Highland Village 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 VillageTexasNational
Cost of living index10990100
IndexHighland VillageTexasNational
Goods & Services index8594100
Groceries index8689100
Health care index10595100
Housing index15381100
Transportation index10193100
Utilities index9895100
Here we can see a simple outline of the cost of living in Highland Village, TX. As you can see, with the average cost of living in Highland Village, TX being 109, that puts it 22% higher than the average of Texas and 9% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Highland Village, TX, the price of goods and services are 9% lower than the average of Texas as well as 15% lower than the nation's average.

Did you know?

  • The cost of living in Highland Village is 22% higher than the Texas average.
  • The cost of living in Highland Village is 9% higher than the national average.
  • The cost of housing in Highland Village is 53% 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 Village, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Highland Village, 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 Highland Village, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Highland Village, 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$135,848$11,321$3,170$4,076
Renters$52,128$4,344$1,216$1,564
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Highland Village, TX as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Highland Village, TX homeowners, is $135,848. This would allow for a maximum of $3,170 per month to be spent on housing costs. For renters, the median monthly income is $52,128 which would result in a maximum of $1,216 to be spent on rental 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 considering the overall cost of living expenses in Highland Village, TX, it's important to take into account the sales tax for Texas, as well as the rate for income tax in Texas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Texas is 8.25%, and the sales tax in the state of Texas is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Texas starts from 0% and goes up to 0%.

Goods & Services

ItemHighland VillageNational avg.Difference
Haircut $16.91$15.568.6%
Beauty Salon $31.54$36.1112.6%
Toothpaste $1.63$2.4734.1%
Shampoo $0.81$0.9615.9%
Movie $10.02$10.131.1%
Bowling $5.08$4.747.3%

Groceries

ItemHighland VillageNational avg.Difference
Ground Beef $3.16$3.9820.6%
Fried Chicken $0.90$1.4135.9%
Milk $1.63$2.0621.0%
Potatoes $2.83$2.985.1%
Pizza $8.96$9.475.5%
Beer $8.79$8.790.0%

Health Care

ItemHighland VillageNational avg.Difference
Optometrist $95.62$101.045.4%
Doctor $120.28$107.4412.0%
Dentist $94.43$90.424.4%
Ibuprofen $8.64$9.286.8%
Lipitor $445.61$426.504.5%

Housing

ItemHighland VillageNational avg.Difference
Home Price $268,600.00$175,700.0052.9%
Avg. Mortgage Payment $1,150.90$1,133.231.6%
Apartment Rent $1,424.00$920.0054.8%

Transportation

ItemHighland VillageNational avg.Difference
Gasoline $1.85$1.997.2%
Tire Balancing $55.11$45.7620.4%

Utilities

ItemHighland VillageNational avg.Difference
All Electricity$160.65$163.811.9%
Phone $27.93$28.391.6%
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.
Lincoln Park, TX28874-26%
Corral City, TX3198-2%
Aubrey, TX2,70989-11%
Justin, TX3,31499-1%
Denton, TX122,74290-10%
Highland Village, TX15,5891099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
North Arlington, NJ15,58713333%
Sevierville, TN15,59287-13%
Zachary, LA15,5791022%
Vero Beach, FL15,5771033%
Hillcrest Heights, MD15,60411111%
Highland Village, TX15,5891099%
Source: The Highland Village, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.