Cost of Living in Redwood, TX

With a cost of living index of 79, Redwood, TX is a very affordable place to live. Living here is 21% cheaper than the national average and 9% below the Texas state average of 88. Redwood is a small community of 3,586 residents.

Housing costs are the biggest factor in Redwood's cost of living. The median monthly rent is $1,042 (21% below the US median of $1,319), and the median home value sits at $154,900 (49% below the national median of $304,900). At current prices, the median home costs roughly 1.9x the median household income — well within traditional affordability guidelines.

The median household income in Redwood is $82,411, which is 10% higher than the national median of $75,149. Residents spend roughly 15% 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 Redwood. The area sees an average annual temperature of 69.6°F, with summers averaging 84°F and winters around 54°F. Annual rainfall totals 31.3 inches spread over roughly 78 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Austin-Round Rock-San Marcos, 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.