Texas City Named Second Most Expensive for Residents
San Antonio Takes Second Spot as Texas' Priciest City
A recent study by Texas Real Estate Source has revealed that when it comes to the cost of living in the Lone Star State, residents of Austin bear the highest expenses, while those in Midland enjoy the lowest costs.
Various Factors Considered
Experts specializing in real estate at the aforementioned property search engine meticulously examined various factors, including property taxes, utilities, and prices of goods and services. These were then compared against the average per capita income to determine the overall cost of living across different cities in Texas.
By employing this comprehensive analysis, Texas Real Estate Source assigned a score to each city, enabling them to rank the locations accordingly.
"When searching for a new home, it's crucial to consider more than just the house price, as several other factors can significantly impact your living expenses, such as utility costs, dining options, transportation, and more. Thankfully, this data not only highlights cities with the most affordable living costs but also sheds light on the most reasonably priced amenities," explained a spokesperson for Texas Real Estate Source.
During the analysis, Texas Real Estate Source gathered information on per capita personal income, median property sale prices for 2021 and 2022, utility expenses, transportation costs, prices of clothing items like jeans and shoes, common grocery items, and leisure-related goods such as the cost of a cappuccino, bottle of wine, and a movie ticket.
Check out the complete chart here.