Cost of Living in Ferris, TX

With a cost of living index of 89, Ferris, TX is a very affordable place to live. Living here is 11% cheaper than the national average and in line with the Texas state average. Ferris is a small community of 2,932 residents.

Housing costs are the biggest factor in Ferris's cost of living. The median monthly rent is $1,145 (13% below the US median of $1,319), and the median home value sits at $219,600 (28% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ferris is $71,583, which is 5% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Ferris. The area sees an average annual temperature of 66.9°F, with summers averaging 84°F and winters around 49°F. Annual rainfall totals 37.7 inches spread over roughly 85 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Dallas-Fort Worth-Arlington, TX (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher 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.