Red Oak, TX Cost Of Living

Red Oak cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Red Oak	Texas	National
Cost of living index	96	91	100
Index	Red Oak	Texas	National
Goods & Services index	102	93	100
Groceries index	95	91	100
Health care index	101	96	100
Housing index	85	83	100
Transportation index	99	94	100
Utilities index	104	100	100

The above illustration supplies generalized information for the Red Oak, TX cost of living index. Compared to other cities in Texas and cities across the country, the cost of living index in Red Oak, TX is 96, which is 6% higher than the Texas average and 4% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Red Oak, TX are 10% higher than the average for Texas and 2% higher than the rest of the country.

Did you know?

The cost of living in Red Oak is 6% higher than the Texas average.
The cost of living in Red Oak is 4% lower than the national average.
The cost of housing in Red Oak is 15% 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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Compare Red Oak, TX Cost of living To Other Cities

Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in Red Oak, TX to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Red Oak, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Red Oak, TX salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$83,850	$6,988	$1,956	$2,516
Renters	$37,949	$3,162	$885	$1,139

One can approximate the cost of living and the housing affordability in Red Oak, TX by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Red Oak, TX have a median income of $83,850. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,956 per month to avoid calamity and poverty. The renters in the city have an income of about $37,949, which would make their monthly maximum allowable rental costs $885.

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%

When considering the overall cost of living expenses in Red Oak, TX, it's important to take into account the sales tax for Texas, as well as the rate for income tax in Texas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Texas is 8.25%, and the sales tax in the state of Texas is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Texas starts from 0% and goes up to 0%.

Goods & Services

Item	Red Oak	National avg.	Difference
Haircut	$24.91	$16.09	54.9%
Beauty Salon	$44.84	$37.33	20.1%
Toothpaste	$2.36	$2.45	3.4%
Shampoo	$1.27	$1.00	26.6%
Movie	$10.58	$10.28	2.9%
Bowling	$6.63	$4.93	34.4%

Groceries

Item	Red Oak	National avg.	Difference
Ground Beef	$3.86	$3.80	1.4%
Fried Chicken	$1.49	$1.40	6.9%
Milk	$1.90	$2.01	5.2%
Potatoes	$3.31	$3.01	10.0%
Pizza	$9.15	$9.89	7.4%
Beer	$8.73	$8.90	1.9%

Health Care

Item	Red Oak	National avg.	Difference
Optometrist	$109.38	$102.16	7.1%
Doctor	$106.11	$108.36	2.1%
Dentist	$96.42	$92.53	4.2%
Ibuprofen	$8.87	$9.28	4.4%
Lipitor	$428.97	$425.82	0.7%

Housing

Item	Red Oak	National avg.	Difference
Home Price	$154,000.00	$184,700.00	16.6%
Avg. Mortgage Payment	$1,158.00	$1,202.44	3.7%
Apartment Rent	$847.00	$949.00	10.7%

Transportation

Item	Red Oak	National avg.	Difference
Gasoline	$2.09	$2.24	7.1%
Tire Balancing	$52.22	$46.29	12.8%

Utilities

Item	Red Oak	National avg.	Difference
All Electricity	$182.84	$165.96	10.2%
Phone	$28.15	$28.68	1.9%

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, State	Population	Cost of Living Index	National Avg.
Wilmer, TX	3,903	84	-16%
Garrett, TX	826	85	-15%
Hutchins, TX	5,644	87	-13%
Ferris, TX	2,527	87	-13%
Cockrell Hill, TX	4,301	87	-13%
Red Oak, TX	11,663	96	-4%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Los Alamitos, CA	11,661	171	71%
Cypress Lake, FL	11,656	92	-8%
Clayton, CA	11,655	181	81%
South Lyon, MI	11,672	95	-5%
Magnolia, AR	11,651	81	-19%
Red Oak, TX	11,663	96	-4%

Source: The Red Oak, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Red Oak, TX Cost of Living