Cost Of Living in Groesbeck, TX

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	Groesbeck	Texas	National
Cost of living	85	92	100
Goods & Services	100	96	100
Groceries	93	96	100
Health care	91	94	100
Housing	56	83	100
Transportation	91	92	100
Utilities	109	104	100

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Cost Of Living Quick Facts

The cost of living in Groesbeck is 8% lower than the Texas average
The cost of living in Groesbeck is 15% lower than the national average
Groesbeck housing is 44% lower 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

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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	$55,489	$4,624	$1,295	$1,665
Renters	$25,808	$2,151	$602	$774

The affordability of the housing market in Groesbeck, TX as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Groesbeck homeowners, the median income is $55,489. This indicates that a monthly maximum of $1,295 should be spent by homeowners on all housing related costs. Renters have a median income of $25,808. This indicates that renters would have a maximum of $602 for their rent related monthly 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	Groesbeck	National avg.	Difference
Haircut	$18.64	$24.26	23.2%
Beauty Salon	$40.42	$45.56	11.3%
Toothpaste	$3.63	$3.70	1.9%
Shampoo	$1.06	$1.28	17.2%
Movie	$9.61	$12.13	20.8%
Bowling	$18.50	$18.00	2.8%

Groceries

Item	Groesbeck	National avg.	Difference
Ground Beef	$5.43	$5.84	7.0%
Fried Chicken	$1.58	$1.57	0.3%
Milk	$4.60	$4.67	1.5%
Potatoes	$4.55	$4.93	7.9%
Pizza	$12.51	$12.09	3.5%
Beer	$10.32	$10.41	0.9%

Health Care

Item	Groesbeck	National avg.	Difference
Optometrist	$106.87	$125.68	15.0%
Doctor	$106.77	$135.78	21.4%
Dentist	$108.56	$113.29	4.2%
Ibuprofen	$10.16	$10.65	4.6%
Lipitor	$491.03	$468.60	4.8%

Housing

Item	Groesbeck	National avg.	Difference
Home Price	$93,900.00	$184,700.00	49.2%
Avg. Mortgage Payment	$1,893.18	$2,346.69	19.3%
Apartment Rent	$657.00	$949.00	30.8%

Transportation

Item	Groesbeck	National avg.	Difference
Gasoline	$3.10	$3.46	10.5%
Tire Balancing	$56.70	$59.92	5.4%

Utilities

Item	Groesbeck	National avg.	Difference
All Electricity	$212.69	$193.99	9.6%
Phone	$207.96	$192.25	8.2%

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.
Mexia, TX	7,319	84	15.8%
Thornton, TX	627	85	15.5%
Teague, TX	3,517	85	14.9%
Tehuacana, TX	188	91	9.4%
Groesbeck, TX	4,206	85	14.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lonoke, AR	4,206	86	13.6%
Elmira Heights, NY	4,206	89	11.4%
Shallotte, NC	4,205	102	1.6%
Perth South, ON	4,205	n/a
Vermilion, AB	4,205	n/a
Groesbeck, TX	4,206	85	14.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Groesbeck, TX