A+
2%
Overall NAT. AVG.
21%
Goods & Services NAT. AVG.
31%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Denison Texas National
Cost of living9892100
Goods & Services12196100
Groceries9796100
Health care11094100
Housing6983100
Transportation9492100
Utilities115104100

An Overview of Cost of Living in Denison, TX

Getting a feel for the cost of living in Denison is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Denison is 98, which is 2% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Denison is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Denison, these items will cost you 20.6% more than what's considered the norm, making it a more expensive place to call home.

What Do Locals Say About the Cost of Living in Denison?

The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Denison. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.

Is Denison Affordable?

Is Denison affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Denison, the median home price is 41.7% lower than the national average and monthly rent prices are 7.1% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Denison boasting a median household income of $50,701, 8.4% lower than the national average.

What Factors can Influence the Cost of Living in Denison?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Denison, the transportation index is 6.4% lower than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Denison, is 31.3% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Denison comes in at 15.1% higher than the national average.

Where is the Data From?

The cost of living data in Denison displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Denison is 6% higher than the Texas average
  • The cost of living in Denison is 2% lower than the national average
  • Denison housing is 31% lower than the national average
  • Texas general sales tax is 22% higher than the national average
  • Texas state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Denison

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Compare Denison, TX Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$61,282$5,107$1,430$1,839
      Renters$34,365$2,864$802$1,031
      A good indicator of the general affordability of housing in Denison, TX, 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 Denison, the median monthly income is $61,282 for those who own their own homes. Under the standard rule, that income level would allow for $1,430 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $34,365, per the median income in the area. That would allow for renters to spend up to $802 on monthly rental expenses.

      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%

      Goods & Services

      Item Denison National avg. Difference
      Haircut $23.57$24.262.8%
      Beauty Salon $35.11$45.5622.9%
      Toothpaste $3.51$3.705.1%
      Shampoo $1.22$1.284.7%
      Movie $11.85$12.132.3%
      Bowling $16.96$18.005.8%

      Groceries

      Item Denison National avg. Difference
      Ground Beef $5.44$5.846.9%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.670.9%
      Potatoes $4.15$4.9316.0%
      Pizza $11.96$12.091.0%
      Beer $10.27$10.411.4%

      Health Care

      Item Denison National avg. Difference
      Optometrist $96.63$125.6823.1%
      Doctor $131.00$135.783.5%
      Dentist $86.73$113.2923.4%
      Ibuprofen $10.40$10.652.4%
      Lipitor $484.49$468.603.4%

      Housing

      Item Denison National avg. Difference
      Home Price $107,600.00$184,700.0041.7%
      Avg. Mortgage Payment $1,562.33$2,346.6933.4%
      Apartment Rent $882.00$949.007.1%

      Transportation

      Item Denison National avg. Difference
      Gasoline $3.47$3.460.3%
      Tire Balancing $66.47$59.9210.9%

      Utilities

      Item Denison National avg. Difference
      All Electricity $145.64$193.9924.9%
      Phone $208.71$192.258.6%
      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 Population Cost of Living Index National Avg.
      Platter, OK15411111.0%
      New Woodville, OK5011111.0%
      Hendrix, OK818812.0%
      Cartwright, OK4838911.2%
      Achille, OK376919.2%
      Denison, TX24,851981.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Forest Grove, OR24,84712626.4%
      North Laurel, MD24,85613131.1%
      Burlington, IA24,8588812.1%
      Bainbridge Island, WA24,85918787.5%
      Ardmore, OK24,8348614.0%
      Denison, TX24,851981.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.