Cost of Living in Panhandle, TX

With a cost of living index of 74, Panhandle, TX is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 13% below the Texas state average of 88. Panhandle is a small community of 2,613 residents.

Housing costs are the biggest factor in Panhandle's cost of living. The median monthly rent is $981 (26% below the US median of $1,319), and the median home value sits at $151,800 (50% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Panhandle is $86,354, which is 15% higher 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.

Climate is another factor for anyone considering a move to Panhandle. The area sees an average annual temperature of 58.7°F, with summers averaging 78°F and winters around 40°F. Annual rainfall totals 19.7 inches spread over roughly 69 days.

Everyday prices in the Amarillo, 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.