| Index | Irving | Texas | National |
| Cost of living | 103 | 94 | 100 |
| Groceries | 100 | 98 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 114 | 83 | 100 |
| Transportation | 103 | 98 | 100 |
| Utilities | 103 | 103 | 100 |
| Lifestyle & Entertainment | 96 | 98 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 95 | 98 | 100 |
Getting a feel for the cost of living in Irving 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 Irving is 103, which is 3% higher 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 Irving aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Irving residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Locals have the inside scoop on their city. So, we polled 17 residents in Irving to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 47% find it reasonable with decreasing prices, but 53% think it's quite pricey, with prices that continue to rise.
Is Irving affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Irving, for instance, where the median home price falls 10.4% higher than the national average, and monthly rent rates are 22.5% higher than usual. Additionally, median income levels contribute to the equation, with Irving flaunting a median household income of $98,329, 20.9% higher than the national norm.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Irving, the utilities index stands at 3.2% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
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 Irving, is 14% higher than the national average.
The Irving cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $134,675 | $11,223 | $3,142 | $4,041 |
| Renters | $84,966 | $7,081 | $1,982 | $2,549 |
| State | General Sales Tax | With Max Surtax |
| Texas | 6.25% | 8.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Texas | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Horseshoe Bend, TX | 641 | 83 | 16.7% |
| Hutchins, TX | 5,962 | 88 | 12.2% |
| Cockrell Hill, TX | 4,306 | 92 | 7.9% |
| Grand Prairie, TX | 198,327 | 100 | 0.1% |
| Duncanville, TX | 40,397 | 100 | 0.3% |
| Irving, TX | 248,458 | 103 | 3.5% |
| City | Population | Cost of Living Index | National Avg. |
| Longueuil, QC | 249,920 | n/a | |
| Norfolk, VA | 250,142 | 109 | 9.3% |
| Chesapeake, VA | 251,202 | 119 | 18.8% |
| Garland, TX | 245,211 | 102 | 1.8% |
| Arlington, VA | 244,812 | 179 | 79.4% |
| Irving, TX | 248,458 | 103 | 3.5% |
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