Cost of Living in Midway, TX

With a cost of living index of 76, Midway, TX is a very affordable place to live. Living here is 24% cheaper than the national average and 11% below the Texas state average of 88. Midway is a small community of 234 residents.

Housing costs are the biggest factor in Midway's cost of living. The median monthly rent is $1,150 (13% below the US median of $1,319), and the median home value sits at $99,100 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Midway is $57,500, which is 23% lower than the national median of $75,149. Residents spend roughly 24% 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 Midway. The area sees an average annual temperature of 68.7°F, with summers averaging 84°F and winters around 53°F. Annual rainfall totals 43.7 inches spread over roughly 104 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.