| Index | Sherman | Texas | National |
| Cost of living | 92 | 94 | 100 |
| Groceries | 97 | 98 | 100 |
| Health care | 101 | 98 | 100 |
| Housing | 79 | 83 | 100 |
| Transportation | 97 | 98 | 100 |
| Utilities | 100 | 103 | 100 |
| Lifestyle & Entertainment | 100 | 98 | 100 |
| Household Items | 99 | 98 | 100 |
| Education & Childcare | 96 | 98 | 100 |
Understanding the cost of living in Sherman 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 Sherman cost of living index is 92, which is 8% 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 Sherman 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. Sherman 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 6 residents in Sherman 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? 17% find it reasonable with decreasing prices, but 83% think it's quite pricey, with prices that continue to rise.
Wondering if Sherman 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 Sherman, for example, the median home price is 28.3% lower than what folks pay nationally, and monthly rent is 4.3% lower than the usual rates. Plus, income levels matter too, with Sherman boasting a median household income of $74,374, which is 8.6% lower than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Sherman, the housing index is 21.1% lower than the national average.
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 Sherman, the utilities index stands at 0.2% lower than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Sherman, the groceries index is 2.9% lower than the national average.
The Sherman 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 | $93,092 | $7,758 | $2,172 | $2,793 |
| Renters | $55,619 | $4,635 | $1,298 | $1,669 |
| 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. |
| Hendrix, OK | 85 | 80 | 20.4% |
| Achille, OK | 384 | 82 | 17.9% |
| Knollwood, TX | 417 | 83 | 16.6% |
| Savoy, TX | 1,030 | 87 | 13.5% |
| Southmayd, TX | 1,559 | 87 | 12.8% |
| Sherman, TX | 44,313 | 92 | 7.5% |
| City | Population | Cost of Living Index | National Avg. |
| Innisfil, ON | 44,305 | n/a | |
| Burlington, VT | 44,321 | 121 | 21.1% |
| Farmers Branch, TX | 44,287 | 106 | 5.9% |
| Altadena, CA | 44,242 | 189 | 88.7% |
| Goose Creek, SC | 44,214 | 106 | 6.4% |
| Sherman, TX | 44,313 | 92 | 7.5% |
Here are the best places to live in Texas
Check out the 10 most dangerous cities in Texas
Check out the 10 safest cities in Texas
These are the 10 cheapest cities in Texas