Cost of Living in Gorman, TX
Housing
The housing market plays a significant role in determining the cost of living in Gorman, TX.
- Housing Index: 98.2 / 100
- Median Home Price is: $150,000
- Average Rent (2 BR Apartment): $1563 per month
- Average Rent (2 BR House): $1699 per month
Considering a move to Gorman, TX? The housing index is currently at a remarkably low 98.2, which indicates a potentially favorable market for buyers, especially with a median home price of only 150000. However, it’s important to note that both the average rent for a 2BR apartment and a 2BR house stand at 1563 and 1699, respectively. This suggests a market where home ownership could be more beneficial in long-term investments compared to renting. Always remember to factor in local amenities and job market trends, which can influence your overall lifestyle and investment potential.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Gorman, TX.
- Electricity Price: $14.47 USD (median by state)
- Natural Gas Price: $26.29 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $235 per month
Living in Gorman, TX could entail higher utility costs. Electricity costs sit at $14.47, while natural gas is priced at $26.29 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $235 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Gorman is a financially viable option for your relocation.