Roanoke 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.
IndexRoanokeTexasNational
Cost of living index10191100
IndexRoanokeTexasNational
Goods & Services index11597100
Groceries index9090100
Health care index10296100
Housing index9381100
Transportation index9595100
Utilities index9794100
A general overview of the cost of living index for Roanoke, TX is displayed above. In Roanoke, TX, the overall cost of living index is 101, which is 11% higher than the Texas average and 1% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Roanoke, TX, the city's goods and services are 18% higher than the Texas average and 15% higher than the U.S. average.

Did you know?

  • The cost of living in Roanoke is 11% higher than the Texas average.
  • The cost of living in Roanoke is 1% higher than the national average.
  • The cost of housing in Roanoke is 7% 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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Salary Calculator

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Use the salary calculator to compare your current income in Roanoke, 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 Roanoke, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Roanoke, 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$76,371$6,364$1,782$2,291
Renters$38,408$3,201$896$1,152
The affordability of the housing market in Roanoke, TX as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Roanoke, TX homeowners, the median income is $76,371. This indicates that a monthly maximum of $1,782 should be spent by homeowners on all housing related costs. Renters have a median income of $38,408. This indicates that renters should have a maximum of $896 used for their rent related monthly costs.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
When assessing the complete cost of living in Roanoke, TX, the Texas income tax and the Texas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Texas maximum surtax is 8.25%, and the Texas sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Texas.

Goods & Services

ItemRoanokeNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $58.00$34.6867.2%
Toothpaste $2.02$2.4718.3%
Shampoo $1.22$1.0219.4%
Movie $9.96$9.870.9%
Bowling $5.25$4.3919.5%

Groceries

ItemRoanokeNational avg.Difference
Ground Beef $4.32$4.483.5%
Fried Chicken $1.39$1.465.1%
Milk $2.00$2.3615.1%
Potatoes $3.22$3.065.2%
Pizza $8.55$9.247.5%
Beer $8.82$8.632.2%

Health Care

ItemRoanokeNational avg.Difference
Optometrist $89.67$99.7810.1%
Doctor $106.00$105.030.9%
Dentist $95.67$88.707.9%
Ibuprofen $8.78$9.416.7%
Lipitor $305.36$298.502.3%

Housing

ItemRoanokeNational avg.Difference
Home Price $144,100.00$175,700.0018.0%
Avg. Mortgage Payment $832.74$1,081.0323.0%
Apartment Rent $1,084.00$920.0017.8%

Transportation

ItemRoanokeNational avg.Difference
Gasoline $1.94$2.097.2%
Tire Balancing $45.00$45.290.6%

Utilities

ItemRoanokeNational avg.Difference
All Electricity$181.35$170.806.2%
Phone $24.00$28.2615.1%
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%
Sansom Park, TX4,76989-11%
Haltom City, TX43,25991-9%
New Fairview, TX1,09092-8%
Lake Worth, TX4,67192-8%
Roanoke, TX6,4881011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Eatonton, GA6,48981-19%
Huntingburg, IN6,48984-16%
St. John, MO6,48689-11%
Strasburg, VA6,4861022%
Ben Lomond, CA6,48515757%
Roanoke, TX6,4881011%
Source: The Roanoke, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.