Cost of Living in The Homesteads, TX

With a cost of living index of 79, The Homesteads, 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. The Homesteads is a small community of 3,113 residents.

Housing costs are the biggest factor in The Homesteads's cost of living. The median monthly rent is $1,107 (16% below the US median of $1,319), and the median home value sits at $112,100 (63% 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 The Homesteads is $64,037, which is 15% lower than the national median of $75,149. Residents spend roughly 21% 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 The Homesteads. The area sees an average annual temperature of 66.8°F, with summers averaging 84°F and winters around 49°F. Annual rainfall totals 36.2 inches spread over roughly 80 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Dallas-Fort Worth-Arlington, TX (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher 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.