A
10%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
30%
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 Midland Texas National
Cost of living11092100
Goods & Services10796100
Groceries9696100
Health care9594100
Housing13083100
Transportation9492100
Utilities102104100

An Overview of Cost of Living in Midland, TX

Understanding the cost of living in Midland can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Midland cost of living index is 110, which is 10% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

When it comes to the cost of living in Midland, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 29.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 15 locals to gauge their perception of the cost of living in Midland. 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 Midland Affordable?

Is Midland 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 Midland, the median home price is 28.9% higher than the national average and monthly rent prices are 32.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Midland boasting a median household income of $83,616, 51.1% higher than the national average.

What Factors can Influence the Cost of Living in Midland?

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.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Midland, the utilities index stands at 1.6% higher than the national average.

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 Midland, the healthcare costs are 5.4% lower than the national average.

Where is the Data From?

The cost of living in Midland, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Midland is 19% higher than the Texas average
  • The cost of living in Midland is 10% higher than the national average
  • Midland housing is 30% higher 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 Midland

See all the best places to live around Midland

Compare Midland, 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$101,679$8,473$2,372$3,051
      Renters$56,502$4,709$1,318$1,695
      A good indicator of the general affordability of housing in Midland, TX, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Midland, the median monthly income is $101,679 for those who own their own homes. Under the standard rule, that income level would allow for $2,372 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $56,502, per the median income in the area. That would allow for renters to spend up to $1,318 on monthly rental expenses.

      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 Midland National avg. Difference
      Haircut $21.94$24.269.6%
      Beauty Salon $42.50$45.566.7%
      Toothpaste $3.56$3.703.8%
      Shampoo $1.09$1.2814.6%
      Movie $11.10$12.138.5%
      Bowling $17.50$18.002.8%

      Groceries

      Item Midland National avg. Difference
      Ground Beef $5.37$5.848.0%
      Fried Chicken $1.67$1.576.2%
      Milk $4.59$4.671.8%
      Potatoes $4.86$4.931.6%
      Pizza $13.76$12.0913.8%
      Beer $10.32$10.410.8%

      Health Care

      Item Midland National avg. Difference
      Optometrist $136.50$125.688.6%
      Doctor $124.57$135.788.3%
      Dentist $98.00$113.2913.5%
      Ibuprofen $10.26$10.653.7%
      Lipitor $494.47$468.605.5%

      Housing

      Item Midland National avg. Difference
      Home Price $238,000.00$184,700.0028.9%
      Avg. Mortgage Payment $2,016.51$2,346.6914.1%
      Apartment Rent $1,256.00$949.0032.3%

      Transportation

      Item Midland National avg. Difference
      Gasoline $3.15$3.468.9%
      Tire Balancing $61.44$59.922.5%

      Utilities

      Item Midland National avg. Difference
      All Electricity $179.20$193.997.6%
      Phone $207.58$192.258.0%
      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.
      Midland, TX141,19411010.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fullerton, CA141,06117069.6%
      St. Catharines, ON140,913n/a 
      Murfreesboro, TN141,7041076.8%
      Miramar, FL140,47912222.0%
      Dayton, OH140,4448515.2%
      Midland, TX141,19411010.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.