Cost of Living in Mission, TX

An Overview of Cost of Living in Mission, TX

Understanding the cost of living in Mission 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 Mission cost of living index is 86, which is 14% lower 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.

Everyday basics like clothes, personal care items and entertainment factor into your overall living costs. But here's the good news: in Mission, these things are 12.5% more affordable than the national average. So, you can get what you need and have fun without emptying your wallet. With these savings, you can stash more money in your savings or put it towards other financial goals, ultimately improving your financial health.

As grocery prices continue to rise at a staggering rate, finding cities with affordable food can be a struggle. Luckily, Mission boasts a grocery index that is 8.6% below the national average, ensuring that you can enjoy more affordable groceries compared to many other cities across the country.

Is Mission Affordable?

Is Mission an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Mission, the median home price is 32% lower than what most folks pay across the country, and monthly rent prices are 10.7% lower than the usual rates. Income levels in Mission come in at $49,358, which is 10.8% lower than the national average.

What Factors can Influence the Cost of Living in Mission?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Mission, the utilities index registers at 5.5% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Mission, the groceries index registers 8.6% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Mission, healthcare costs are 24.2% lower than the national average.

Where is the Data From?

The Mission 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.