Southlake 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.
IndexSouthlakeTexasNational
Cost of living index15091100
IndexSouthlakeTexasNational
Goods & Services index11597100
Groceries index9090100
Health care index10296100
Housing index25881100
Transportation index9595100
Utilities index9794100
The above illustration supplies generalized information for the Southlake, TX cost of living index. Compared to other cities in Texas and cities across the country, the cost of living index in Southlake, TX is 150, which is 66% higher than the Texas average and 50% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Southlake, TX are 18% higher than the average for Texas and 15% higher than the rest of the country.

Did you know?

  • The cost of living in Southlake is 66% higher than the Texas average.
  • The cost of living in Southlake is 50% higher than the national average.
  • The cost of housing in Southlake is 158% 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 Southlake, 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 salary in Southlake, 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 Southlake, TX, then you would need to earn more income in order to maintain the same standard of living. To use the Southlake, 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$184,258$15,355$4,299$5,528
Renters$63,685$5,307$1,486$1,911
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Southlake, TX as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Southlake, TX homeowners, is $184,258. This would allow for a maximum of $4,299 per month to be spent on housing costs. For renters, the median monthly income is $63,685 which would result in a maximum of $1,486 to be spent on rental 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 considering the overall cost of living expenses in Southlake, 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

ItemSouthlakeNational 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

ItemSouthlakeNational 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

ItemSouthlakeNational 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

ItemSouthlakeNational avg.Difference
Home Price $530,300.00$175,700.00201.8%
Avg. Mortgage Payment $832.74$1,081.0323.0%
Apartment Rent $1,425.00$920.0054.9%

Transportation

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

Utilities

ItemSouthlakeNational 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.
Horseshoe Bend, TX70379-21%
Sansom Park, TX4,76989-11%
Haltom City, TX43,25991-9%
River Oaks, TX7,57591-9%
Blue Mound, TX2,83594-6%
Southlake, TX27,75515050%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Harker Heights, TX27,75793-7%
Marshalltown, IA27,74980-20%
Holbrook, NY27,76514646%
Big Spring, TX27,76883-17%
Mason City, IA27,77583-17%
Southlake, TX27,75515050%
Source: The Southlake, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.