Bonham, TX vs Redwood, TX

Bonham, TX and Redwood, TX have a very similar cost of living, with only a 0.9% difference in their overall index. Bonham scores 79 while Redwood scores 79 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Bonham is $1,029/month compared to $1,042/month in Redwood — a 1% difference. Interestingly, home values tell a different story: while Bonham has cheaper rent, Redwood actually has lower median home values ($154,900 vs $183,600).

Median household income in Bonham is $53,232 compared to $82,411 in Redwood (-35.4%). Redwood offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Bonham spend roughly 23.2% of their income on rent, more than the 15.2% in Redwood.