How Much Does it Cost to Live In One of Texas’ Most Expensive Towns?

Those living in or near Highland Park, TX are well aware of the high cost of living in the area. This small town of under 9,000 is nestled right in central Dallas county and boasts the title of most expensive neighborhood in Texas.

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Median income

With each household in Highland Park earning, on average, over $218,000 each year, they see a 295% increase from the national average. Highland Park also contains an income per capita of over $146,000, and an unemployment rate of only 2%.

Living expenses

The average rent in Highland Park sits around $3,039 a month. The average price of a home? A cozy $7.3 million.

Also, the average cost of transportation in Highland Park comes out to around $8,700, nearly a thousand dollars less than the national average.

Child care

Highland Park sees an average annual cost of child care for two children under 8 years old of about $12,100. This, again, is curious to note given that the average cost of child care in Texas is about $11,700, but in the U.S. as a whole? About $16,000 per year.

Lubbock, TX averages

To put this into perspective, the average annual salary in Lubbock, TX is just over $45,000. This comes out to about $22 an hour. Most salaries in Lubbock range from $31,000 to $57,000, in general.

According to realtor.com, the average home price in Lubbock came to about $255,000 with $224,000 being the average sold price.

So, did these numbers surprise you like they did me? I mean, I know that parts of Dallas are pricey, but $7 million for an average home? I suppose it would not be so shocking if I were actually living there. Who knows, maybe I will finally become a famous juggling flautist like I've always wanted...