Lakehills 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.
IndexLakehillsTexasNational
Cost of living index9191100
IndexLakehillsTexasNational
Goods & Services index10297100
Groceries index8390100
Health care index9296100
Housing index8581100
Transportation index8595100
Utilities index8794100
Here we can see a simple outline of the cost of living in Lakehills, TX. As you can see, with the average cost of living in Lakehills, TX being 91, that puts it equal to the average of Texas and 9% lower 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 Lakehills, TX, the price of goods and services are 5% higher than the average of Texas as well as 2% higher than the nation's average.

Did you know?

  • The cost of living in Lakehills is equal to the Texas average.
  • The cost of living in Lakehills is 9% lower than the national average.
  • The cost of housing in Lakehills is 15% 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 Lakehills

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Lakehills

Compare Lakehills, 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 income in Lakehills, TX to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Lakehills, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Lakehills, TX salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$60,777$5,065$1,418$1,823
Renters$28,065$2,339$655$842
If you want to find a good determining factor for the cost of living and the general affordability of housing in Lakehills, TX, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Lakehills, TX, the median monthly income is $60,777 for those who own their own homes. Under the standard rule, that income level would allow for $1,418 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $28,065, per the median income in the area. That would allow for renters to spend up to $655 on monthly rental expenses.

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 Lakehills, 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

ItemLakehillsNational avg.Difference
Haircut $14.00$14.594.1%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.96$2.4719.7%
Shampoo $0.83$1.0218.8%
Movie $10.50$9.876.4%
Bowling $5.50$4.3925.2%

Groceries

ItemLakehillsNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.07$1.4626.9%
Milk $2.49$2.365.7%
Potatoes $3.11$3.061.6%
Pizza $9.08$9.241.8%
Beer $8.23$8.634.7%

Health Care

ItemLakehillsNational avg.Difference
Optometrist $85.00$99.7814.8%
Doctor $96.67$105.038.0%
Dentist $81.67$88.707.9%
Ibuprofen $7.97$9.4115.3%
Lipitor $285.91$298.504.2%

Housing

ItemLakehillsNational avg.Difference
Home Price $156,500.00$175,700.0010.9%
Avg. Mortgage Payment $727.20$1,081.0332.7%
Apartment Rent $694.00$920.0024.6%

Transportation

ItemLakehillsNational avg.Difference
Gasoline $1.84$2.0911.8%
Tire Balancing $34.80$45.2923.2%

Utilities

ItemLakehillsNational avg.Difference
All Electricity$133.30$170.8022.0%
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.
Lake Medina Shores, TX92675-25%
Bandera, TX1,12787-13%
Boerne, TX11,6741011%
Helotes, TX7,8801099%
Lakehills, TX5,36391-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fairport, NY5,3641011%
Gateway, AK5,36712727%
Schuylkill Haven, PA5,36888-12%
Linton, IN5,36885-15%
Deschutes River Woods, OR5,35811515%
Lakehills, TX5,36391-9%
Source: The Lakehills, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.