Cost Of Living in Iowa Park, TX

A+

15%

Overall NAT. AVG.

10%

Goods & Services NAT. AVG.

34%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Iowa Park	Texas	National
Cost of living	85	92	100
Goods & Services	90	96	100
Groceries	95	96	100
Health care	97	94	100
Housing	66	83	100
Transportation	94	92	100
Utilities	98	104	100

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Cost Of Living Quick Facts

The cost of living in Iowa Park is 8% lower than the Texas average
The cost of living in Iowa Park is 15% lower than the national average
Iowa Park housing is 34% lower than the national average
Texas general sales tax is 22% higher than the national average
Texas state income tax is 100% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$55,781	$4,648	$1,301	$1,674
Renters	$35,121	$2,927	$819	$1,054

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Iowa Park, 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 Iowa Park homeowners, is $55,781. This would allow for a maximum of $1,301 per month to be spent on housing costs. For renters, the median monthly income is $35,121 which would result in a maximum of $819 to be spent on rental costs.

Texas Sales Tax

State	General Sales Tax	With Max Surtax
Texas	6.25%	8.25%

Texas Income Tax

State	Income Tax (Low)	Income Tax (High)
Texas	0%	0%

Goods & Services

Item	Iowa Park	National avg.	Difference
Haircut	$18.44	$24.26	24.0%
Beauty Salon	$40.04	$45.56	12.1%
Toothpaste	$3.53	$3.70	4.6%
Shampoo	$1.24	$1.28	3.3%
Movie	$11.19	$12.13	7.7%
Bowling	$16.67	$18.00	7.4%

Groceries

Item	Iowa Park	National avg.	Difference
Ground Beef	$6.10	$5.84	4.5%
Fried Chicken	$1.39	$1.57	11.6%
Milk	$4.54	$4.67	2.8%
Potatoes	$4.93	$4.93	0.1%
Pizza	$12.10	$12.09	0.1%
Beer	$9.83	$10.41	5.6%

Health Care

Item	Iowa Park	National avg.	Difference
Optometrist	$119.30	$125.68	5.1%
Doctor	$100.35	$135.78	26.1%
Dentist	$102.46	$113.29	9.6%
Ibuprofen	$10.38	$10.65	2.6%
Lipitor	$511.35	$468.60	9.1%

Housing

Item	Iowa Park	National avg.	Difference
Home Price	$89,300.00	$184,700.00	51.7%
Avg. Mortgage Payment	$2,086.56	$2,346.69	11.1%
Apartment Rent	$1,033.00	$949.00	8.9%

Transportation

Item	Iowa Park	National avg.	Difference
Gasoline	$3.10	$3.46	10.5%
Tire Balancing	$62.19	$59.92	3.8%

Utilities

Item	Iowa Park	National avg.	Difference
All Electricity	$182.99	$193.99	5.7%
Phone	$193.02	$192.25	0.4%

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	Population	Cost of Living Index	National Avg.
Electra, TX	2,732	74	25.9%
Randlett, OK	338	77	22.6%
Burkburnett, TX	11,241	84	15.9%
Holliday, TX	1,673	85	15.4%
Wichita Falls, TX	104,657	85	15.1%
Iowa Park, TX	6,370	85	14.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Clover, SC	6,370	98	1.7%
St. John, MO	6,369	84	15.9%
Douglas, WY	6,369	97	3.3%
Air Force Academy, CO	6,368	129	29.0%
Fowler, CA	6,366	121	21.3%
Iowa Park, TX	6,370	85	14.9%