A+
8%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
17%
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 Granbury Texas National
Cost of living10892100
Goods & Services10896100
Groceries10096100
Health care10894100
Housing11783100
Transportation8992100
Utilities111104100

An Overview of Cost of Living in Granbury, TX

Knowing the cost of living in Granbury allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Granbury stands at 108, marking it 8% higher than the national average.

The cost of living in Granbury is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Is Granbury Affordable?

Is Granbury affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Granbury, the median home price is 19.8% higher than the national average and monthly rent prices are 11.9% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Granbury boasting a median household income of $53,481, 3.3% lower than the national average.

What Factors can Influence the Cost of Living in Granbury?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Granbury, the housing index is 17.4% higher than the national average.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Granbury, the utilities index registers 11.4% higher than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Granbury, healthcare costs are 8.3% higher than the national average.

Where is the Data From?

The Granbury cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Granbury is 17% higher than the Texas average
  • The cost of living in Granbury is 8% higher than the national average
  • Granbury housing is 17% higher 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 Granbury

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Compare Granbury, 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$87,621$7,302$2,044$2,629
      Renters$28,774$2,398$671$863
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Granbury, TX, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Granbury, homeowners have a median income of $87,621. Using that number, a maximum of $2,044 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $28,774, which means there is a maximum of $671 to be spent on the costs of renting a home or apartment.

      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 Granbury National avg. Difference
      Haircut $33.29$24.2637.2%
      Beauty Salon $65.85$45.5644.5%
      Toothpaste $3.57$3.703.6%
      Shampoo $1.30$1.281.3%
      Movie $14.60$12.1320.3%
      Bowling $24.53$18.0036.3%

      Groceries

      Item Granbury National avg. Difference
      Ground Beef $5.23$5.8410.4%
      Fried Chicken $1.74$1.5710.8%
      Milk $4.65$4.670.5%
      Potatoes $4.93$4.930.0%
      Pizza $11.30$12.096.5%
      Beer $10.93$10.415.0%

      Health Care

      Item Granbury National avg. Difference
      Optometrist $143.73$125.6814.4%
      Doctor $140.69$135.783.6%
      Dentist $130.53$113.2915.2%
      Ibuprofen $10.62$10.650.3%
      Lipitor $499.87$468.606.7%

      Housing

      Item Granbury National avg. Difference
      Home Price $221,200.00$184,700.0019.8%
      Avg. Mortgage Payment $2,258.00$2,346.693.8%
      Apartment Rent $1,062.00$949.0011.9%

      Transportation

      Item Granbury National avg. Difference
      Gasoline $3.09$3.4610.7%
      Tire Balancing $52.04$59.9213.2%

      Utilities

      Item Granbury National avg. Difference
      All Electricity $219.02$193.9912.9%
      Phone $208.71$192.258.6%
      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.
      Western Lake, TX5097822.4%
      Oak Trail Shores, TX2,6988911.3%
      Lipan, TX488918.9%
      Canyon Creek, TX952946.2%
      Cresson, TX993972.6%
      Granbury, TX10,3251088.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fairfield, IA10,3278910.7%
      Sauk Village, IL10,319909.8%
      Hillsdale, NJ10,31716060.2%
      Greencastle, IN10,312937.4%
      Lyons, IL10,3381032.7%
      Granbury, TX10,3251088.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.