C-
21%
Overall NAT. AVG.
21%
Goods & Services NAT. AVG.
46%
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 Wylie Texas National
Cost of living12192100
Goods & Services12196100
Groceries9796100
Health care11094100
Housing14683100
Transportation9492100
Utilities115104100

An Overview of Cost of Living in Wylie, TX

Understanding the cost of living in Wylie can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Wylie cost of living index is 121, which is 21% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you prioritize affordability when seeking a new place to live, Wylie may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Wylie falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Wylie cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 46% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Wylie goods and services are 20.6% more expensive than the national average, leaving you with less money at the end of the month.

Is Wylie Affordable?

Is Wylie 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 Wylie is 37% higher than the national average, while the average monthly rent prices are 67% higher than average. The affordability of any location can also be influenced by median income levels. Wylie has a median household income of $98,484, which is 78% higher than the national average.

What Factors can Influence the Cost of Living in Wylie?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Wylie, the baseline sales tax rate begins at 6.25%, and income tax rates start at 0%.

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 Wylie, the housing index stands at 46% higher than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Wylie, the groceries index is 3% lower than the national average.

Where is the Data From?

The Wylie 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 Wylie is 31% higher than the Texas average
  • The cost of living in Wylie is 21% higher than the national average
  • Wylie housing is 46% 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 Wylie

See all the best places to live around Wylie

Compare Wylie, 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$113,051$9,421$2,638$3,392
      Renters$66,518$5,543$1,552$1,996
      A good indicator of the general affordability of housing in Wylie, TX, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Wylie, the median monthly income is $113,051 for those who own their own homes. Under the standard rule, that income level would allow for $2,638 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $66,518, per the median income in the area. That would allow for renters to spend up to $1,552 on monthly rental expenses.

      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 Wylie National avg. Difference
      Haircut $23.57$24.262.8%
      Beauty Salon $35.11$45.5622.9%
      Toothpaste $3.51$3.705.1%
      Shampoo $1.22$1.284.7%
      Movie $11.85$12.132.3%
      Bowling $16.96$18.005.8%

      Groceries

      Item Wylie National avg. Difference
      Ground Beef $5.44$5.846.9%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.670.9%
      Potatoes $4.15$4.9316.0%
      Pizza $11.96$12.091.0%
      Beer $10.27$10.411.4%

      Health Care

      Item Wylie National avg. Difference
      Optometrist $96.63$125.6823.1%
      Doctor $131.00$135.783.5%
      Dentist $86.73$113.2923.4%
      Ibuprofen $10.40$10.652.4%
      Lipitor $484.49$468.603.4%

      Housing

      Item Wylie National avg. Difference
      Home Price $253,100.00$184,700.0037.0%
      Avg. Mortgage Payment $1,562.33$2,346.6933.4%
      Apartment Rent $1,585.00$949.0067.0%

      Transportation

      Item Wylie National avg. Difference
      Gasoline $3.47$3.460.3%
      Tire Balancing $66.47$59.9210.9%

      Utilities

      Item Wylie National avg. Difference
      All Electricity $145.64$193.9924.9%
      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.
      St. Paul CDP, TX5948910.7%
      St. Paul, TX1,3778910.7%
      Mobile City, TX2061077.4%
      Garland, TX238,6221098.5%
      Josephine, TX1,4881099.4%
      Wylie, TX51,25112121.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Grand Island, NE51,2508812.5%
      Levittown, NY51,26614646.5%
      Logan, UT51,2661011.4%
      Florissant, MO51,2208712.8%
      Wheaton, MD51,19113635.6%
      Wylie, TX51,25112121.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.