Houston Texas Recommended Spending Percentages refer to the suggested allocation of income or budget towards various categories for individuals living in Houston, Texas. These spending percentages can serve as a guidance to help Houston residents effectively manage their finances and achieve financial stability. It is important to note that these recommended percentages may vary depending on personal circumstances, such as income, goals, and lifestyle. 1. Houston Texas Housing Spending Percentage: The housing spending percentage is an essential part of the budget. It refers to the percentage of income that should be allocated towards housing expenses, including rent or mortgage payments, property taxes, home insurance, and utilities. The recommended spending percentage for housing in Houston typically ranges from 25% to 35% of the monthly income. 2. Houston Texas Transportation Spending Percentage: Transportation spending percentage represents the portion of income designated for commuting, vehicle expenses, and public transportation costs. It includes car payments, fuel, repairs, insurance, and public transportation fares. The recommended spending percentage for transportation in Houston usually falls within 10% to 15% of the monthly income. 3. Houston Texas Food and Groceries Spending Percentage: The food and groceries spending percentage outlines the amount of income that should be allocated towards purchasing food items, groceries, and dining out. This category includes groceries, dining out expenses, and occasional treats. The recommended spending percentage for food and groceries in Houston typically ranges from 10% to 15% of the monthly income. 4. Houston Texas Savings and Investments Percentage: The savings and investments percentage indicates the portion of income that should be allocated towards saving for future goals and making investments. This category encompasses savings accounts, retirement contributions, investment accounts, and emergency funds. The recommended spending percentage for savings and investments in Houston usually falls within 20% to 25% of the monthly income. 5. Houston Texas Personal and Discretionary Spending Percentage: The personal and discretionary spending percentage refers to the amount of income designated for personal needs, hobbies, entertainment, and discretionary expenses. It includes expenses such as clothing, personal care, entertainment, vacations, and non-essential purchases. The recommended spending percentage for personal and discretionary spending in Houston typically ranges from 10% to 20% of the monthly income. It is crucial to customize these recommended spending percentages based on individual financial goals, priorities, and financial situations. Flexibility is key, and individuals may need to recalibrate their percentages periodically to accommodate changing circumstances and financial goals.
Houston Texas Recommended Spending Percentages
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The overall cost of living in Houston is 11% lower than in Dallas: Transportation costs: 1% lower. Food costs: 12% lower.
It's also possible to live comfortably in Houston if you only spend 30% of your take-home pay on rent. If you rent a one-bedroom apartment in Houston for $1,026, you need a salary of $41,040 to live comfortably. For a two-bedroom apartment that costs $1,221, you'll need a salary of at least $48,840.
Summary about cost of living in Houston, TX, United States: Family of four estimated monthly costs are 3,260$ without rent. A single person estimated monthly costs are 920$ without rent. Houston is 33.14% less expensive than New York (without rent).
Typical Expenses 1 ADULT0 Children1 ChildRequired annual income after taxes$25,528$49,705Annual taxes$4,139$8,058Required annual income before taxes$29,667$57,7637 more rows
The median income in Houston is $53,600. It's also possible to live comfortably in Houston if you only spend 30% of your take-home pay on rent. If you rent a one-bedroom apartment in Houston for $1,026, you need a salary of $41,040 to live comfortably.
The cost of living in Houston is below the U.S. average Compared to the nation's 20 most populous metro areas, Houston has the second lowest overall cost of living, with costs 4.2% below the average for all 277 urban areas in the survey by the Council for Community and Economic Research (C2ER).
While ZipRecruiter is seeing salaries as high as $125,244 and as low as $18,447, the majority of salaries within the Well Good jobs category currently range between $33,495 (25th percentile) to $62,622 (75th percentile) with top earners (90th percentile) making $93,205 annually in Houston.
Houston has the second lowest living costs among the most populous U.S. metro areas, according to the C2ER Cost of Living Index Q1 '22. Houston's living costs are 8.6 percent below the nationwide average and 36.0 percent below the average of the nation's most populous metropolitan areas.
Houston has the second lowest living costs among the most populous U.S. metro areas, according to the C2ER Cost of Living Index Q1 '22. Houston's living costs are 8.6 percent below the nationwide average and 36.0 percent below the average of the nation's most populous metropolitan areas.
Houston ranks No. 9 on the list of cities with the most take-home pay on a $100,000 salary, despite a relatively high housing cost. As with most cities in the top 10, Houston benefits from the lack of state income tax.
