Morgan's Point Resort 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.
IndexMorgan's Point ResortTexasNational
Cost of living index9190100
IndexMorgan's Point ResortTexasNational
Goods & Services index9094100
Groceries index7989100
Health care index9795100
Housing index9581100
Transportation index8993100
Utilities index10295100
A general summary of the cost of living index in Morgan's Point Resort, TX is shown above. Compared to the state average of Texas the cost of living index in Morgan's Point Resort, TX is 91, which is 2% higher than the average in Texas and compared to the national average it is 9% 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 Morgan's Point Resort, TX goods and services come in at 5% lower than the average in Texas and are 10% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Morgan's Point Resort is 2% higher than the Texas average.
  • The cost of living in Morgan's Point Resort is 9% lower than the national average.
  • The cost of housing in Morgan's Point Resort is 5% 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 Morgan's Point Resort, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Using the salary calculator lets you compare the salary you earn in Morgan's Point Resort, TX to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Morgan's Point Resort, TX, you have to earn a higher income in order to still have the same standard of living. To operate the Morgan's Point Resort, TX salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$67,644$5,637$1,578$2,030
Renters$55,455$4,621$1,294$1,664
If you want to find a good determining factor for the cost of living and the general affordability of housing in Morgan's Point Resort, 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 Morgan's Point Resort, TX, the median monthly income is $67,644 for those who own their own homes. Under the standard rule, that income level would allow for $1,578 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $55,455, per the median income in the area. That would allow for renters to spend up to $1,294 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%
When considering the overall cost of living expenses in Morgan's Point Resort, TX, it's important to take into account the sales tax for Texas, as well as the rate for income tax in Texas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Texas is 8.25%, and the sales tax in the state of Texas is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Texas starts from 0% and goes up to 0%.

Goods & Services

ItemMorgan's Point ResortNational avg.Difference
Haircut $13.48$15.5613.4%
Beauty Salon $37.05$36.112.6%
Toothpaste $1.85$2.4725.2%
Shampoo $0.75$0.9622.3%
Movie $8.44$10.1316.6%
Bowling $5.25$4.7410.8%

Groceries

ItemMorgan's Point ResortNational avg.Difference
Ground Beef $3.17$3.9820.4%
Fried Chicken $0.95$1.4132.7%
Milk $1.58$2.0623.3%
Potatoes $1.63$2.9845.2%
Pizza $8.99$9.475.1%
Beer $8.79$8.790.0%

Health Care

ItemMorgan's Point ResortNational avg.Difference
Optometrist $87.96$101.0413.0%
Doctor $123.50$107.4414.9%
Dentist $77.93$90.4213.8%
Ibuprofen $7.97$9.2814.1%
Lipitor $434.92$426.502.0%

Housing

ItemMorgan's Point ResortNational avg.Difference
Home Price $129,000.00$175,700.0026.6%
Avg. Mortgage Payment $790.41$1,133.2330.3%
Apartment Rent $1,343.00$920.0046.0%

Transportation

ItemMorgan's Point ResortNational avg.Difference
Gasoline $1.72$1.9913.8%
Tire Balancing $43.91$45.764.0%

Utilities

ItemMorgan's Point ResortNational avg.Difference
All Electricity$180.85$163.8110.4%
Phone $26.00$28.398.4%
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.
Moody, TX1,61480-20%
Troy, TX1,77181-19%
Bruceville-Eddy, TX1,73181-19%
Little River-Academy, TX1,94082-18%
Temple, TX68,87785-15%
Morgan's Point Resort, TX4,20891-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rutherfordton, NC4,20891-9%
Plain City, OH4,21095-5%
Trent Woods, NC4,2101044%
Belton, SC4,21188-12%
Fordyce, AR4,20580-20%
Morgan's Point Resort, TX4,20891-9%
Source: The Morgan's Point Resort, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.