Cost of Living in Muleshoe, TX

With a cost of living index of 64, Muleshoe, TX is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 24% below the Texas state average of 88. Muleshoe is a smaller community of 5,328 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Muleshoe's cost of living. The median monthly rent is $745 (44% below the US median of $1,319), and the median home value sits at $100,100 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Muleshoe is $71,534, which is 5% lower than the national median of $75,149. Residents spend roughly 12% 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 Muleshoe. The area sees an average annual temperature of 57.8°F, with summers averaging 76°F and winters around 40°F. Annual rainfall totals 17.9 inches spread over roughly 70 days.

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.