A+
15%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
41%
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 Pecos Texas National
Cost of living8592100
Goods & Services9796100
Groceries9796100
Health care9494100
Housing5983100
Transportation9492100
Utilities99104100

An Overview of Cost of Living in Pecos, TX

Getting a feel for the cost of living in Pecos 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 Pecos is 85, which is 15% 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.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Pecos stands out by reporting housing costs that are 41.3% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

Is Pecos Affordable?

Wondering if Pecos 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 Pecos, for example, the median home price is 54% lower than what folks pay nationally, and monthly rent is 11.7% lower than the usual rates. Plus, income levels matter too, with Pecos boasting a median household income of $53,688, which is 3% lower than the national average.

What Factors can Influence the Cost of Living in Pecos?

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.

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 Pecos, the utilities index registers at 1.5% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The Pecos 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.

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Cost Of Living Quick Facts

  • The cost of living in Pecos is 8% lower than the Texas average
  • The cost of living in Pecos is 15% lower than the national average
  • Pecos housing is 41% 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 Pecos

See all the best places to live around Pecos

Compare Pecos, 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$68,942$5,745$1,609$2,068
      Renters$35,071$2,923$818$1,052
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Pecos, TX, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Pecos, homeowners have a median income of $68,942. Using that number, a maximum of $1,609 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $35,071, which means there is a maximum of $818 to be spent on the costs of renting a home or apartment.

      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 Pecos National avg. Difference
      Haircut $27.73$24.2614.3%
      Beauty Salon $70.27$45.5654.2%
      Toothpaste $3.61$3.702.5%
      Shampoo $1.15$1.2810.2%
      Movie $11.70$12.133.6%
      Bowling $17.73$18.001.5%

      Groceries

      Item Pecos National avg. Difference
      Ground Beef $5.50$5.845.8%
      Fried Chicken $1.67$1.576.0%
      Milk $4.58$4.672.0%
      Potatoes $4.86$4.931.5%
      Pizza $11.64$12.093.7%
      Beer $10.47$10.410.6%

      Health Care

      Item Pecos National avg. Difference
      Optometrist $134.65$125.687.1%
      Doctor $146.52$135.787.9%
      Dentist $122.61$113.298.2%
      Ibuprofen $10.35$10.652.8%
      Lipitor $466.56$468.600.4%

      Housing

      Item Pecos National avg. Difference
      Home Price $85,000.00$184,700.0054.0%
      Avg. Mortgage Payment $1,699.62$2,346.6927.6%
      Apartment Rent $838.00$949.0011.7%

      Transportation

      Item Pecos National avg. Difference
      Gasoline $3.06$3.4611.5%
      Tire Balancing $61.55$59.922.7%

      Utilities

      Item Pecos National avg. Difference
      All Electricity $137.32$193.9929.2%
      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.
      Barstow, TX3707920.6%
      Pecos, TX11,9578514.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lantana, FL11,95811313.3%
      South Miami, FL11,95815151.0%
      East Bethel, MN11,9581087.6%
      Westview, FL11,9551088.4%
      Lansing, KS11,955973.4%
      Pecos, TX11,9578514.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.