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Blog Sep 20, 2019

The Cost of Living in Houston

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Are you thinking about moving to a major Texas city in the near future? Many Texans and transplants from other parts of the country love the eccentricity of Austin and the traditional Texas culture of Dallas. But Houston has become one of the most popular places for people of all stages of life to settle down. With a population of 2.1 million and growing, namely because of the cost of living and booming job market, Houston is an extremely attractive city to move to regardless of your stage of life. Between the many downtown neighborhoods within The Loop and the sprawling suburban areas outside of it, the real estate market and cost of living in Houston, Texas is accessible for a wide range of people.

Cost of Living in Houston TX

Are you thinking about moving to a major Texas city in the near future? Many Texans and transplants from other parts of the United States love the eccentricity of Austin and the traditional Texas culture of Dallas. But Houston has become one of the most popular places for people of all stages of life to settle down. With a population of 2.1 million and growing, namely because of the cost of living and booming job market, Houston is an extremely attractive city to move to regardless of your stage of life. Between the many downtown neighborhoods within The Loop and the sprawling suburban areas outside of it, the real estate market and cost of living in Houston, Texas is accessible for a wide range of people.

Cost of Living in Houston, TX

The cost of living is one of the most important things to consider when you are thinking about moving to Houston, Texas. Between the cost of housing and utilities, particularly when deciding between which neighborhood to live in, and the cost of transportation, monthly bills can add up very quickly. According to Numbeo’s 2020 cost of living index of major North American cities, Houston has a low cost of living index at 65.13 compared with New York at 100, Dallas at 68.03 and Austin at 67.79. That being said, Houston has proven to have an accessible cost of living for any budget. Learn about the cost of housing, commuting, and utilities in Houston, Texas below.

Cost of Housing in Houston, TX

The cost of housing in Houston, Texas is quickly determined by where you are in relation to Interstate 610, commonly referred to as “The Loop.” Young professionals typically live, play, and work within the Loop, or downtown Houston, in notably expensive neighborhoods such as West University, River Oaks, East Downtown (EaDo) and The Heights. Even so, Apartment List’s March 2019 report states that the Houston rental market is cheaper than the United States national average, which is helpful since more than half of Houston residents are renters as opposed to homeowners. A Houston renter can get a studio apartment for an average of $735 per month, which is almost $100 less than the national average, and $200 less expensive than the cost of the average studio apartment in Austin.

 

Many families decide to buy a home outside of The Loop in more affordable neighborhoods such as the Bay Area, Cypress, Katy, Sugar Land and The Woodlands. The Houston real estate market is considerably more accessible than other major Texas cities, with the cost of an average single-family at $237,900, according to the National Association of Realtors (2018). In comparison, the average prices of single-family homes would cost $254,900 in Dallas and $310,400 in Austin. In terms of real estate, Houston clearly has the most affordable cost of living and most valuable home prices amongst the biggest cities in Texas.

Cost of Commuting in Houston, TX

Houston is a sprawling city, and if you’re considering living outside of The Loop, you will most definitely need a car. Expect an hour commute regardless of where you are living, and with the Texas heat on full blast year-round, you’ll want to invest in a car with good air conditioning and gas mileage that won’t be too impacted by fluctuating gas prices. The average cost of regular gasoline in Houston in 2018 was $2.42.

 

Living within The Loop allows residents to take advantage of public transportation. In this case, for only $90 you can purchase a 30-day unlimited pass on Houston’s METRO public transportation system. But overall, Houston is a driving city, and it is rare for residents to not own a car, so gas prices are something to take into consideration when determining your Houston cost of living.

Cost of Utilities in Houston, TX

One of the biggest benefits of moving to Houston is that residents can count themselves lucky to live within the limits of Texas’ deregulated electricity market. Residents have the freedom to select a retail energy provider from various companies that service the area, giving them the opportunity to save lots of money on monthly electricity bills and the overall cost of living. This takes the power from the utility companies and places it back in the hands of the customer, who benefits from the highly competitive market. Houston residents are charged an average of 10.98 cents per kilowatt-hour for their energy consumption, which is more than a cent less than the national average rate. contributing to the low cost of living in Houston. 

 

Payless Power provides the best prepaid and standard energy plans with no cancelation fees, no deposits, and no credit checks in the area. Payless Power helps people in Houston get better energy rates and save money on their average power bill, regardless of income or credit history. As a family-owned energy provider and not one of the giant energy suppliers, Payless Powers takes great pride in serving our energy customers with care and respect.

Cost of Living in Houston, TX is Accessible for Everyone!

The affordable cost of living in Houston, Texas is definitely something that should tip the scale in favor of relocating to this incredible city as opposed to other major Texas cities. Get in touch with a Houston real estate agent to get a better idea of what your particular cost of living would be based on the size of your household, which neighborhood you would like to move to inside or outside of The Loop, and how much energy your household consumes monthly. Visit Houston, Texas today to get a taste of the culture waiting for you!

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