Cost of Living in Haltom City, TX

An Overview of Cost of Living in Haltom City, TX

Are you thinking about relocating, but curious about the potential cost of living in Haltom City? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Haltom City stands at 98, making it 2% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In Haltom City, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Haltom City will resemble that of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Haltom City?

Locals have the inside scoop on their city. So, we polled 6 residents in Haltom City 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 Haltom City Affordable?

Is Haltom City affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Haltom City, the median home price is 28.6% lower than the national average and monthly rent prices are 10.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Haltom City boasting a median household income of $51,067, 7.7% lower than the national average.

What Factors can Influence the Cost of Living in Haltom City?

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Haltom City, the transportation index stands at 11.4% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Haltom City, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 0%.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The Haltom City cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.