Cost of Living in Tool, TX

With a cost of living index of 83, Tool, TX is a very affordable place to live. Living here is 17% cheaper than the national average and 4% below the Texas state average of 88. Tool is a small community of 2,399 residents.

Housing costs are the biggest factor in Tool's cost of living. The median monthly rent is $1,120 (15% below the US median of $1,319), and the median home value sits at $163,700 (46% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Tool is $71,964, which is 4% lower than the national median of $75,149. Residents spend roughly 19% 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 Tool. The area sees an average annual temperature of 67°F, with summers averaging 84°F and winters around 50°F. Annual rainfall totals 39.3 inches spread over roughly 85 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.