Cost Of Living in Lake Worth, 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	Lake Worth	Texas	National
Cost of living	101	92	100
Goods & Services	108	96	100
Groceries	100	96	100
Health care	108	94	100
Housing	92	83	100
Transportation	89	92	100
Utilities	111	104	100

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Cost Of Living Quick Facts

The cost of living in Lake Worth is 9% higher than the Texas average
The cost of living in Lake Worth is 1% higher than the national average
Lake Worth housing is 8% 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	$81,042	$6,754	$1,891	$2,432
Renters	$72,716	$6,060	$1,697	$2,182

The affordability of the housing market in Lake Worth, 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 Lake Worth homeowners, the median income is $81,042. This indicates that a monthly maximum of $1,891 should be spent by homeowners on all housing related costs. Renters have a median income of $72,716. This indicates that renters would have a maximum of $1,697 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	Lake Worth	National avg.	Difference
Haircut	$33.29	$24.26	37.2%
Beauty Salon	$65.85	$45.56	44.5%
Toothpaste	$3.57	$3.70	3.6%
Shampoo	$1.30	$1.28	1.3%
Movie	$14.60	$12.13	20.3%
Bowling	$24.53	$18.00	36.3%

Groceries

Item	Lake Worth	National avg.	Difference
Ground Beef	$5.23	$5.84	10.4%
Fried Chicken	$1.74	$1.57	10.8%
Milk	$4.65	$4.67	0.5%
Potatoes	$4.93	$4.93	0.0%
Pizza	$11.30	$12.09	6.5%
Beer	$10.93	$10.41	5.0%

Health Care

Item	Lake Worth	National avg.	Difference
Optometrist	$143.73	$125.68	14.4%
Doctor	$140.69	$135.78	3.6%
Dentist	$130.53	$113.29	15.2%
Ibuprofen	$10.62	$10.65	0.3%
Lipitor	$499.87	$468.60	6.7%

Housing

Item	Lake Worth	National avg.	Difference
Home Price	$148,300.00	$184,700.00	19.7%
Avg. Mortgage Payment	$2,258.00	$2,346.69	3.8%
Apartment Rent	$1,126.00	$949.00	18.7%

Transportation

Item	Lake Worth	National avg.	Difference
Gasoline	$3.09	$3.46	10.7%
Tire Balancing	$52.04	$59.92	13.2%

Utilities

Item	Lake Worth	National avg.	Difference
All Electricity	$219.02	$193.99	12.9%
Phone	$208.71	$192.25	8.6%

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.
Lakeside town (San Patricio County), TX	307	87	13.0%
Pelican Bay, TX	1,618	90	10.2%
Sansom Park, TX	5,593	93	7.3%
Everman, TX	6,232	94	6.0%
Forest Hill, TX	12,964	96	3.6%
Lake Worth, TX	4,932	101	0.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
June Park, FL	4,932	106	6.1%
Albertson, NY	4,930	184	84.3%
Vancleave, MS	4,934	97	2.7%
Lexington, OH	4,937	88	12.4%
Adairsville, GA	4,926	92	8.3%
Lake Worth, TX	4,932	101	0.5%

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 Lake Worth, TX