Canyon Lake cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexCanyon LakeTexasNational
Cost of living index9690100
IndexCanyon LakeTexasNational
Goods & Services index9494100
Groceries index9189100
Health care index9295100
Housing index10081100
Transportation index8693100
Utilities index10995100
A general overview of the cost of living index for Canyon Lake, TX is displayed above. In Canyon Lake, TX, the overall cost of living index is 96, which is 7% higher than the Texas average and 4% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Canyon Lake, TX, the city's goods and services are equal to the Texas average and 6% lower than the U.S. average.

Did you know?

  • The cost of living in Canyon Lake is 7% higher than the Texas average.
  • The cost of living in Canyon Lake is 4% lower than the national average.
  • The cost of housing in Canyon Lake is equal to the national average.
  • Texas general sales tax is 23% higher than the national average.
  • Texas state income tax is 100% lower than the national average.

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Compare Canyon Lake, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Canyon Lake, TX to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Canyon Lake, TX, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Canyon Lake, TX salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$61,010$5,084$1,423$1,830
Renters$32,356$2,696$755$971
One can approximate the cost of living and the housing affordability in Canyon Lake, TX by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Canyon Lake, TX have a median income of $61,010. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,423 per month to avoid calamity and poverty. The renters in the city have an income of about $32,356, which would make their monthly maximum allowable rental costs $755.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
When you are determining the total cost of living in Canyon Lake, TX you will want to make sure you consider both the Texas sales tax and the Texas income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Texas is 6.25%, with the highest surtax being 8.25%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Texas have a range from 0% to 0%.

Goods & Services

ItemCanyon LakeNational avg.Difference
Haircut $14.53$15.566.6%
Beauty Salon $30.07$36.1116.7%
Toothpaste $2.79$2.4712.7%
Shampoo $0.89$0.968.1%
Movie $7.50$10.1325.9%
Bowling $4.67$4.741.4%

Groceries

ItemCanyon LakeNational avg.Difference
Ground Beef $3.48$3.9812.6%
Fried Chicken $1.27$1.4110.0%
Milk $1.82$2.0611.8%
Potatoes $2.31$2.9822.5%
Pizza $9.24$9.472.5%
Beer $8.41$8.794.3%

Health Care

ItemCanyon LakeNational avg.Difference
Optometrist $88.50$101.0412.4%
Doctor $91.48$107.4414.9%
Dentist $81.87$90.429.5%
Ibuprofen $8.77$9.285.5%
Lipitor $440.38$426.503.3%

Housing

ItemCanyon LakeNational avg.Difference
Home Price $169,100.00$175,700.003.8%
Avg. Mortgage Payment $938.83$1,133.2317.2%
Apartment Rent $1,005.00$920.009.2%

Transportation

ItemCanyon LakeNational avg.Difference
Gasoline $1.78$1.9910.7%
Tire Balancing $35.30$45.7622.9%

Utilities

ItemCanyon LakeNational avg.Difference
All Electricity$156.47$163.814.5%
Phone $36.18$28.3927.4%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Blanco, TX2,21592-8%
New Braunfels, TX61,71295-5%
Wimberley, TX2,6001011%
Woodcreek, TX1,2441055%
Bulverde, TX4,7061022%
Canyon Lake, TX21,46996-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
North Laurel, MD21,43712626%
Marquette, MI21,43092-8%
Sedalia, MO21,42986-14%
Christiansburg, VA21,42796-4%
Rancho San Diego, CA21,51415050%
Canyon Lake, TX21,46996-4%
Source: The Canyon Lake, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.