Wharton, TX Cost Of Living

Wharton 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	Wharton	Texas	National
Cost of living index	75	91	100
Index	Wharton	Texas	National
Goods & Services index	86	93	100
Groceries index	83	91	100
Health care index	101	96	100
Housing index	51	83	100
Transportation index	93	94	100
Utilities index	72	100	100

A general overview of the cost of living index for Wharton, TX is displayed above. In Wharton, TX, the overall cost of living index is 75, which is 17% lower than the Texas average and 25% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Wharton, TX, the city's goods and services are 8% lower than the Texas average and 14% lower than the U.S. average.

Did you know?

The cost of living in Wharton is 17% lower than the Texas average.
The cost of living in Wharton is 25% lower than the national average.
The cost of housing in Wharton is 49% 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

Use the salary calculator to compare your current income in Wharton, TX to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Wharton, TX, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Wharton, TX salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$38,640	$3,220	$902	$1,159
Renters	$20,000	$1,667	$467	$600

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Wharton, TX, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Wharton, TX homeowners have a median income of $38,640. Using that number, you will come up with a maximum of $902 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $20,000, which means there is a maximum of $467 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%

When assessing the complete cost of living in Wharton, TX, the Texas income tax and the Texas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Texas maximum surtax is 8.25%, and the Texas sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Texas.

Goods & Services

Item	Wharton	National avg.	Difference
Haircut	$15.40	$16.09	4.3%
Beauty Salon	$33.50	$37.33	10.3%
Toothpaste	$1.86	$2.45	23.9%
Shampoo	$0.78	$1.00	22.0%
Movie	$7.69	$10.28	25.2%
Bowling	$3.92	$4.93	20.5%

Groceries

Item	Wharton	National avg.	Difference
Ground Beef	$3.36	$3.80	11.7%
Fried Chicken	$0.99	$1.40	29.4%
Milk	$1.47	$2.01	26.6%
Potatoes	$1.83	$3.01	39.3%
Pizza	$8.32	$9.89	15.8%
Beer	$8.77	$8.90	1.5%

Health Care

Item	Wharton	National avg.	Difference
Optometrist	$102.00	$102.16	0.2%
Doctor	$110.52	$108.36	2.0%
Dentist	$96.61	$92.53	4.4%
Ibuprofen	$8.11	$9.28	12.6%
Lipitor	$431.50	$425.82	1.3%

Housing

Item	Wharton	National avg.	Difference
Home Price	$78,900.00	$184,700.00	57.3%
Avg. Mortgage Payment	$1,022.22	$1,202.44	15.0%
Apartment Rent	$671.00	$949.00	29.3%

Transportation

Item	Wharton	National avg.	Difference
Gasoline	$2.02	$2.24	10.2%
Tire Balancing	$46.75	$46.29	1.0%

Utilities

Item	Wharton	National avg.	Difference
All Electricity	$131.84	$165.96	20.6%
Phone	$18.33	$28.68	36.1%

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, State	Population	Cost of Living Index	National Avg.
Hungerford, TX	58	86	-14%
Iago, TX	71	68	-32%
Boling, TX	861	72	-28%
Kendleton, TX	307	76	-24%
Beasley, TX	656	84	-16%
Wharton, TX	8,773	75	-25%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Collingdale, PA	8,777	101	1%
Riverside, IL	8,779	131	31%
Booneville, MS	8,764	77	-23%
Cloverdale, CA	8,763	140	40%
McRae-Helena, GA	8,763	76	-24%
Wharton, TX	8,773	75	-25%

Source: The Wharton, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Wharton, TX Cost of Living