Monahans 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.
IndexMonahansTexasNational
Cost of living index8491100
IndexMonahansTexasNational
Goods & Services index10097100
Groceries index9090100
Health care index10396100
Housing index5381100
Transportation index9695100
Utilities index10094100
A general summary of the cost of living index in Monahans, TX is shown above. Compared to the state average of Texas the cost of living index in Monahans, TX is 84, which is 7% lower than the average in Texas and compared to the national average it is 16% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Monahans, TX goods and services come in at 3% higher than the average in Texas and are equal to compared to the nationwide average.

Did you know?

  • The cost of living in Monahans is 7% lower than the Texas average.
  • The cost of living in Monahans is 16% lower than the national average.
  • The cost of housing in Monahans is 47% 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 Monahans, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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Transportation index
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The salary calculator allows you to compare how much your current salary in Monahans, TX would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Monahans, TX, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Monahans, TX salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,359$4,697$1,315$1,691
Renters$29,326$2,444$684$880
If you want to find a good determining factor for the cost of living and the general affordability of housing in Monahans, 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 Monahans, TX, the median monthly income is $56,359 for those who own their own homes. Under the standard rule, that income level would allow for $1,315 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $29,326, per the median income in the area. That would allow for renters to spend up to $684 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%
One thing to keep in mind when considering the cost of living in Monahans, TX is the Texas sales tax and Texas income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Texas sales tax rate is 6.25% and the maximum surtax that can be charged is 8.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Texas income tax rates range from 0% to 0%.

Goods & Services

ItemMonahansNational 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

ItemMonahansNational 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

ItemMonahansNational 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

ItemMonahansNational avg.Difference
Home Price $82,600.00$175,700.0053.0%
Avg. Mortgage Payment $1,005.43$1,081.037.0%
Apartment Rent $612.00$920.0033.5%

Transportation

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

Utilities

ItemMonahansNational 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.
Pyote, TX12178-22%
Thorntonville, TX53878-22%
Wickett, TX39780-20%
Monahans, TX7,20484-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Inverness, FL7,20586-14%
Hitchcock, TX7,20684-16%
Stratmoor, CO7,20990-10%
Amory, MS7,19777-23%
Keyport, NJ7,21311919%
Monahans, TX7,20484-16%
Source: The Monahans, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.