| Index | Southlake | Texas | National |
| Cost of living | 163 | 94 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 99 | 98 | 100 |
| Housing | 314 | 83 | 100 |
| Transportation | 98 | 98 | 100 |
| Utilities | 101 | 103 | 100 |
| Lifestyle & Entertainment | 97 | 98 | 100 |
| Household Items | 100 | 98 | 100 |
| Education & Childcare | 100 | 98 | 100 |
Getting a feel for the cost of living in Southlake 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 Southlake is 163, which is 63% 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.
If you value affordability in your search for a new place to live, Southlake may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Southlake falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs significantly influence the Southlake cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 213.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Southlake and this is how they responded. 40% of people said that the cost of living was affordable, with prices decreasing, while 60% of people said that the cost of living was very expensive and prices continue to rise.
Wondering if Southlake 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 Southlake, for example, the median home price is 288.9% higher than what folks pay nationally, and monthly rent is 38.4% higher than the usual rates. Plus, income levels matter too, with Southlake boasting a median household income of $335,120, which is 312% higher than the national average.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Southlake, the transportation index is 2.1% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Southlake, healthcare costs are 1.4% lower than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The Southlake cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $346,404 | $28,867 | $8,082 | $10,393 |
| Renters | $74,000 | $6,167 | $1,727 | $2,220 |
| 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. |
| Corral City, TX | 14 | 99 | 1.3% |
| Bristol, TX | 462 | 99 | 1.1% |
| Horseshoe Bend, TX | 641 | 83 | 16.7% |
| Sansom Park, TX | 5,730 | 91 | 9.4% |
| Blue Mound, TX | 2,372 | 93 | 6.8% |
| Southlake, TX | 32,343 | 163 | 63.0% |
| City | Population | Cost of Living Index | National Avg. |
| American Fork, UT | 32,330 | 120 | 20.1% |
| Needham, MA | 32,325 | 202 | 101.5% |
| Garfield, NJ | 32,363 | 131 | 31.2% |
| West Bend, WI | 32,289 | 99 | 1.2% |
| Saratoga Springs, UT | 32,406 | 129 | 28.9% |
| Southlake, TX | 32,343 | 163 | 63.0% |
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