Fair Oaks Ranch 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.
IndexFair Oaks RanchTexasNational
Cost of living index12591100
IndexFair Oaks RanchTexasNational
Goods & Services index10297100
Groceries index8390100
Health care index9296100
Housing index20081100
Transportation index8595100
Utilities index8794100
An overview of the general cost of living index for Fair Oaks Ranch, TX is displayed above for your reference. Residents in Fair Oaks Ranch, TX enjoy a cost of living index of 125. This index is 38% higher than the Texas average, and 25% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Fair Oaks Ranch, TX, the average cost of goods and services is 5% higher than it is in Texas, and it is 2% higher than the national average.

Did you know?

  • The cost of living in Fair Oaks Ranch is 38% higher than the Texas average.
  • The cost of living in Fair Oaks Ranch is 25% higher than the national average.
  • The cost of housing in Fair Oaks Ranch is 100% higher 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 Fair Oaks Ranch, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Fair Oaks Ranch, TX to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Fair Oaks Ranch, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Fair Oaks Ranch, TX salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$133,395$11,116$3,112$4,002
Renters$105,625$8,802$2,464$3,169
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Fair Oaks Ranch, TX, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Fair Oaks Ranch, TX homeowners have a median income of $133,395. Using that number, you will come up with a maximum of $3,112 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $105,625, which means there is a maximum of $2,464 to be spent on the costs of renting a home or apartment.

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 Fair Oaks Ranch, 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

ItemFair Oaks RanchNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.96$2.4719.7%
Shampoo $0.83$1.0218.8%
Movie $10.50$9.876.4%
Bowling $5.50$4.3925.2%

Groceries

ItemFair Oaks RanchNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.07$1.4626.9%
Milk $2.49$2.365.7%
Potatoes $3.11$3.061.6%
Pizza $9.08$9.241.8%
Beer $8.23$8.634.7%

Health Care

ItemFair Oaks RanchNational avg.Difference
Optometrist $85.00$99.7814.8%
Doctor $96.67$105.038.0%
Dentist $81.67$88.707.9%
Ibuprofen $7.97$9.4115.3%
Lipitor $285.91$298.504.2%

Housing

ItemFair Oaks RanchNational avg.Difference
Home Price $384,200.00$175,700.00118.7%
Avg. Mortgage Payment $727.20$1,081.0332.7%
Apartment Rent $1,445.00$920.0057.1%

Transportation

ItemFair Oaks RanchNational avg.Difference
Gasoline $1.84$2.0911.8%
Tire Balancing $34.80$45.2923.2%

Utilities

ItemFair Oaks RanchNational avg.Difference
All Electricity$133.30$170.8022.0%
Phone $28.00$28.260.9%
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.
Grey Forest, TX49999-1%
Boerne, TX11,6741011%
Bulverde, TX4,7061044%
Helotes, TX7,8801099%
Timberwood Park, TX25,08611212%
Fair Oaks Ranch, TX6,53412525%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Blakely, PA6,53495-5%
Commerce, GA6,53586-14%
Cottage Grove, WI6,53311212%
Seneca Falls, NY6,53390-10%
Otis Orchards-East Farms, WA6,53898-2%
Fair Oaks Ranch, TX6,53412525%
Source: The Fair Oaks Ranch, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.