Hereford 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.
IndexHerefordTexasNational
Cost of living index8091100
IndexHerefordTexasNational
Goods & Services index9297100
Groceries index9890100
Health care index10096100
Housing index5381100
Transportation index8995100
Utilities index8594100
A general summary of the cost of living index in Hereford, TX is shown above. Compared to the state average of Texas the cost of living index in Hereford, TX is 80, which is 11% lower than the average in Texas and compared to the national average it is 20% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Hereford, TX goods and services come in at 5% lower than the average in Texas and are 8% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Hereford is 11% lower than the Texas average.
  • The cost of living in Hereford is 20% lower than the national average.
  • The cost of housing in Hereford is 47% 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 Hereford, TX Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Hereford, TX to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hereford, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hereford, TX salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$47,368$3,947$1,105$1,421
Renters$27,651$2,304$645$830
One can approximate the cost of living and the housing affordability in Hereford, 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 Hereford, TX have a median income of $47,368. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,105 per month to avoid calamity and poverty. The renters in the city have an income of about $27,651, which would make their monthly maximum allowable rental costs $645.

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 Hereford, 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

ItemHerefordNational avg.Difference
Haircut $15.80$14.598.3%
Beauty Salon $26.40$34.6823.9%
Toothpaste $2.33$2.475.8%
Shampoo $0.85$1.0216.8%
Movie $8.88$9.8710.0%
Bowling $4.23$4.393.7%

Groceries

ItemHerefordNational avg.Difference
Ground Beef $3.21$4.4828.3%
Fried Chicken $1.40$1.464.4%
Milk $2.64$2.3612.0%
Potatoes $3.57$3.0616.6%
Pizza $10.00$9.248.2%
Beer $9.15$8.636.0%

Health Care

ItemHerefordNational avg.Difference
Optometrist $75.05$99.7824.8%
Doctor $112.00$105.036.6%
Dentist $84.20$88.705.1%
Ibuprofen $8.58$9.418.8%
Lipitor $329.29$298.5010.3%

Housing

ItemHerefordNational avg.Difference
Home Price $80,000.00$175,700.0054.5%
Avg. Mortgage Payment $734.86$1,081.0332.0%
Apartment Rent $646.00$920.0029.8%

Transportation

ItemHerefordNational avg.Difference
Gasoline $1.82$2.0912.9%
Tire Balancing $42.33$45.296.5%

Utilities

ItemHerefordNational avg.Difference
All Electricity$139.95$170.8018.1%
Phone $25.01$28.2611.5%
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.
Hereford, TX15,33080-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kenmore, NY15,33485-15%
Henderson, NC15,32588-12%
Spanish Springs, NV15,32211717%
Wilmington Island, GA15,3381099%
Bryn Mawr-Skyway, WA15,33912323%
Hereford, TX15,33080-20%
Source: The Hereford, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.