A+
10%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
36%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Big Spring Texas National
Cost of living9092100
Goods & Services10796100
Groceries9696100
Health care9594100
Housing6483100
Transportation9492100
Utilities102104100

An Overview of Cost of Living in Big Spring, TX

Getting a feel for the cost of living in Big Spring is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Big Spring is 90, which is 10% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Big Spring aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Big Spring residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

What Do Locals Say About the Cost of Living in Big Spring?

The real experts on a city are its residents. That's why we reached out to 6 locals to get their views on the cost of living in Big Spring. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 50% found it budget-friendly with decreasing prices, while 50% said it's simply not affordable as prices have continued to rise.

Is Big Spring Affordable?

Is Big Spring affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Big Spring, for instance, where the median home price falls 48.7% lower than the national average, and monthly rent rates are 7.2% lower than usual. Additionally, median income levels contribute to the equation, with Big Spring flaunting a median household income of $55,637, 0.6% higher than the national norm.

What Factors can Influence the Cost of Living in Big Spring?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Big Spring, the transportation index is 6.5% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Big Spring, healthcare costs are 5.4% lower than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Big Spring, the housing index stands at 36.3% lower than the national average.

Where is the Data From?

The Big Spring cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Big Spring is 2% lower than the Texas average
  • The cost of living in Big Spring is 10% lower than the national average
  • Big Spring housing is 36% lower than the national average
  • Texas general sales tax is 22% higher than the national average
  • Texas state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Big Spring

See all the best places to live around Big Spring

Compare Big Spring, TX Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$63,832$5,319$1,489$1,915
      Renters$40,707$3,392$950$1,221
      A good way to judge both the affordability of the housing and the cost of living in Big Spring is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Big Spring has a median income of about $63,832 for people who own homes. Based on that number, a maximum of $1,489 should be spent on expenses related to housing. Renters have a slightly different median income, which is $40,707. Based on this average, renters should spend no more than $950 on all rental costs if they want to maintain a non-impoverished standard of living.

      Texas Sales Tax

      State General Sales Tax With Max Surtax
      Texas 6.25% 8.25%

      Texas Income Tax

      State Income Tax (Low) Income Tax (High)
      Texas 0% 0%

      Goods & Services

      Item Big Spring National avg. Difference
      Haircut $21.94$24.269.6%
      Beauty Salon $42.50$45.566.7%
      Toothpaste $3.56$3.703.8%
      Shampoo $1.09$1.2814.6%
      Movie $11.10$12.138.5%
      Bowling $17.50$18.002.8%

      Groceries

      Item Big Spring National avg. Difference
      Ground Beef $5.37$5.848.0%
      Fried Chicken $1.67$1.576.2%
      Milk $4.59$4.671.8%
      Potatoes $4.86$4.931.6%
      Pizza $13.76$12.0913.8%
      Beer $10.32$10.410.8%

      Health Care

      Item Big Spring National avg. Difference
      Optometrist $136.50$125.688.6%
      Doctor $124.57$135.788.3%
      Dentist $98.00$113.2913.5%
      Ibuprofen $10.26$10.653.7%
      Lipitor $494.47$468.605.5%

      Housing

      Item Big Spring National avg. Difference
      Home Price $94,700.00$184,700.0048.7%
      Avg. Mortgage Payment $2,016.51$2,346.6914.1%
      Apartment Rent $881.00$949.007.2%

      Transportation

      Item Big Spring National avg. Difference
      Gasoline $3.15$3.468.9%
      Tire Balancing $61.44$59.922.5%

      Utilities

      Item Big Spring National avg. Difference
      All Electricity $179.20$193.997.6%
      Phone $207.58$192.258.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Forsan, TX4498317.2%
      Sand Springs, TX7468415.7%
      Coahoma, TX783918.7%
      Big Spring, TX27,878909.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Winchester, VA27,91211313.0%
      Old Bridge, NJ27,83612928.7%
      Oakdale, MN27,9251054.6%
      Drexel Hill, PA27,9251033.4%
      Magog, QC27,928n/a 
      Big Spring, TX27,878909.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.