A+
4%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
22%
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 Forest Hill Texas National
Cost of living9692100
Goods & Services10896100
Groceries10096100
Health care10894100
Housing7883100
Transportation8992100
Utilities111104100

An Overview of Cost of Living in Forest Hill, TX

Knowing the cost of living in Forest Hill allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Forest Hill stands at 96, marking it 4% lower than the national average.

The cost of living in Forest Hill 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.

Is Forest Hill Affordable?

Wondering if Forest Hill is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Forest Hill, for example, the median home price is 39.7% lower than what folks pay nationally, and monthly rent is 19.6% higher than the usual rates. Plus, income levels matter too, with Forest Hill boasting a median household income of $47,308, which is 14.5% lower than the national average.

What Factors can Influence the Cost of Living in Forest Hill?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Forest Hill, the transportation index is 11.4% lower than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Forest Hill, healthcare costs are 8.3% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Forest Hill, the groceries index registers 0.1% higher than the national average.

Where is the Data From?

The cost of living data in Forest Hill 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 Forest Hill is 4% higher than the Texas average
  • The cost of living in Forest Hill is 4% lower than the national average
  • Forest Hill housing is 22% 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 Forest Hill

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Compare Forest Hill, 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$49,147$4,096$1,147$1,475
      Renters$40,159$3,347$937$1,205
      A good way to judge both the affordability of the housing and the cost of living in Forest Hill is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Forest Hill has a median income of about $49,147 for people who own homes. Based on that number, a maximum of $1,147 should be spent on expenses related to housing. Renters have a slightly different median income, which is $40,159. Based on this average, renters should spend no more than $937 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Forest Hill National avg. Difference
      Haircut $33.29$24.2637.2%
      Beauty Salon $65.85$45.5644.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.30$1.281.3%
      Movie $14.60$12.1320.3%
      Bowling $24.53$18.0036.3%

      Groceries

      Item Forest Hill National avg. Difference
      Ground Beef $5.23$5.8410.4%
      Fried Chicken $1.74$1.5710.8%
      Milk $4.65$4.670.5%
      Potatoes $4.93$4.930.0%
      Pizza $11.30$12.096.5%
      Beer $10.93$10.415.0%

      Health Care

      Item Forest Hill National avg. Difference
      Optometrist $143.73$125.6814.4%
      Doctor $140.69$135.783.6%
      Dentist $130.53$113.2915.2%
      Ibuprofen $10.62$10.650.3%
      Lipitor $499.87$468.606.7%

      Housing

      Item Forest Hill National avg. Difference
      Home Price $111,300.00$184,700.0039.7%
      Avg. Mortgage Payment $2,258.00$2,346.693.8%
      Apartment Rent $1,135.00$949.0019.6%

      Transportation

      Item Forest Hill National avg. Difference
      Gasoline $3.09$3.4610.7%
      Tire Balancing $52.04$59.9213.2%

      Utilities

      Item Forest Hill National avg. Difference
      All Electricity $219.02$193.9912.9%
      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.
      Lakeside town (San Patricio County), TX3078713.0%
      Sansom Park, TX5,593937.3%
      Everman, TX6,232946.0%
      Blue Mound, TX2,317973.3%
      River Oaks, TX7,653973.1%
      Forest Hill, TX12,964963.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      El Sobrante CDP (Contra Costa County), CA12,96313030.1%
      Greenwich, CT12,967235135.0%
      Lynnfield, MA12,96818080.3%
      Claremont, NH12,9691066.0%
      Oakland, NJ12,95313939.0%
      Forest Hill, TX12,964963.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.