Cost Of Living In Vernon, TX

Vernon 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.
Index	Vernon	Texas	National
Cost of living index	76	90	100
Index	Vernon	Texas	National
Goods & Services index	90	94	100
Groceries index	88	89	100
Health care index	98	95	100
Housing index	44	81	100
Transportation index	86	93	100
Utilities index	91	95	100

A general overview of the cost of living index for Vernon, TX is displayed above. In Vernon, TX, the overall cost of living index is 76, which is 15% lower than the Texas average and 24% lower 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 Vernon, TX, the city's goods and services are 5% lower than the Texas average and 11% lower than the U.S. average.

Did you know?

The cost of living in Vernon is 15% lower than the Texas average.
The cost of living in Vernon is 24% lower than the national average.
The cost of housing in Vernon is 56% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in Vernon, TX to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Vernon, TX, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Vernon, TX salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$47,344	$3,945	$1,105	$1,420
Renters	$25,867	$2,156	$604	$776

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Vernon, 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 Vernon, TX homeowners, is $47,344. This would allow for a maximum of $1,105 per month to be spent on housing costs. For renters, the median monthly income is $25,867 which would result in a maximum of $604 to be spent on rental costs.

Texas Sales Tax

State	General Sales Tax	With Max Surtax
Texas	6.25%	8.25%

Texas Income Tax

State	Income Tax (Low)	Income Tax (High)
Texas	0%	0%

One thing to keep in mind when considering the cost of living in Vernon, 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

Item	Vernon	National avg.	Difference
Haircut	$12.75	$15.56	18.1%
Beauty Salon	$29.90	$36.11	17.2%
Toothpaste	$1.93	$2.47	22.1%
Shampoo	$0.77	$0.96	20.2%
Movie	$10.52	$10.13	3.8%
Bowling	$3.65	$4.74	22.9%

Groceries

Item	Vernon	National avg.	Difference
Ground Beef	$3.76	$3.98	5.5%
Fried Chicken	$1.06	$1.41	24.9%
Milk	$1.57	$2.06	23.9%
Potatoes	$2.30	$2.98	23.0%
Pizza	$7.99	$9.47	15.6%
Beer	$8.48	$8.79	3.6%

Health Care

Item	Vernon	National avg.	Difference
Optometrist	$103.21	$101.04	2.1%
Doctor	$95.94	$107.44	10.7%
Dentist	$92.67	$90.42	2.5%
Ibuprofen	$8.20	$9.28	11.7%
Lipitor	$443.12	$426.50	3.9%

Housing

Item	Vernon	National avg.	Difference
Home Price	$62,900.00	$175,700.00	64.2%
Avg. Mortgage Payment	$850.66	$1,133.23	24.9%
Apartment Rent	$585.00	$920.00	36.4%

Transportation

Item	Vernon	National avg.	Difference
Gasoline	$1.77	$1.99	11.4%
Tire Balancing	$36.87	$45.76	19.4%

Utilities

Item	Vernon	National avg.	Difference
All Electricity	$174.71	$163.81	6.7%
Phone	$20.00	$28.39	29.6%

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, State	Population	Cost of Living Index	National Avg.
Davidson, OK	374	72	-28%
Chillicothe, TX	686	73	-27%
Vernon, TX	11,005	76	-24%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Crestwood, IL	11,006	103	3%
Quartz Hill, CA	11,002	111	11%
Kennett, MO	11,002	78	-22%
Dobbs Ferry, NY	11,001	163	63%
Walker Mill, MD	11,001	118	18%
Vernon, TX	11,005	76	-24%

Source: The Vernon, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Vernon, TX Cost of Living