Cost of Living in Fulshear, TX

An Overview of Cost of Living in Fulshear, TX

Knowing the cost of living in Fulshear allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Fulshear stands at 141, marking it 41% higher than the national average.

If you're in pursuit of an economical living environment, Fulshear may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Fulshear falls within this bracket.

Housing costs are a major factor in the Fulshear cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 138.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Fulshear Affordable?

Is Fulshear an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fulshear is 133.1% higher than the national average, while the average monthly rent prices are 150.3% higher than average. The affordability of any location can also be influenced by median income levels. Fulshear has a median household income of $162,826, which is 194.3% higher than the national average.

What Factors can Influence the Cost of Living in Fulshear?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Fulshear, healthcare costs are 6.1% lower than the national average.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Fulshear starts at 6.25% and the income tax rates start at 0%.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Fulshear, the groceries index is 0% equal to the national average.

Where is the Data From?

The cost of living data in Fulshear displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.