average monthly expenses for one person 2020

#Average monthly expenses for one person 2020 full#

Gas prices tend to be low, which will save you an average of $146 per year. With transportation expenses, Texas sits in the middle of the pack - it isn’t the most expensive place to own a car, but it isn’t the cheapest either. Unless you move to a big city like Dallas or Austin, you’ll probably need a car to get around.

#Average monthly expenses for one person 2020 full#

Here’s a full breakdown of where the money went:Īlthough medical care is a little more expensive in Texas, the low utility costs and affordable housing prices more than make up for it. In 2018, the average Texan spent around $6,110 on healthcare over the course of the year, which is slightly higher than the national average of $5,900. According to Business Insider, Texans typically spend $221 per month on restaurant meals in addition to their regular grocery bill. Families with kids have significantly higher food costs and will need to set aside at least $603.16 per month.Ĭities like Austin and Dallas are known for their lively restaurant scene, so you’ll probably want to eat out on the weekends. FoodĪccording to MIT, a single person living in Texas needs to budget around $264.75 per month for groceries. While the average American spends $422.08 on cable, water, electricity, and natural gas, Texans only pay $409.78. But they actually pay less than the national average and have the 19th cheapest utility bills in the country according to a recent study. You’d think that Texans would have sky-high energy costs from running their air conditioning units all summer. But in a bustling city like Austin, you could pay $1,280 per month or more in rent. Waco, for example, has a median rent price of just $862 per month. In smaller towns and cities, it’s possible to find better deals. But that number may vary somewhat depending on where you choose to live. If you’re a renter, you’ll be happy to hear that the average apartment only costs $1,045 per month. However, if you want to move to a highly desirable area like Austin or Frisco, you may have to spend upwards of $400,000 to get into your dream home. The average home only costs $241,100, putting homeownership within reach. Home prices in Texas are well below the national average, so you’ll be able to move to the Lone Star State without blowing your budget. Here’s some more information about how much it costs to live in Texas so you can decide if it’s the right place for you. But Texas is actually a cheap place to live with a cost of living that’s about 6% lower than the national average. With all the state offers, you’d think it would be expensive. If you’re interested in moving there, you’re probably wondering what the cost of living in Texas is like. Texans are also known as some of the friendliest people in the country, so you’ll feel welcome in the Lone Star State. There are cultural attractions galore, including the Alamo in San Antonio and the Space Center in Houston. Texas has half a dozen top-performing sports teams and mouth-watering food like brisket, tacos, and Whataburger. Texans have a lot of pride in their home state, and it’s easy to see why.