What’s the Cost of Living in San Antonio, TX?
Because of the booming nature of San Antonio, the cost of living is sadly increasing. Forbes rated the cost of living 2.7% higher then the national average.
Using the “50-30-20” guideline (50 percent income going to expenses, 30 percent to fun, and 20 percent to savings). A survey analysing living expenses – rent, groceries, utilities, transportation and healthcare – found that to live “the dream” in San Antonio you would need to make $46,238 ($23,119 required to pay for living, $15,967 for fun, and $9,248 for savings). Another study found that the actual median salary occupational salary at $43,740.
What’s the Cost of Housing in San Antonio
San Antonio residents spent an average of 32.5% of their household income on their mortgage, rent or other housing related expense. To get a picture, the average 1 bedroom apartment being $829 and 2-bed monthly unit $1,094.
These median rates are expected to increase as the city draws in more young professionals and retirees. For way to reduce costs, look to making your home more energy efficient. This can include installing solar panels, insulating your attic, lowering thermostat while away, etc…
Cost of Food
People living in the city of San Antonio enjoy reasonably priced food and drink. As of July 2016 locals paid an average of $3.07 for a gallon of milk, $1.58 for a loaf of bread, $2.63 dozen eggs, and $4.10 for a pound of chicken breast.
Cost of Transportation
San Antonio households spent an average of 20% of their budget on transportation. Insurance tends to be high in Texas – the average household spent $1,510 per year per household in insurance. If you’re a retiree who doesn’t work everyday you may be eligible for annual discounts.
Cost of Maintaining a Regular Livelihood
Calculating a median household income takes into account many variables. With this in mind, the Economic Policy Institute has stated a family of four needs $61,344 to have a “secure yet modest living standard”. The federal poverty threshold for a family of four is $23,550 and the median household income of San Antonio is $43,961
The federal poverty threshold hasn’t changed since the 1960s. This number is calculated by the cost of an average cart of groceries multiplied by 3. This calculation was established during a time when families spent ⅓ of their budgets on groceries. This is a good place to start, but it fails to account for a range of other circumstances involved with a household. If you were to judge two identical households – one with a similar house, income, family size – it may seem like they would be spending the same monthly expenses, yet these statistics fail to account for other aspects. This can include health issues, hobbies, and others.. This is when it may become complicated.
Sitterle San Antonio: Optimized Luxury
With the cost of living in San Antonio being relatively modest compared to the other major cities throughout Texas, you’ll have the opportunity to choose our optimized and luxurious properties here within Sitterle San Antonio. Feel free to contact us to learn more about our properties and how we can help you reside in a beautiful, Sitterle San Antonio home.