Providence Village 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.
IndexProvidence VillageTexasNational
Cost of living index11091100
IndexProvidence VillageTexasNational
Goods & Services index10297100
Groceries index10190100
Health care index10296100
Housing index11481100
Transportation index14795100
Utilities index10294100
Here we can see a simple outline of the cost of living in Providence Village, TX. As you can see, with the average cost of living in Providence Village, TX being 110, that puts it 22% higher than the average of Texas and 10% higher 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 Providence Village, 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 Providence Village is 22% higher than the Texas average.
  • The cost of living in Providence Village is 10% higher than the national average.
  • The cost of housing in Providence Village is 14% 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 Providence Village, TX Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Use the salary calculator to compare your current income in Providence Village, 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 Providence Village, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Providence Village, 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$85,726$7,144$2,000$2,572
Renters$85,765$7,147$2,001$2,573
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Providence Village, TX, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Providence Village, TX has a median income of about $85,726 for people who own homes. Based on that number, a person should spend a maximum of $2,000 on expenses related to housing. Renters have a slightly different median income, which is $85,765. Based on this average, renters should spend no more than $2,001 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Providence Village, 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

ItemProvidence VillageNational 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

ItemProvidence VillageNational 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

ItemProvidence VillageNational 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

ItemProvidence VillageNational avg.Difference
Home Price $148,000.00$175,700.0015.8%
Avg. Mortgage Payment $886.79$1,081.0318.0%
Apartment Rent $1,703.00$920.0085.1%

Transportation

ItemProvidence VillageNational avg.Difference
Gasoline $3.36$2.0960.5%
Tire Balancing $50.12$45.2910.7%

Utilities

ItemProvidence VillageNational 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%
Pilot Point, TX3,96786-14%
Gunter, TX1,56987-13%
Aubrey, TX2,7091011%
Providence Village, TX4,97511010%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Homestead Meadows North, TX4,97480-20%
Swartz, LA4,97788-12%
Maplewood, WA4,97213434%
Clementon, NJ4,9721066%
King George, VA4,9711088%
Providence Village, TX4,97511010%
Source: The Providence Village, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.