Iowa 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.
IndexIowa ParkTexasNational
Cost of living index8190100
IndexIowa ParkTexasNational
Goods & Services index9094100
Groceries index8889100
Health care index9895100
Housing index6181100
Transportation index8693100
Utilities index9195100
The above illustration supplies generalized information for the Iowa Park, TX cost of living index. Compared to other cities in Texas and cities across the country, the cost of living index in Iowa Park, TX is 81, which is 10% lower than the Texas average and 19% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Iowa Park, TX are 5% lower than the average for Texas and 11% lower than the rest of the country.

Did you know?

  • The cost of living in Iowa Park is 10% lower than the Texas average.
  • The cost of living in Iowa Park is 19% lower than the national average.
  • The cost of housing in Iowa Park is 39% 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.

Find Real Estate Listings In Iowa Park

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Iowa Park

Compare Iowa Park, 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
Use the salary calculator to compare your current salary in Iowa Park, TX to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Iowa Park, TX, then you would need to earn more income in order to maintain the same standard of living. To use the Iowa Park, TX salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$49,223$4,102$1,148$1,477
Renters$37,134$3,095$866$1,114
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, TX homeowners, is $49,223. This would allow for a maximum of $1,148 per month to be spent on housing costs. For renters, the median monthly income is $37,134 which would result in a maximum of $866 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 Iowa Park, 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

ItemIowa ParkNational avg.Difference
Haircut $12.75$15.5618.1%
Beauty Salon $29.90$36.1117.2%
Toothpaste $1.93$2.4722.1%
Shampoo $0.77$0.9620.2%
Movie $10.52$10.133.8%
Bowling $3.65$4.7422.9%

Groceries

ItemIowa ParkNational avg.Difference
Ground Beef $3.76$3.985.5%
Fried Chicken $1.06$1.4124.9%
Milk $1.57$2.0623.9%
Potatoes $2.30$2.9823.0%
Pizza $7.99$9.4715.6%
Beer $8.48$8.793.6%

Health Care

ItemIowa ParkNational avg.Difference
Optometrist $103.21$101.042.1%
Doctor $95.94$107.4410.7%
Dentist $92.67$90.422.5%
Ibuprofen $8.20$9.2811.7%
Lipitor $443.12$426.503.9%

Housing

ItemIowa ParkNational avg.Difference
Home Price $81,400.00$175,700.0053.7%
Avg. Mortgage Payment $850.66$1,133.2324.9%
Apartment Rent $868.00$920.005.7%

Transportation

ItemIowa ParkNational avg.Difference
Gasoline $1.77$1.9911.4%
Tire Balancing $36.87$45.7619.4%

Utilities

ItemIowa ParkNational avg.Difference
All Electricity$174.71$163.816.7%
Phone $20.00$28.3929.6%
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.
Electra, TX2,76473-27%
Randlett, OK41076-24%
Holliday, TX1,71777-23%
Wichita Falls, TX104,77181-19%
Burkburnett, TX10,91582-18%
Iowa Park, TX6,37581-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Calverton, NY6,37212424%
Bronxville, NY6,378204104%
Star, ID6,37998-2%
Plumas Lake, CA6,38011717%
South Hill, NY6,3801055%
Iowa Park, TX6,37581-19%
Source: The Iowa 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.