Groesbeck 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.
IndexGroesbeckTexasNational
Cost of living index8091100
IndexGroesbeckTexasNational
Goods & Services index9997100
Groceries index7990100
Health care index9996100
Housing index4881100
Transportation index9795100
Utilities index9194100
An overview of the general cost of living index for Groesbeck, TX is displayed above for your reference. Residents in Groesbeck, TX enjoy a cost of living index of 80. This index is 12% lower than the Texas average, and 20% lower 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 Groesbeck, TX, the average cost of goods and services is 2% higher than it is in Texas, and it is 1% lower than the national average.

Did you know?

  • The cost of living in Groesbeck is 12% lower than the Texas average.
  • The cost of living in Groesbeck is 20% lower than the national average.
  • The cost of housing in Groesbeck is 52% 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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Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Groesbeck, TX would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Groesbeck, TX, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Groesbeck, TX salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,510$3,876$1,085$1,395
Renters$27,063$2,255$631$812
The affordability of the housing market in Groesbeck, TX as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Groesbeck, TX homeowners, the median income is $46,510. This indicates that a monthly maximum of $1,085 should be spent by homeowners on all housing related costs. Renters have a median income of $27,063. This indicates that renters should have a maximum of $631 used for their rent related monthly costs.

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 Groesbeck, 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

ItemGroesbeckNational avg.Difference
Haircut $14.59$14.590.0%
Beauty Salon $38.17$34.6810.1%
Toothpaste $1.50$2.4739.4%
Shampoo $0.75$1.0226.6%
Movie $7.50$9.8724.0%
Bowling $3.67$4.3916.4%

Groceries

ItemGroesbeckNational avg.Difference
Ground Beef $4.53$4.481.2%
Fried Chicken $1.02$1.4630.3%
Milk $1.71$2.3627.4%
Potatoes $2.29$3.0625.2%
Pizza $10.32$9.2411.7%
Beer $10.36$8.6320.0%

Health Care

ItemGroesbeckNational avg.Difference
Optometrist $83.40$99.7816.4%
Doctor $93.33$105.0311.1%
Dentist $93.83$88.705.8%
Ibuprofen $7.97$9.4115.3%
Lipitor $326.88$298.509.5%

Housing

ItemGroesbeckNational avg.Difference
Home Price $75,300.00$175,700.0057.1%
Avg. Mortgage Payment $918.47$1,081.0315.0%
Apartment Rent $549.00$920.0040.3%

Transportation

ItemGroesbeckNational avg.Difference
Gasoline $1.93$2.097.8%
Tire Balancing $49.98$45.2910.4%

Utilities

ItemGroesbeckNational avg.Difference
All Electricity$164.09$170.803.9%
Phone $24.01$28.2615.0%
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.
Thornton, TX32880-20%
Teague, TX3,55180-20%
Mexia, TX7,50281-19%
Tehuacana, TX24482-18%
Groesbeck, TX4,32580-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Point Pleasant, WV4,32680-20%
Garwood, NJ4,32313636%
Edgewood, OH4,32877-23%
Magnolia, NJ4,32911010%
Carmel Valley Village, CA4,32117979%
Groesbeck, TX4,32580-20%
Source: The Groesbeck, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.