DeSoto 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.
IndexDeSotoTexasNational
Cost of living index10191100
IndexDeSotoTexasNational
Goods & Services index11497100
Groceries index10790100
Health care index10496100
Housing index8781100
Transportation index9095100
Utilities index10494100
Displayed above is a general overview of the DeSoto, TX cost of living index. The overall cost of living index in DeSoto, TX is 101, which is 11% higher than the Texas average and 1% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in DeSoto, TX are 17% higher than the Texas average and 14% higher than the national average.

Did you know?

  • The cost of living in DeSoto is 11% higher than the Texas average.
  • The cost of living in DeSoto is 1% higher than the national average.
  • The cost of housing in DeSoto is 13% lower than 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 DeSoto, TX Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in DeSoto, TX to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in DeSoto, TX, then you would need to earn more income in order to maintain the same standard of living. To use the DeSoto, TX salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$76,162$6,347$1,777$2,285
Renters$33,007$2,751$770$990
If you want to find a good determining factor for the cost of living and the general affordability of housing in DeSoto, TX, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In DeSoto, TX, the median monthly income is $76,162 for those who own their own homes. Under the standard rule, that income level would allow for $1,777 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $33,007, per the median income in the area. That would allow for renters to spend up to $770 on monthly rental expenses.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
For those who live in DeSoto, TX and want to know what the true cost of living is, they ought to look at both the Texas income tax rate and the Texas sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Texas, the sales tax is 6.25%, while the most you'll pay in surtax is 8.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Texas, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemDeSotoNational avg.Difference
Haircut $21.33$14.5946.2%
Beauty Salon $41.25$34.6818.9%
Toothpaste $3.28$2.4732.6%
Shampoo $1.57$1.0253.6%
Movie $10.65$9.877.9%
Bowling $5.51$4.3925.5%

Groceries

ItemDeSotoNational avg.Difference
Ground Beef $4.85$4.488.3%
Fried Chicken $1.47$1.460.4%
Milk $1.99$2.3615.6%
Potatoes $2.95$3.063.6%
Pizza $10.19$9.2410.2%
Beer $9.74$8.6312.8%

Health Care

ItemDeSotoNational avg.Difference
Optometrist $112.00$99.7812.2%
Doctor $101.25$105.033.6%
Dentist $96.00$88.708.2%
Ibuprofen $10.95$9.4116.3%
Lipitor $303.46$298.501.7%

Housing

ItemDeSotoNational avg.Difference
Home Price $142,300.00$175,700.0019.0%
Avg. Mortgage Payment $723.28$1,081.0333.1%
Apartment Rent $930.00$920.001.1%

Transportation

ItemDeSotoNational avg.Difference
Gasoline $1.80$2.0913.9%
Tire Balancing $45.12$45.290.4%

Utilities

ItemDeSotoNational avg.Difference
All Electricity$181.49$170.806.3%
Phone $28.15$28.260.4%
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.
Wilmer, TX3,77990-10%
Hutchins, TX5,41092-8%
Venus, TX3,11090-10%
Ferris, TX2,46992-8%
Palmer, TX2,34793-7%
DeSoto, TX50,8371011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Harrisonburg, VA50,8211011%
Glendora, CA50,85514545%
Florin, CA50,7911066%
Minnetonka, MN50,89711919%
Bradenton, FL50,77797-3%
DeSoto, TX50,8371011%
Source: The DeSoto, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.