Highland Park 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.
IndexHighland ParkTexasNational
Cost of living index28590100
IndexHighland ParkTexasNational
Goods & Services index10794100
Groceries index10889100
Health care index10695100
Housing index70581100
Transportation index10293100
Utilities index9995100
A general summary of the cost of living index in Highland Park, TX is shown above. Compared to the state average of Texas the cost of living index in Highland Park, TX is 285, which is 218% higher than the average in Texas and compared to the national average it is 185% higher 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 Highland Park, TX goods and services come in at 13% higher than the average in Texas and are 7% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Highland Park is 218% higher than the Texas average.
  • The cost of living in Highland Park is 185% higher than the national average.
  • The cost of housing in Highland Park is 605% 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 Highland Park, TX Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Transportation index
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The salary calculator is meant to help you compare your salary in Highland Park, 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 Highland Park, TX, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Highland Park, 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$232,115$19,343$5,416$6,964
Renters$73,750$6,146$1,721$2,213
The affordability of the housing market in Highland Park, 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 Highland Park, TX homeowners, the median income is $232,115. This indicates that a monthly maximum of $5,416 should be spent by homeowners on all housing related costs. Renters have a median income of $73,750. This indicates that renters should have a maximum of $1,721 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 assessing the complete cost of living in Highland Park, TX, the Texas income tax and the Texas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Texas maximum surtax is 8.25%, and the Texas sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Texas.

Goods & Services

ItemHighland ParkNational avg.Difference
Haircut $22.16$15.5642.4%
Beauty Salon $43.11$36.1119.4%
Toothpaste $2.57$2.473.9%
Shampoo $1.05$0.969.2%
Movie $10.36$10.132.3%
Bowling $6.10$4.7428.9%

Groceries

ItemHighland ParkNational avg.Difference
Ground Beef $3.90$3.982.1%
Fried Chicken $1.92$1.4136.5%
Milk $1.87$2.069.4%
Potatoes $3.66$2.9822.8%
Pizza $10.41$9.479.9%
Beer $9.48$8.797.8%

Health Care

ItemHighland ParkNational avg.Difference
Optometrist $114.42$101.0413.2%
Doctor $107.11$107.440.3%
Dentist $97.63$90.428.0%
Ibuprofen $10.28$9.2810.8%
Lipitor $451.49$426.505.9%

Housing

ItemHighland ParkNational avg.Difference
Home Price $1,605,500.00$175,700.00813.8%
Avg. Mortgage Payment $918.75$1,133.2318.9%
Apartment Rent $2,001.00$920.00117.5%

Transportation

ItemHighland ParkNational avg.Difference
Gasoline $1.86$1.996.7%
Tire Balancing $54.96$45.7620.1%

Utilities

ItemHighland ParkNational avg.Difference
All Electricity$162.75$163.810.6%
Phone $28.15$28.390.8%
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.
Horseshoe Bend, TX70380-20%
Hutchins, TX5,41090-10%
Cockrell Hill, TX4,26792-8%
Seagoville, TX15,37992-8%
Balch Springs, TX24,69392-8%
Highland Park, TX8,796285185%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Brandywine, MD8,79112727%
Lapeer, MI8,80190-10%
Delta, CO8,80195-5%
Smithville, MO8,79197-3%
Madeira, OH8,8011044%
Highland Park, TX8,796285185%
Source: The Highland Park, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.