Cost of Living in Midland, TX

With a cost of living index of 101, Midland, TX is right around the national average in cost. Living here is 1% more expensive than the national average and 13% above the Texas state average of 88. As a major city with a population of 133,998, Midland offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Midland's cost of living. The median monthly rent is $1,407 (7% above the US median of $1,319), and the median home value sits at $298,600 (2% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Midland is $91,169, which is 21% higher 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 Midland. The area sees an average annual temperature of 65.8°F, with summers averaging 83°F and winters around 47°F. Annual rainfall totals 13.5 inches spread over roughly 49 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Midland, 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.