Palacios 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.
IndexPalaciosTexasNational
Cost of living index7690100
IndexPalaciosTexasNational
Goods & Services index9094100
Groceries index8589100
Health care index10195100
Housing index4581100
Transportation index9193100
Utilities index8395100
Displayed above is a general overview of the Palacios, TX cost of living index. The overall cost of living index in Palacios, TX is 76, which is 16% lower than the Texas average and 24% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Palacios, TX are 5% lower than the Texas average and 10% lower than the national average.

Did you know?

  • The cost of living in Palacios is 16% lower than the Texas average.
  • The cost of living in Palacios is 24% lower than the national average.
  • The cost of housing in Palacios is 55% 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 Palacios, TX Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Palacios, 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 Palacios, TX, then you would need to earn more income in order to maintain the same standard of living. To use the Palacios, 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$42,946$3,579$1,002$1,289
Renters$30,020$2,502$700$901
If you want to find a good determining factor for the cost of living and the general affordability of housing in Palacios, 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 Palacios, TX, the median monthly income is $42,946 for those who own their own homes. Under the standard rule, that income level would allow for $1,002 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $30,020, per the median income in the area. That would allow for renters to spend up to $700 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 you are determining the total cost of living in Palacios, TX you will want to make sure you consider both the Texas sales tax and the Texas income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Texas is 6.25%, with the highest surtax being 8.25%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Texas have a range from 0% to 0%.

Goods & Services

ItemPalaciosNational avg.Difference
Haircut $15.33$15.561.5%
Beauty Salon $31.67$36.1112.3%
Toothpaste $1.87$2.4724.5%
Shampoo $0.78$0.9619.2%
Movie $8.01$10.1320.9%
Bowling $3.57$4.7424.5%

Groceries

ItemPalaciosNational avg.Difference
Ground Beef $3.99$3.980.1%
Fried Chicken $0.91$1.4135.3%
Milk $1.67$2.0619.1%
Potatoes $2.51$2.9815.9%
Pizza $7.99$9.4715.7%
Beer $8.82$8.790.3%

Health Care

ItemPalaciosNational avg.Difference
Optometrist $92.77$101.048.2%
Doctor $107.07$107.440.3%
Dentist $94.11$90.424.1%
Ibuprofen $8.20$9.2811.7%
Lipitor $444.78$426.504.3%

Housing

ItemPalaciosNational avg.Difference
Home Price $57,400.00$175,700.0067.3%
Avg. Mortgage Payment $930.97$1,133.2317.8%
Apartment Rent $682.00$920.0025.9%

Transportation

ItemPalaciosNational avg.Difference
Gasoline $1.75$1.9912.2%
Tire Balancing $45.58$45.760.4%

Utilities

ItemPalaciosNational avg.Difference
All Electricity$151.04$163.817.8%
Phone $20.00$28.3929.5%
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.
Blessing, TX1,17671-29%
La Ward, TX20474-26%
Palacios, TX4,69176-24%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Manlius, NY4,6911033%
Spring Lake Heights, NJ4,69114848%
Adairsville, GA4,69286-14%
Vandercook Lake, MI4,69087-13%
Carrollton, VA4,69311818%
Palacios, TX4,69176-24%
Source: The Palacios, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.