Woodway 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.
IndexWoodwayTexasNational
Cost of living index9991100
IndexWoodwayTexasNational
Goods & Services index9997100
Groceries index7990100
Health care index9996100
Housing index11081100
Transportation index9795100
Utilities index9194100
The above illustration supplies generalized information for the Woodway, TX cost of living index. Compared to other cities in Texas and cities across the country, the cost of living index in Woodway, TX is 99, which is 9% higher than the Texas average and 1% lower 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 Woodway, TX are 2% higher than the average for Texas and 1% lower than the rest of the country.

Did you know?

  • The cost of living in Woodway is 9% higher than the Texas average.
  • The cost of living in Woodway is 1% lower than the national average.
  • The cost of housing in Woodway is 10% 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 Woodway, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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 Woodway, 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 Woodway, TX, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Woodway, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$82,906$6,909$1,934$2,487
Renters$51,991$4,333$1,213$1,560
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Woodway, TX, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Woodway, TX homeowners have a median income of $82,906. Using that number, you will come up with a maximum of $1,934 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $51,991, which means there is a maximum of $1,213 to be spent on the costs of renting a home or apartment.

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 Woodway, 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

ItemWoodwayNational avg.Difference
Haircut $14.59$14.590.0%
Beauty Salon $38.17$34.6810.1%
Toothpaste $1.50$2.4739.4%
Shampoo $0.75$1.0226.6%
Movie $7.50$9.8724.0%
Bowling $3.67$4.3916.4%

Groceries

ItemWoodwayNational avg.Difference
Ground Beef $4.53$4.481.2%
Fried Chicken $1.02$1.4630.3%
Milk $1.71$2.3627.4%
Potatoes $2.29$3.0625.2%
Pizza $10.32$9.2411.7%
Beer $10.36$8.6320.0%

Health Care

ItemWoodwayNational avg.Difference
Optometrist $83.40$99.7816.4%
Doctor $93.33$105.0311.1%
Dentist $93.83$88.705.8%
Ibuprofen $7.97$9.4115.3%
Lipitor $326.88$298.509.5%

Housing

ItemWoodwayNational avg.Difference
Home Price $182,500.00$175,700.003.9%
Avg. Mortgage Payment $918.47$1,081.0315.0%
Apartment Rent $1,153.00$920.0025.3%

Transportation

ItemWoodwayNational avg.Difference
Gasoline $1.93$2.097.8%
Tire Balancing $49.98$45.2910.4%

Utilities

ItemWoodwayNational avg.Difference
All Electricity$164.09$170.803.9%
Phone $24.01$28.2615.0%
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.
Chilton, TX85177-23%
Bellmead, TX10,05281-19%
Valley Mills, TX1,44981-19%
Beverly Hills, TX1,57981-19%
Lacy-Lakeview, TX6,56982-18%
Woodway, TX8,61499-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West Athens, CA8,61512424%
Northfield, NJ8,61612323%
Rotonda, FL8,6161044%
Angola, IN8,61086-14%
Rapid Valley, SD8,61992-8%
Woodway, TX8,61499-1%
Source: The Woodway, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.