Little Elm 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.
IndexLittle ElmTexasNational
Cost of living index10991100
IndexLittle ElmTexasNational
Goods & Services index10297100
Groceries index10190100
Health care index10296100
Housing index11081100
Transportation index14795100
Utilities index10294100
An overview of the general cost of living index for Little Elm, TX is displayed above for your reference. Residents in Little Elm, TX enjoy a cost of living index of 109. This index is 20% higher than the Texas average, and 9% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Little Elm, TX, the average cost of goods and services is 5% higher than it is in Texas, and it is 2% higher than the national average.

Did you know?

  • The cost of living in Little Elm is 20% higher than the Texas average.
  • The cost of living in Little Elm is 9% higher than the national average.
  • The cost of housing in Little Elm is 10% higher 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 Little Elm, TX Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current salary in Little Elm, 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 Little Elm, TX, then you would need to earn more income in order to maintain the same standard of living. To use the Little Elm, 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$87,029$7,252$2,031$2,611
Renters$50,149$4,179$1,170$1,505
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Little Elm, 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 Little Elm, TX homeowners, is $87,029. This would allow for a maximum of $2,031 per month to be spent on housing costs. For renters, the median monthly income is $50,149 which would result in a maximum of $1,170 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%
For those who live in Little Elm, TX and want to know what the true cost of living is, they ought to look at both the Texas income tax rate and the Texas sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Texas, the sales tax is 6.25%, while the most you'll pay in surtax is 8.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Texas, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemLittle ElmNational avg.Difference
Haircut $16.49$14.5913.0%
Beauty Salon $35.45$34.682.2%
Toothpaste $2.34$2.475.4%
Shampoo $0.91$1.0211.0%
Movie $10.50$9.876.4%
Bowling $5.23$4.3919.1%

Groceries

ItemLittle ElmNational avg.Difference
Ground Beef $5.54$4.4823.8%
Fried Chicken $2.14$1.4646.2%
Milk $2.21$2.366.2%
Potatoes $2.84$3.067.2%
Pizza $9.99$9.248.1%
Beer $8.87$8.632.7%

Health Care

ItemLittle ElmNational avg.Difference
Optometrist $101.68$99.781.9%
Doctor $111.77$105.036.4%
Dentist $95.00$88.707.1%
Ibuprofen $8.98$9.414.6%
Lipitor $268.86$298.509.9%

Housing

ItemLittle ElmNational avg.Difference
Home Price $159,200.00$175,700.009.4%
Avg. Mortgage Payment $886.79$1,081.0318.0%
Apartment Rent $1,433.00$920.0055.8%

Transportation

ItemLittle ElmNational avg.Difference
Gasoline $3.36$2.0960.5%
Tire Balancing $50.12$45.2910.7%

Utilities

ItemLittle ElmNational avg.Difference
All Electricity$187.58$170.809.8%
Phone $25.95$28.268.2%
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, TX28887-13%
Sanger, TX7,23798-2%
Aubrey, TX2,7091011%
Denton, TX122,7421022%
Lake Dallas, TX7,3061033%
Little Elm, TX30,2131099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Algonquin, IL30,18911818%
New Bern, NC30,17198-2%
Farmers Branch, TX30,2611033%
Los Gatos, CA30,163220120%
Orcutt, CA30,26612828%
Little Elm, TX30,2131099%
Source: The Little Elm, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.