AUSTIN (KXAN) – When it comes to the cost of living in the Lone Star State, Austinites pay the most while those living in Midland pay the least, according to a new analysis by Texas Real Estate Source.
Property experts for the real estate search engine analyzed several factors – including property taxes, utilities and prices of some goods and services – and compared them with the average income per capita to determine the cost of living in the state.
Texas Real Estate Source then gave each city a score based on the analysis to rank them.
“When you are on the hunt for a new home, the price of the house isn’t the only thing to consider as there are plenty of other factors that can contribute to your living expenses: utilities, nearby restaurants, transport, and much more. Fortunately, this data not only determines the cities with the lowest cost of living but also reveals some of the most affordable factors,” a spokesperson for the Texas Real Estate Source said.
When conducting the analysis, Texas Real Estate Source included information on per capita personal income; the median property sale price for 2021 and 2022; utility prices; transportation costs; prices of clothing, like jeans and shoes; cost of some common grocery items; and goods related to leisure, like the price of a cappuccino, bottle of wine and a movie ticket.