Cost of Living in Spearman, TX

With a cost of living index of 65, Spearman, TX is one of the most affordable cities in the country. Living here is 35% cheaper than the national average and 22% below the Texas state average of 88. Spearman is a small community of 2,809 residents.

Housing costs are the biggest factor in Spearman's cost of living. The median monthly rent is $694 (47% below the US median of $1,319), and the median home value sits at $135,100 (56% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in Spearman is $66,903, which is 11% 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. 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 Spearman. The area sees an average annual temperature of 56.4°F, with summers averaging 77°F and winters around 36°F. Annual rainfall totals 18.5 inches spread over roughly 0 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.