What is the Average Cost of Living in Texas per Year?
The average cost of living in Texas is much lower than the average cost of living in many other states. This is partly because of the tax friendly environment in this State. The State collects no personal tax or corporate tax. However, it does collect property tax at a rate between 2% and 2.50%, which is slightly higher than what other States charge. Average home rentals in Houston are $650, which compares favorably with many cities of equal importance in other States. Cost of milk, eggs, and fruits is also lower in Texas, including in cities like Houston, and Austin. On average the food bill per month of a person living in Texas may be around $500 for a family of 2, with a bias towards lower end. This includes milk, eggs, fruits, and other meats, apart from some nutritious foods and even a bottle of beer. Of course, the food considered here is not from higher end. The average price of a home in Texas as of August 2010 is about $156,120. It compares very favorably in relation to average household income in the State as of that date, which is about $43,510 per annum. Effectively, the average cost of living in Texas for an entire year would be between $13500 and $14000 per annum.