Cost of Living in Keller, TX

An Overview of Cost of Living in Keller, TX

Getting a feel for the cost of living in Keller 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 Keller is 135, which is 35% 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.

If you're in pursuit of an economical living environment, Keller 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, Keller falls within this bracket.

Housing costs significantly influence the Keller cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 105.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

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

Nobody knows their city better than the people who actually live there. So, we asked 16 local residents how they would rate the cost of living in Keller and this is how they responded. 44% of people said that the cost of living was affordable, with prices decreasing, while 56% of people said that the cost of living was very expensive and prices continue to rise.

Is Keller Affordable?

Wondering if Keller 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 Keller, for example, the median home price is 123.5% higher than what folks pay nationally, and monthly rent is 62.7% higher than the usual rates. Plus, income levels matter too, with Keller boasting a median household income of $149,342, which is 170% higher than the national average.

What Factors can Influence the Cost of Living in Keller?

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.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Keller, the transportation index is 11.4% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Keller, the housing index is 105.3% higher than the national average.

Where is the Data From?

The Keller 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.