Cost of Living in Honey Grove, TX

With a cost of living index of 59, Honey Grove, TX is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 29% below the Texas state average of 88. Honey Grove is a small community of 1,886 residents.

Housing costs are the biggest factor in Honey Grove's cost of living. The median monthly rent is $539 (59% below the US median of $1,319), and the median home value sits at $112,100 (63% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Honey Grove is $47,225, which is 37% lower than the national median of $75,149. Residents spend roughly 14% 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.

Climate is another factor for anyone considering a move to Honey Grove. The area sees an average annual temperature of 65°F, with summers averaging 83°F and winters around 47°F. Annual rainfall totals 38.3 inches spread over roughly 90 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.