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John Coletti/Getty Images November 08, 2022 Rae Hartley Beck is a writer and editor with over eight years of experience in personal finance. Her work has most recently appeared in Bankrate, MoneyWise and Investopedia. Rae specializes in credit card rewards, investing, real estate, home improvement, lending and financial advice for millennials, Gen Z, Gen Alpha and their parents. Troy Segal is Bankrate's Senior Homeownership Editor, focusing on everything from upkeep and maintenance to building equity and enhancing value. Bankrate logo The Bankrate promise
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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Buying or selling a home is one of the biggest financial decisions an individual will ever make. Our real estate reporters and editors focus on educating consumers about this life-changing transaction and how to navigate the complex and ever-changing housing market. From finding an agent to closing and beyond, our goal is to help you feel confident that you're making the best, and smartest, real estate deal possible. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. It’s the biggest town in a big state, and nationwide it’s no piker either. Houston is the fourth largest city in the country — and also the biggest metropolitan area in the United States without a state income tax. Boasting a plentiful array of everything from restaurants to sports teams, it’s one of the (and, some would say, anywhere). Houston does have a few drawbacks, namely a high hurricane risk and a significant lack of public transit options for a city its size. But If you’re willing to overlook those issues, you’ll benefit from mild winters and a cost of living that, for a cosmopolitan area, is low: , the next largest city in the U.S. (by population), for example. Overall, the cost of living in Houston runs about than the national average. Housing costs
The cost of livin’ is , which has attracted plenty of transplants during the pandemic — from employees able to to early or new retirees. As a result, has become significantly more expensive in the last two years. Still, as urban areas go, Houston isn’t bad (it’s not even the most expensive town in Texas — that honor belongs to Plano). The median home sale price in greater metropolitan areas, as of September 2022, was $310,000, according to data from Redfin. Considering the nationwide median home sale price for the third quarter of 2022 is $144,900 higher at, it’s easy to see why is an attractive option. The city has programs to aid , too, and Texas itself has to help first-time homeowners. Although the pace of sales is slowing down, homes do , spending on average less than a month (26 days) on the market, according to Redfin data for September 2022. Average rent in Houston is similarly affordable compared to most other cities of similar size. As of November 5, 2022, the average rent for a one-bedroom apartment in Houston, Texas was $1,350, according to the rental website Zumper. Job market
The job market in Houston is relatively strong with several Fortune 500 countries headquartered in the city. The Bureau of Labor Statistics listed the local unemployment rate in September 2022 as 4.2 percent, only slightly higher than the nationwide unemployment rate of 3.5 percent during the same time period. Census data for 2020 listed the median household income in Houston as $53,600 (though that probably doesn’t reflect any pandemic-fueled increases in wages). Food costs
Food costs are significantly lower than in the rest of the country, with the Bureau of Labor Statistics (BLS) finding that the average Houston household spends of its total budget on food, compared to the nationwide average of 12.2 percent. Houston isn’t just an affordable city to eat in. It’s also a delicious one, frequently showing up on lists of “top foodie cities in the country.” Transportation
Spanning over 660 square miles,Houston is a notoriously car-dependent city with some of the biggest interstates in the country. The Katy Freeway, which runs from Houston to the nearby suburb of Katy, is one of the widest freeways in the world, with sections of it spanning 26 lanes. The city center does have a metro line and bus system with fares varying from $1.25 to $8 per ride, but the routes and schedules are minimal compared to other burgs. If you’re planning to live or work outside of downtown, you’ll likely need to factor car ownership, maintenance and insurance into your budget. Car insurance in Houston is typically higher on average than in the , which already has higher car insurance rates than the rest of the country. Local state property taxes and fees
Texas has no state income tax, but the average in the state is relatively high . The sales tax rate in Texas is 6.25 percent, and the city of Houston has an additional 1 percent sales tax for a combined total sales tax of 7.25 percent for goods purchased within city limits. Moving to Houston
The to Houston depends on where you’re moving from, your household size, and how much stuff you have. Find a great local to work with, so you can find the best neighborhood and that fits your needs, as well as FAQs
How much does it cost to live in Houston each month
According to the Bureau of Labor Statistics Consumer Price Index survey, the average household in Houston making , which breaks out to $5,181 per month. But individual spending will vary based on household size and lifestyle preferences, naturally.
What s the cost of living in Houston compared to Texas
The cost of living in Houston is 2 percent higher than the rest of Texas but 6 percent lower than the national average, according to the rental listing website RentCafe.
What s the cost of living in Houston compared to Austin
The cost of living in Houston is .
How do Houston s housing costs and average salary impact the cost of living
Houston’s relatively low housing costs and moderately high average salary makes the cost of living in the city very affordable compared to others. Housing and transportation are Houstonians’ biggest expenditures, comprising 37 percent and 17.7 percent of household budgets, . SHARE: Rae Hartley Beck is a writer and editor with over eight years of experience in personal finance. Her work has most recently appeared in Bankrate, MoneyWise and Investopedia. Rae specializes in credit card rewards, investing, real estate, home improvement, lending and financial advice for millennials, Gen Z, Gen Alpha and their parents. Troy Segal is Bankrate's Senior Homeownership Editor, focusing on everything from upkeep and maintenance to building equity and enhancing value. Related Articles