A+
9%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
16%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Temple Texas National
Cost of living9192100
Goods & Services9096100
Groceries9196100
Health care10694100
Housing8483100
Transportation9092100
Utilities110104100

An Overview of Cost of Living in Temple, TX

Getting a feel for the cost of living in Temple 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 Temple is 91, which is 9% lower 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.

In Temple, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Temple will resemble that of an average city, contributing to a manageable cost of living.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Temple, these goods and services come in at 10.3% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Grocery prices make up 13% of the overall cost of living index. With grocery costs on the rise, it's a challenge to find cities where food won't drain your wallet. But in Temple, the grocery index is 8.7% below average, which means you can enjoy more affordable groceries when compared to other areas across the country.

What Do Locals Say About the Cost of Living in Temple?

Nobody knows their city better than the people who actually live there. So, we asked 10 local residents how they would rate the cost of living in Temple and this is how they responded. 30% of people said that the cost of living was affordable, with prices decreasing, while 70% of people said that the cost of living was very expensive and prices continue to rise.

Is Temple Affordable?

Wondering if Temple 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 Temple, for example, the median home price is 21% lower than what folks pay nationally, and monthly rent is 4% lower than the usual rates. Plus, income levels matter too, with Temple boasting a median household income of $53,723, which is 2.9% lower than the national average.

What Factors can Influence the Cost of Living in Temple?

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 Temple, the utilities index stands at 9.6% higher than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Temple, the prevailing sales tax rate starts at 6.25%, and income tax rates kick off at 0%.

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.

Where is the Data From?

The Temple cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

New Real Estate Listings in Temple Area
Search Homes for Sale in Temple, TX

Cost Of Living Quick Facts

  • The cost of living in Temple is 2% lower than the Texas average
  • The cost of living in Temple is 9% lower than the national average
  • Temple housing is 16% lower than the national average
  • Texas general sales tax is 22% higher than the national average
  • Texas state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Temple

See all the best places to live around Temple

Compare Temple, TX Cost of Living

      vs
      How would you rate the cost of living in Temple?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Temple?
      Write a review to give others more information about this area.
      See all Temple poll results

      Salary Calculator

      This is how much you would need to earn in
      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$73,728$6,144$1,720$2,212
      Renters$33,819$2,818$789$1,015
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Temple, TX, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Temple, homeowners have a median income of $73,728. Using that number, a maximum of $1,720 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $33,819, which means there is a maximum of $789 to be spent on the costs of renting a home or apartment.

      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 Temple National avg. Difference
      Haircut $21.28$24.2612.3%
      Beauty Salon $50.28$45.5610.3%
      Toothpaste $3.57$3.703.7%
      Shampoo $1.35$1.285.7%
      Movie $10.03$12.1317.3%
      Bowling $20.06$18.0011.4%

      Groceries

      Item Temple National avg. Difference
      Ground Beef $5.71$5.842.3%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.56$4.672.5%
      Potatoes $3.98$4.9319.3%
      Pizza $10.63$12.0912.1%
      Beer $9.91$10.414.8%

      Health Care

      Item Temple National avg. Difference
      Optometrist $129.92$125.683.4%
      Doctor $106.41$135.7821.6%
      Dentist $105.82$113.296.6%
      Ibuprofen $10.32$10.653.1%
      Lipitor $466.19$468.600.5%

      Housing

      Item Temple National avg. Difference
      Home Price $145,900.00$184,700.0021.0%
      Avg. Mortgage Payment $2,164.77$2,346.697.8%
      Apartment Rent $911.00$949.004.0%

      Transportation

      Item Temple National avg. Difference
      Gasoline $3.18$3.468.0%
      Tire Balancing $52.82$59.9211.8%

      Utilities

      Item Temple National avg. Difference
      All Electricity $152.98$193.9921.1%
      Phone $207.96$192.258.2%
      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.
      Rogers, TX1,3968119.5%
      Moody, TX1,5258218.1%
      Bruceville-Eddy, TX1,6758613.5%
      Holland, TX1,5748911.0%
      Troy, TX3,0238910.8%
      Temple, TX76,590919.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Gastonia, NC76,635973.3%
      Rapid City, SD76,541981.5%
      Bellflower, CA76,33914949.4%
      Racine, WI76,893927.9%
      Warner Robins, GA76,967909.6%
      Temple, TX76,590919.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.