Cost of Living in Iraan, TX

With a cost of living index of 70, Iraan, TX is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 17% below the Texas state average of 88. Iraan is a small community of 1,415 residents.

Housing costs are the biggest factor in Iraan's cost of living. The median monthly rent is $965 (27% below the US median of $1,319), and the median home value sits at $94,100 (69% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Iraan is $42,167, which is 44% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Iraan. The area sees an average annual temperature of 66.6°F, with summers averaging 82°F and winters around 50°F. Annual rainfall totals 12.8 inches spread over roughly 47 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.