Texarkana, Texas Cost Of Living

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Overall 16%

Goods & Services 6%

Housing 34%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Texarkana	Texas	National
Cost of living	84	92	100
Goods & Services	94	97	100
Groceries	94	91	100
Health care	89	95	100
Housing	66	83	100
Transportation	85	94	100
Utilities	89	103	100

Key findings

The cost of living in Texarkana is 9% lower than the Texas average
The cost of living in Texarkana is 16% lower than the national average
Texarkana housing is 34% 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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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	$58,492	$4,874	$1,365	$1,755
Renters	$22,108	$1,842	$516	$663

A good way to judge both the affordability of the housing and the cost of living in Texarkana is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Texarkana has a median income of about $58,492 for people who own homes. Based on that number, a maximum of $1,365 should be spent on expenses related to housing. Renters have a slightly different median income, which is $22,108. Based on this average, renters should spend no more than $516 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Texarkana	National avg.	Difference
Haircut	$17.22	$20.27	15.0%
Beauty Salon	$36.25	$40.39	10.3%
Toothpaste	$2.53	$2.36	7.1%
Shampoo	$1.02	$1.08	5.5%
Movie	$6.40	$10.99	41.8%
Bowling	$10.00	$15.49	35.4%

Groceries

Item	Texarkana	National avg.	Difference
Ground Beef	$3.85	$4.30	10.3%
Fried Chicken	$1.10	$1.40	21.2%
Milk	$2.41	$2.20	9.6%
Potatoes	$3.03	$3.22	5.8%
Pizza	$9.99	$10.74	7.0%
Beer	$9.80	$9.60	2.1%

Health Care

Item	Texarkana	National avg.	Difference
Optometrist	$79.33	$109.73	27.7%
Doctor	$103.33	$118.34	12.7%
Dentist	$84.33	$100.94	16.5%
Ibuprofen	$9.67	$9.93	2.7%
Lipitor	$498.11	$469.53	6.1%

Housing

Item	Texarkana	National avg.	Difference
Home Price	$115,300.00	$184,700.00	37.6%
Avg. Mortgage Payment	$767.84	$1,229.62	37.6%
Apartment Rent	$704.00	$949.00	25.8%

Transportation

Item	Texarkana	National avg.	Difference
Gasoline	$2.37	$2.71	12.7%
Tire Balancing	$42.33	$51.86	18.4%

Utilities

Item	Texarkana	National avg.	Difference
All Electricity	$136.54	$170.84	20.1%
Phone	$188.11	$187.18	0.5%

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.
Domino, TX	82	73	26.6%
Fulton, AR	228	75	25.3%
Fouke, AR	905	76	23.5%
Leary, TX	692	79	21.0%
Hooks, TX	2,749	81	19.3%
Texarkana, TX	37,389	84	16.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Dover, DE	37,351	105	5.3%
Mission Bend, TX	37,334	96	4.1%
Keizer, OR	37,497	110	9.7%
Aventura, FL	37,515	126	26.1%
Martinez, CA	37,544	155	55.2%
Texarkana, TX	37,389	84	16.1%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.