Lakeway, TX vs Little Elm, TX

The cost of living difference between Lakeway, TX and Little Elm, TX is dramatic. Little Elm is 48.3% cheaper than Lakeway, a gap that translates to thousands of dollars per year in household expenses. Lakeway has a cost index of 186 while Little Elm sits at 125, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Lakeway is $3,123/month compared to $1,900/month in Little Elm — a 64% difference. Home values follow the same pattern: Little Elm is more affordable at $390,300 median vs $695,400.

Median household income in Lakeway is $164,978 compared to $116,036 in Little Elm (+42.2%). The higher salaries in Lakeway partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Lakeway spend roughly 22.7% of their income on rent, more than the 19.6% in Little Elm.

Climate-wise, Lakeway is notably warmer with an average of 70°F compared to 64.5°F in Little Elm. Lakeway receives more rainfall at 36.3" per year compared to 35.6" in Little Elm.