Cost of Living in Lubbock, TX

Housing

The housing market plays a significant role in determining the cost of living in Lubbock, TX.

• Housing Index: 85.0 / 100
• Median Home Price is: $232000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1280 per month

Considering the housing market in Lubbock, TX, it's evident that the housing index stands at 85.0, reflecting a moderately affordable environment compared to national averages. With a median home price of 232000, purchasing property seems viable for first-time buyers or families. For renters, the average rent for a 2-bedroom apartment is 1200 and 1280 for a house. This suggests a competitive rental market, but still managed affordability. It's also wise to consider job opportunities and amenities in the area, which can greatly influence your decision to move within or outside Lubbock.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lubbock, TX.

• Electricity Price: 14.47 USD (median by state)
• Natural Gas Price: $26.29 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $260 per month

Living in Lubbock, TX could entail higher utility costs. Electricity costs sit at 14.47, while natural gas is priced at 26.29 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 260 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 91.2

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $58734

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Lubbock, TX, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.