Texarkana, TX Cost Of Living

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Texarkana cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Texarkana	Texas	National
Cost of living index	84	91	100
Index	Texarkana	Texas	National
Goods & Services index	94	95	100
Groceries index	93	90	100
Health care index	94	97	100
Housing index	66	83	100
Transportation index	85	94	100
Utilities index	90	102	100

A general summary of the cost of living index in Texarkana, TX is shown above. Compared to the state average of Texas the cost of living index in Texarkana, TX is 84, which is 8% lower than the average in Texas and compared to the national average it is 16% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Texarkana, TX goods and services come in at 1% lower than the average in Texas and are 6% lower than compared to the nationwide average.

Did you know?

The cost of living in Texarkana is 8% lower than the Texas average.
The cost of living in Texarkana is 16% lower than the national average.
The cost of housing in Texarkana 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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Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in Texarkana, TX to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Texarkana, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Texarkana, TX salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

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 is by simply calculating the maximum that a person should spend on housing in Texarkana, TX, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Texarkana, TX has a median income of about $58,492 for people who own homes. Based on that number, a person should spend a maximum of $1,365 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 of their 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%

When considering the overall cost of living expenses in Texarkana, TX, it's important to take into account the sales tax for Texas, as well as the rate for income tax in Texas. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Texas is 8.25%, and the sales tax in the state of Texas is 6.25%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Texas starts from 0% and goes up to 0%.

Goods & Services

Item	Texarkana	National avg.	Difference
Haircut	$12.33	$17.49	29.5%
Beauty Salon	$31.30	$38.17	18.0%
Toothpaste	$2.10	$2.32	9.5%
Shampoo	$0.98	$1.01	3.2%
Movie	$7.51	$10.72	30.0%
Bowling	$14.25	$13.86	2.8%

Groceries

Item	Texarkana	National avg.	Difference
Ground Beef	$4.36	$3.90	11.8%
Fried Chicken	$1.02	$1.40	26.9%
Milk	$2.03	$1.96	3.5%
Potatoes	$2.98	$3.18	6.4%
Pizza	$10.25	$10.39	1.4%
Beer	$9.26	$9.23	0.3%

Health Care

Item	Texarkana	National avg.	Difference
Optometrist	$68.00	$106.34	36.1%
Doctor	$87.50	$115.25	24.1%
Dentist	$106.67	$98.38	8.4%
Ibuprofen	$9.08	$9.26	2.0%
Lipitor	$477.20	$466.47	2.3%

Housing

Item	Texarkana	National avg.	Difference
Home Price	$115,300.00	$184,700.00	37.6%
Avg. Mortgage Payment	$913.16	$1,273.32	28.3%
Apartment Rent	$704.00	$949.00	25.8%

Transportation

Item	Texarkana	National avg.	Difference
Gasoline	$2.30	$2.59	11.4%
Tire Balancing	$39.75	$48.90	18.7%

Utilities

Item	Texarkana	National avg.	Difference
All Electricity	$138.08	$167.60	17.6%
Phone	$181.89	$163.42	11.3%

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.

City, State	Population	Cost of Living Index	National Avg.
Domino, TX	82	74	-26%
Fulton, AR	228	75	-25%
Fouke, AR	905	77	-23%
Leary, TX	692	79	-21%
Hooks, TX	2,749	81	-19%
Texarkana, TX	37,389	84	-16%

City, State	Population	Cost of Living Index	National Avg.
Dover, DE	37,351	105	5%
Mission Bend, TX	37,334	95	-5%
Keizer, OR	37,497	113	13%
Aventura, FL	37,515	122	22%
Martinez, CA	37,544	157	57%
Texarkana, TX	37,389	84	-16%

Texarkana, TX Cost of Living