Kermit, Texas Cost Of Living

Buy Rent

A

20%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

59%

Housing NAT. AVG.

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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Kermit	Texas	National
Cost of living	80	92	100
Goods & Services	96	97	100
Groceries	91	91	100
Health care	99	95	100
Housing	41	83	100
Transportation	100	94	100
Utilities	100	103	100

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Key findings

The cost of living in Kermit is 13% lower than the Texas average
The cost of living in Kermit is 20% lower than the national average
Kermit housing is 59% lower 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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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	$49,150	$4,096	$1,147	$1,475
Renters	$68,333	$5,694	$1,594	$2,050

To approximate the cost of living and the housing affordability in Kermit, TX, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Kermit have a median income of $49,150. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,147 per month to avoid calamity and poverty. The renters in the city have an income of about $68,333, which would make their monthly maximum allowable rental costs $1,594.

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	Kermit	National avg.	Difference
Haircut	$20.39	$20.27	0.6%
Beauty Salon	$36.11	$40.39	10.6%
Toothpaste	$2.18	$2.36	7.7%
Shampoo	$1.14	$1.08	5.9%
Movie	$11.08	$10.99	0.9%
Bowling	$10.83	$15.49	30.1%

Groceries

Item	Kermit	National avg.	Difference
Ground Beef	$4.08	$4.30	5.0%
Fried Chicken	$1.07	$1.40	23.3%
Milk	$1.85	$2.20	16.0%
Potatoes	$1.91	$3.22	40.6%
Pizza	$12.33	$10.74	14.8%
Beer	$10.38	$9.60	8.1%

Health Care

Item	Kermit	National avg.	Difference
Optometrist	$122.50	$109.73	11.6%
Doctor	$130.56	$118.34	10.3%
Dentist	$92.22	$100.94	8.6%
Ibuprofen	$8.73	$9.93	12.1%
Lipitor	$458.44	$469.53	2.4%

Housing

Item	Kermit	National avg.	Difference
Home Price	$47,000.00	$184,700.00	74.6%
Avg. Mortgage Payment	$1,166.88	$1,229.62	5.1%
Apartment Rent	$733.00	$949.00	22.8%

Transportation

Item	Kermit	National avg.	Difference
Gasoline	$2.60	$2.71	4.0%
Tire Balancing	$55.67	$51.86	7.3%

Utilities

Item	Kermit	National avg.	Difference
All Electricity	$170.81	$170.84	0.0%
Phone	$187.73	$187.18	0.3%

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.
Wink, TX	996	79	20.8%
Kermit, TX	6,219	80	20.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Swarthmore, PA	6,218	129	29.1%
Willis, TX	6,217	86	13.7%
Theodore, AL	6,221	87	13.2%
Princeton, KY	6,215	83	16.9%
Humboldt, SK	6,215	n/a
Kermit, TX	6,219	80	20.1%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.