El Paso, TX vs Laredo, TX

El Paso, TX and Laredo, TX have a very similar cost of living, with only a 1.6% difference in their overall index. El Paso scores 77 while Laredo scores 76 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 El Paso is $1,041/month compared to $1,001/month in Laredo — a 4% difference. Interestingly, home values tell a different story: while Laredo has cheaper rent, El Paso actually has lower median home values ($171,700 vs $182,400).

Median household income in El Paso is $58,734 compared to $63,264 in Laredo (-7.2%). Laredo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of El Paso spend roughly 21.3% of their income on rent, more than the 19% in Laredo.