A+
11%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
36%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Marshall Texas National
Cost of living8992100
Goods & Services9896100
Groceries9896100
Health care9094100
Housing6483100
Transportation9292100
Utilities116104100

An Overview of Cost of Living in Marshall, TX

Getting a feel for the cost of living in Marshall 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 Marshall is 89, which is 11% lower 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.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Marshall. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.

Is Marshall Affordable?

Wondering if Marshall 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 Marshall, for example, the median home price is 43.5% lower than what folks pay nationally, and monthly rent is 17.9% lower than the usual rates. Plus, income levels matter too, with Marshall boasting a median household income of $42,467, which is 23.2% lower than the national average.

What Factors can Influence the Cost of Living in Marshall?

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 Marshall, the healthcare costs are 10.5% lower than the national average.

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 Marshall, the transportation index stands at 8.1% lower than the national average.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The Marshall cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Marshall is 4% lower than the Texas average
  • The cost of living in Marshall is 11% lower than the national average
  • Marshall housing is 36% 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

Most Affordable Places to Live in and Around Marshall

See all the best places to live around Marshall

Compare Marshall, TX Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$57,308$4,776$1,337$1,719
      Renters$24,247$2,021$566$727
      A good way to judge both the affordability of the housing and the cost of living in Marshall is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Marshall has a median income of about $57,308 for people who own homes. Based on that number, a maximum of $1,337 should be spent on expenses related to housing. Renters have a slightly different median income, which is $24,247. Based on this average, renters should spend no more than $566 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Marshall National avg. Difference
      Haircut $18.67$24.2623.1%
      Beauty Salon $37.78$45.5617.1%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.13$1.2812.0%
      Movie $10.54$12.1313.1%
      Bowling $18.50$18.002.8%

      Groceries

      Item Marshall National avg. Difference
      Ground Beef $4.69$5.8419.7%
      Fried Chicken $1.59$1.571.2%
      Milk $4.57$4.672.3%
      Potatoes $4.55$4.937.8%
      Pizza $11.66$12.093.6%
      Beer $10.28$10.411.3%

      Health Care

      Item Marshall National avg. Difference
      Optometrist $98.31$125.6821.8%
      Doctor $86.72$135.7836.1%
      Dentist $77.67$113.2931.4%
      Ibuprofen $10.25$10.653.8%
      Lipitor $462.37$468.601.3%

      Housing

      Item Marshall National avg. Difference
      Home Price $104,400.00$184,700.0043.5%
      Avg. Mortgage Payment $1,364.93$2,346.6941.8%
      Apartment Rent $779.00$949.0017.9%

      Transportation

      Item Marshall National avg. Difference
      Gasoline $2.94$3.4614.9%
      Tire Balancing $63.94$59.926.7%

      Utilities

      Item Marshall National avg. Difference
      All Electricity $200.43$193.993.3%
      Phone $208.71$192.258.6%
      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.
      Nesbitt, TX108990.7%
      Easton, TX4248415.5%
      Scottsville, TX335972.8%
      Hallsville, TX4,297991.0%
      Uncertain, TX721000.3%
      Marshall, TX22,8818911.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Dickinson, ND22,8801043.8%
      Lutz, FL22,87111716.6%
      Derry, NH22,89112120.8%
      Uxbridge, ON22,892n/a 
      Solon, OH22,85811414.0%
      Marshall, TX22,8818911.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.