Cost of Living in Hurst, TX

An Overview of Cost of Living in Hurst, TX

The cost of living in Hurst affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Hurst is 107, which is 7% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Hurst, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Hurst will resemble that of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Hurst?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Hurst. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 60% found it budget-friendly with decreasing prices, while 40% said it's simply not affordable as prices have continued to rise.

Is Hurst Affordable?

Is Hurst an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Hurst is 13.2% higher than the national average, while the average monthly rent prices are 18% higher than average. The affordability of any location can also be influenced by median income levels. Hurst has a median household income of $64,441, which is 16.5% higher than the national average.

What Factors can Influence the Cost of Living in Hurst?

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Hurst, the housing index comes in at 14.6% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Hurst, the groceries index is 0.1% higher than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The cost of living in Hurst, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.