Cost of Living in Cranfills Gap, TX

With a cost of living index of 81, Cranfills Gap, TX is a very affordable place to live. Living here is 19% cheaper than the national average and 6% below the Texas state average of 88. Cranfills Gap is a small community of 303 residents.

The median household income in Cranfills Gap is $60,417, which is 20% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Waco, TX (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.