Cost of Living in Garland, TX

An Overview of Cost of Living in Garland, TX

Getting a feel for the cost of living in Garland 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 Garland is 109, which is 9% 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 Garland is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Garland, these items will cost you 20.6% more than what most folks pay, making it a bit more expensive to live here.

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

Nobody knows their city better than the people who actually live there. So, we asked 11 local residents how they would rate the cost of living in Garland and this is how they responded. 91% of people said that the cost of living was affordable, with prices decreasing, while 9% of people said that the cost of living was very expensive and prices continue to rise.

Is Garland Affordable?

Wondering if Garland 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 Garland, for example, the median home price is 6.6% lower than what folks pay nationally, and monthly rent is 24.6% higher than the usual rates. Plus, income levels matter too, with Garland boasting a median household income of $63,192, which is 14.2% higher than the national average.

What Factors can Influence the Cost of Living in Garland?

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Garland, the groceries index is 3% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Garland, the prevailing sales tax rate starts at 6.25%, and income tax rates kick off at 0%.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Garland, the healthcare costs are 9.8% higher than the national average.

Where is the Data From?

The cost of living data in Garland 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.