Texas state is an excellent place to live for its low cost of living. It's 2 bedroom rent is significantly lower than the US average at $1,280 - $1,430. Similarly, the grocery cost index in Texas is 94/100 compared to the US average. Home to major cities such as Austin, Houston and Dallas, Texas State houses local companies such as Dell Technologies, AT&T and H-E-B Grocery Company. The booming economy makes Texas a great place to live and work with plenty of job opportunities.
Texas has an unemployment rate of 7.2%. The US average is 6.0%.
Texas has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Texas
- The Sales Tax Rate for Texas is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Texas is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Texas
- The average income of a Texas resident is $26,513 a year. The US average is $28,555 a year.
- The Median household income of a Texas resident is $67,321 a year. The US average is $69,021 a year.