A+
1%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
7%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Galveston Texas National
Cost of living10192100
Goods & Services10196100
Groceries10096100
Health care9494100
Housing10783100
Transportation9092100
Utilities103104100

An Overview of Cost of Living in Galveston, TX

Getting a feel for the cost of living in Galveston is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Galveston is 101, which is 1% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Galveston aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Galveston residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

What Do Locals Say About the Cost of Living in Galveston?

Locals have the inside scoop on their city. So, we polled 6 residents in Galveston to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 50% find it reasonable with decreasing prices, but 50% think it's quite pricey, with prices that continue to rise.

Is Galveston Affordable?

Wondering if Galveston is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Galveston, for example, the median home price is 6.3% higher than what folks pay nationally, and monthly rent is 7.9% higher than the usual rates. Plus, income levels matter too, with Galveston boasting a median household income of $51,280, which is 7.3% lower than the national average.

What Factors can Influence the Cost of Living in Galveston?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Galveston, the utilities index registers at 2.7% higher than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Galveston, the housing index comes in at 6.8% higher than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Galveston, the transportation index is 9.6% lower than the national average.

Where is the Data From?

The Galveston cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Galveston is 10% higher than the Texas average
  • The cost of living in Galveston is 1% higher than the national average
  • Galveston housing is 7% higher than the national average
  • Texas general sales tax is 22% higher than the national average
  • Texas state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Galveston

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Compare Galveston, TX Cost of Living

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      Salary Calculator

          This is how much you would need to earn in
          Price difference in compared to
          Cost of living index
          Goods & Services index
          Groceries index
          Health care index
          Housing index
          Transportation index
          Utilities index

          Median Income & Debt-To-Income Ratio

          Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
          Owners$77,842$6,487$1,816$2,335
          Renters$36,454$3,038$851$1,094
          The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Galveston, TX, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Galveston homeowners, is $77,842. This would allow for a maximum of $1,816 per month to be spent on housing costs. For renters, the median monthly income is $36,454 which would result in a maximum of $851 to be spent on rental costs.

          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%

          Goods & Services

          Item Galveston National avg. Difference
          Haircut $20.33$24.2616.2%
          Beauty Salon $47.38$45.564.0%
          Toothpaste $3.48$3.706.1%
          Shampoo $1.22$1.285.0%
          Movie $12.19$12.130.4%
          Bowling $15.83$18.0012.0%

          Groceries

          Item Galveston National avg. Difference
          Ground Beef $5.25$5.8410.1%
          Fried Chicken $1.61$1.572.4%
          Milk $4.55$4.672.5%
          Potatoes $5.00$4.931.4%
          Pizza $11.82$12.092.2%
          Beer $10.38$10.410.3%

          Health Care

          Item Galveston National avg. Difference
          Optometrist $125.98$125.680.2%
          Doctor $90.89$135.7833.1%
          Dentist $108.10$113.294.6%
          Ibuprofen $10.46$10.651.8%
          Lipitor $503.40$468.607.4%

          Housing

          Item Galveston National avg. Difference
          Home Price $196,400.00$184,700.006.3%
          Avg. Mortgage Payment $2,055.86$2,346.6912.4%
          Apartment Rent $1,024.00$949.007.9%

          Transportation

          Item Galveston National avg. Difference
          Gasoline $3.14$3.469.1%
          Tire Balancing $56.62$59.925.5%

          Utilities

          Item Galveston National avg. Difference
          All Electricity $233.43$193.9920.3%
          Phone $208.71$192.258.6%
          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 Population Cost of Living Index National Avg.
          La Marque, TX16,983918.9%
          Hitchcock, TX7,831918.7%
          Texas City, TX49,468946.3%
          Bacliff, TX11,513955.4%
          San Leon, TX5,439955.4%
          Galveston, TX50,3071011.3%

          Cities with similar population

          City Population Cost of Living Index National Avg.
          Maricopa, AZ50,35811615.7%
          Plainfield, NJ50,25211817.9%
          Aliso Viejo, CA50,38517474.2%
          Georgina, ON50,195n/a 
          Stillwater, OK50,183954.7%
          Galveston, TX50,3071011.3%
          Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.