Lake Dallas 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.
IndexLake DallasTexasNational
Cost of living index9090100
IndexLake DallasTexasNational
Goods & Services index8594100
Groceries index8689100
Health care index10595100
Housing index8981100
Transportation index10193100
Utilities index9895100
A general overview of the cost of living index for Lake Dallas, TX is displayed above. In Lake Dallas, TX, the overall cost of living index is 90, which is 1% higher than the Texas average and 10% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Lake Dallas, TX, the city's goods and services are 9% lower than the Texas average and 15% lower than the U.S. average.

Did you know?

  • The cost of living in Lake Dallas is 1% higher than the Texas average.
  • The cost of living in Lake Dallas is 10% lower than the national average.
  • The cost of housing in Lake Dallas is 11% 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 Lake Dallas, 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 meant to help you compare your salary in Lake Dallas, 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 Lake Dallas, TX, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Lake Dallas, 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$86,563$7,214$2,020$2,597
Renters$42,194$3,516$984$1,266
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lake Dallas, 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 Lake Dallas, TX homeowners, is $86,563. This would allow for a maximum of $2,020 per month to be spent on housing costs. For renters, the median monthly income is $42,194 which would result in a maximum of $984 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%
The Texas sales tax and Texas income tax rates should definitely be considered when determining the overall cost of living in Lake Dallas, 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

ItemLake DallasNational 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

ItemLake DallasNational 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

ItemLake DallasNational 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

ItemLake DallasNational avg.Difference
Home Price $144,100.00$175,700.0018.0%
Avg. Mortgage Payment $1,150.90$1,133.231.6%
Apartment Rent $959.00$920.004.2%

Transportation

ItemLake DallasNational avg.Difference
Gasoline $1.85$1.997.2%
Tire Balancing $55.11$45.7620.4%

Utilities

ItemLake DallasNational 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%
Denton, TX122,74290-10%
Farmers Branch, TX30,2611011%
Lake Dallas, TX7,30690-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mira Monte, CA7,30614545%
La Follette, TN7,30475-25%
Eden Isle, LA7,30211616%
Kosciusko, MS7,30277-23%
Hood River, OR7,31112424%
Lake Dallas, TX7,30690-10%
Source: The Lake Dallas, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.