| Index | Terrell | Texas | National |
| Cost of living | 94 | 94 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 100 | 98 | 100 |
| Housing | 85 | 83 | 100 |
| Transportation | 95 | 98 | 100 |
| Utilities | 103 | 103 | 100 |
| Lifestyle & Entertainment | 99 | 98 | 100 |
| Household Items | 99 | 98 | 100 |
| Education & Childcare | 94 | 98 | 100 |
Getting a feel for the cost of living in Terrell 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 Terrell is 94, which is 6% 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 Terrell, daily expenses such as food, housing, lifestyle expenses, 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 Terrell will resemble that of an average city, contributing to a manageable cost of living.
The most insightful perspective on a city comes from its residents. We recently surveyed 6 locals to gauge their perception of the cost of living in Terrell. The feedback revealed that 33% of respondents found the cost of living to be reasonable, with prices on the decline, while 67% regarded it as notably expensive with prices that continue to rise.
Is Terrell affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Terrell, for instance, where the median home price falls 25.3% lower than the national average, and monthly rent rates are 7.8% higher than usual. Additionally, median income levels contribute to the equation, with Terrell flaunting a median household income of $78,836, 3.1% lower than the national norm.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Terrell, healthcare costs are 0.3% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
The Terrell 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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| Groceries index | |
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $95,537 | $7,961 | $2,229 | $2,866 |
| Renters | $59,876 | $4,990 | $1,397 | $1,796 |
| 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. |
| Oak Ridge town (Cooke County), TX | 124 | 84 | 16.0% |
| Hawk Cove, TX | 443 | 85 | 14.9% |
| Elmo, TX | 1,796 | 85 | 14.8% |
| West Tawakoni, TX | 2,053 | 86 | 14.4% |
| Quinlan, TX | 1,799 | 89 | 11.4% |
| Terrell, TX | 19,247 | 94 | 5.8% |
| City | Population | Cost of Living Index | National Avg. |
| Concord, MO | 19,251 | 103 | 3.4% |
| Lake Shore, MD | 19,239 | 136 | 35.9% |
| Franklin Farm, VA | 19,257 | 172 | 71.9% |
| Homewood, IL | 19,234 | 100 | 0.4% |
| Culpeper, VA | 19,271 | 117 | 16.7% |
| Terrell, TX | 19,247 | 94 | 5.8% |
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