An Overview of Cost of Living in Harker Heights, TX
Understanding the cost of living in Harker Heights can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Harker Heights cost of living index is 97, which is 3% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Harker Heights 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.
Everyday staples like clothes, toiletries and entertainment expenses play a big role in your total living costs. But in Harker Heights, these goods are 10.3% cheaper than the national average. So, you can enjoy what you need and love without emptying your wallet. Plus, you'll have more cash to put towards your savings or any other money goals you have, which is a real boost for your financial well-being.
Grocery prices make up 13% of the overall cost of living index. With grocery costs on the rise, it's a challenge to find cities where food won't drain your wallet. But in Harker Heights, the grocery index is 8.7% below average, which means you can enjoy more affordable groceries when compared to other areas across the country.
Is Harker Heights Affordable?
Is Harker Heights an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Harker Heights is 8.7% higher than the national average, while the average monthly rent prices are 3.9% lower than average. The affordability of any location can also be influenced by median income levels. Harker Heights has a median household income of $73,685, which is 33.2% higher than the national average.
What Factors can Influence the Cost of Living in Harker Heights?
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Harker Heights, the housing index comes in at 4.9% higher 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 Harker Heights, healthcare costs are 6.2% 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 Harker Heights, the groceries index registers 8.7% lower than the national average.
Where is the Data From?
The Harker Heights cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.
Here are the best places to live in Texas
See the best places to live in & around Harker Heights
10 Best cities in Texas for employment
10 best cities to buy a new house in Texas