University Park 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.
IndexUniversity ParkTexasNational
Cost of living index21091100
IndexUniversity ParkTexasNational
Goods & Services index11497100
Groceries index10790100
Health care index10496100
Housing index45081100
Transportation index9095100
Utilities index10494100
A general overview of the cost of living index for University Park, TX is displayed above. In University Park, TX, the overall cost of living index is 210, which is 131% higher than the Texas average and 110% 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 University Park, TX, the city's goods and services are 17% higher than the Texas average and 14% higher than the U.S. average.

Did you know?

  • The cost of living in University Park is 131% higher than the Texas average.
  • The cost of living in University Park is 110% higher than the national average.
  • The cost of housing in University Park is 350% 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 University Park, TX Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in University Park, 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 University Park, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the University Park, 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$232,672$19,389$5,429$6,981
Renters$76,761$6,397$1,791$2,303
If you want to find a good determining factor for the cost of living and the general affordability of housing in University Park, 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 University Park, TX, the median monthly income is $232,672 for those who own their own homes. Under the standard rule, that income level would allow for $5,429 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $76,761, per the median income in the area. That would allow for renters to spend up to $1,791 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 assessing the complete cost of living in University Park, 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

ItemUniversity ParkNational avg.Difference
Haircut $21.33$14.5946.2%
Beauty Salon $41.25$34.6818.9%
Toothpaste $3.28$2.4732.6%
Shampoo $1.57$1.0253.6%
Movie $10.65$9.877.9%
Bowling $5.51$4.3925.5%

Groceries

ItemUniversity ParkNational avg.Difference
Ground Beef $4.85$4.488.3%
Fried Chicken $1.47$1.460.4%
Milk $1.99$2.3615.6%
Potatoes $2.95$3.063.6%
Pizza $10.19$9.2410.2%
Beer $9.74$8.6312.8%

Health Care

ItemUniversity ParkNational avg.Difference
Optometrist $112.00$99.7812.2%
Doctor $101.25$105.033.6%
Dentist $96.00$88.708.2%
Ibuprofen $10.95$9.4116.3%
Lipitor $303.46$298.501.7%

Housing

ItemUniversity ParkNational avg.Difference
Home Price $983,800.00$175,700.00459.9%
Avg. Mortgage Payment $723.28$1,081.0333.1%
Apartment Rent $1,791.00$920.0094.7%

Transportation

ItemUniversity ParkNational avg.Difference
Gasoline $1.80$2.0913.9%
Tire Balancing $45.12$45.290.4%

Utilities

ItemUniversity ParkNational avg.Difference
All Electricity$181.49$170.806.3%
Phone $28.15$28.260.4%
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.
Horseshoe Bend, TX70379-21%
Hutchins, TX5,41092-8%
Cockrell Hill, TX4,26793-7%
Seagoville, TX15,37993-7%
Balch Springs, TX24,69393-7%
University Park, TX23,761210110%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Carteret, NJ23,77011919%
Tarpon Springs, FL23,78996-4%
Cloverleaf, TX23,73285-15%
Romulus, MI23,72183-17%
Selma, CA23,8081011%
University Park, TX23,761210110%
Source: The University Park, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.