No matter where you live, your cost of living matters. What it costs to live in New York is different than in Boston. Boston is different from San Francisco, and so on. However, according to a recent Forbes article the cost of living in El Paso, Texas is the best around!
Okay, so it isn’t the absolute best. However, the cost of living in El Paso, Texas is still very reasonable. Recently, Forbes released an article ranking 13 cities where you can live comfortably on less than $60,000 in income per year. El Paso topped that list.
Other cities on the list include Albuquerque, New Mexico; Wichita, Kansas; and Detroit, Michigan.
The ranking is based on a few factors. First up is the median income. in El Paso, the median income is $43,322. This is well below the national average of $57,617. However, Forbes compared the “cost of necessities” as well.
According to Forbes, the “cost of necessities” in El Paso, Texas is $25,075 compared to $57,311 nationally. So median incomes may be lower; however, the cost of living in El Paso is far below the national average.
Is It Time to Move To El Paso?
Before you strap on your boots and head to Texas, pump the brakes. El Paso undeniably has a low cost of living. However, the numbers used by Forbes are based on medians and averages.
Using City vs City’s cost of living calculator, we rank El Paso as #231 out of 253 US Cities. So while El Paso ranked very well for cost of living, it wasn’t the best around. That honor fell to McAllen, Texas.
However, what matters more than medians and averages is the true cost of living in your area. City vs City calculates costs at the zip code level to determine what it really takes to live in your city.
Our app examines after-tax income, housing costs, transportation costs, state and local taxes, and more. By examining costs at the zip code level, we curate accurate, local data on what it takes to live in your chosen city.
Whether you’re thinking of moving into El Paso (or moving out), City vs City can show you the true cost of living. Download City vs City and start comparing today. You’ll see which city can offer you the most bang for your buck!