Kermit 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.
IndexKermitTexasNational
Cost of living index8091100
IndexKermitTexasNational
Goods & Services index10097100
Groceries index9090100
Health care index10396100
Housing index3781100
Transportation index9695100
Utilities index10094100
Displayed above is a general overview of the Kermit, TX cost of living index. The overall cost of living index in Kermit, TX is 80, which is 12% lower than the Texas average and 20% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Kermit, TX are 3% higher than the Texas average and equal to the national average.

Did you know?

  • The cost of living in Kermit is 12% lower than the Texas average.
  • The cost of living in Kermit is 20% lower than the national average.
  • The cost of housing in Kermit is 63% 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 Kermit, 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 Kermit, 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 Kermit, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Kermit, 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$53,667$4,472$1,252$1,610
Renters$39,958$3,330$932$1,199
One can approximate the cost of living and the housing affordability in Kermit, 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 Kermit, TX have a median income of $53,667. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,252 per month to avoid calamity and poverty. The renters in the city have an income of about $39,958, which would make their monthly maximum allowable rental costs $932.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
The Texas sales tax and Texas income tax rates should definitely be considered when determining the overall cost of living in Kermit, TX. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Texas sales tax is 6.25% and the maximum surtax is 8.25%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Texas income tax rates range from 0% to 0%.

Goods & Services

ItemKermitNational avg.Difference
Haircut $13.75$14.595.8%
Beauty Salon $36.25$34.684.5%
Toothpaste $2.50$2.471.1%
Shampoo $0.87$1.0214.9%
Movie $9.88$9.870.1%
Bowling $4.50$4.392.5%

Groceries

ItemKermitNational avg.Difference
Ground Beef $4.96$4.4810.8%
Fried Chicken $1.33$1.469.2%
Milk $2.00$2.3615.1%
Potatoes $2.11$3.0631.1%
Pizza $9.49$9.242.7%
Beer $9.06$8.634.9%

Health Care

ItemKermitNational avg.Difference
Optometrist $97.67$99.782.1%
Doctor $117.50$105.0311.9%
Dentist $87.50$88.701.4%
Ibuprofen $10.14$9.417.7%
Lipitor $293.92$298.501.5%

Housing

ItemKermitNational avg.Difference
Home Price $43,800.00$175,700.0075.1%
Avg. Mortgage Payment $1,005.43$1,081.037.0%
Apartment Rent $613.00$920.0033.4%

Transportation

ItemKermitNational avg.Difference
Gasoline $2.08$2.090.6%
Tire Balancing $39.50$45.2912.8%

Utilities

ItemKermitNational avg.Difference
All Electricity$171.15$170.800.2%
Phone $28.00$28.260.9%
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.
Wink, TX1,07380-20%
Kermit, TX5,89480-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Spring Ridge, MD5,89512323%
St. Helena, CA5,89519898%
Barberton, WA5,89512525%
Guadalupe, AZ5,89281-19%
Norwood, PA5,8971099%
Kermit, TX5,89480-20%
Source: The Kermit, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.