Cost Of Living in Woodway, 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	Woodway	Texas	National
Cost of living	109	92	100
Goods & Services	100	96	100
Groceries	93	96	100
Health care	91	94	100
Housing	135	83	100
Transportation	91	92	100
Utilities	109	104	100

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Cost Of Living Quick Facts

The cost of living in Woodway is 18% higher than the Texas average
The cost of living in Woodway is 9% higher than the national average
Woodway housing is 35% 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

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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	$99,044	$8,254	$2,311	$2,972
Renters	$66,719	$5,560	$1,557	$2,002

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Woodway, 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 Woodway, homeowners have a median income of $99,044. Using that number, a maximum of $2,311 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $66,719, which means there is a maximum of $1,557 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	Woodway	National avg.	Difference
Haircut	$18.64	$24.26	23.2%
Beauty Salon	$40.42	$45.56	11.3%
Toothpaste	$3.63	$3.70	1.9%
Shampoo	$1.06	$1.28	17.2%
Movie	$9.61	$12.13	20.8%
Bowling	$18.50	$18.00	2.8%

Groceries

Item	Woodway	National avg.	Difference
Ground Beef	$5.43	$5.84	7.0%
Fried Chicken	$1.58	$1.57	0.3%
Milk	$4.60	$4.67	1.5%
Potatoes	$4.55	$4.93	7.9%
Pizza	$12.51	$12.09	3.5%
Beer	$10.32	$10.41	0.9%

Health Care

Item	Woodway	National avg.	Difference
Optometrist	$106.87	$125.68	15.0%
Doctor	$106.77	$135.78	21.4%
Dentist	$108.56	$113.29	4.2%
Ibuprofen	$10.16	$10.65	4.6%
Lipitor	$491.03	$468.60	4.8%

Housing

Item	Woodway	National avg.	Difference
Home Price	$229,600.00	$184,700.00	24.3%
Avg. Mortgage Payment	$1,893.18	$2,346.69	19.3%
Apartment Rent	$1,508.00	$949.00	58.9%

Transportation

Item	Woodway	National avg.	Difference
Gasoline	$3.10	$3.46	10.5%
Tire Balancing	$56.70	$59.92	5.4%

Utilities

Item	Woodway	National avg.	Difference
All Electricity	$212.69	$193.99	9.6%
Phone	$207.96	$192.25	8.2%

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.
Chilton, TX	671	80	20.0%
Bellmead, TX	10,763	85	15.2%
Moody, TX	1,525	82	18.1%
Beverly Hills, TX	2,182	85	14.6%
Golinda, TX	656	87	12.6%
Woodway, TX	8,936	109	9.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
La Grange, KY	8,938	99	0.9%
Ivins, UT	8,931	123	22.5%
Cameron, MO	8,941	87	12.6%
Shawano, WI	8,928	85	14.9%
Lakes, AK	8,944	121	21.5%
Woodway, TX	8,936	109	9.0%

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 Woodway, TX