Are you wondering about the Cost of Living in Lubbock? Lubbock is a city in Texas that is home to the world’s most extensive contiguous cotton-growing area. Many tourists underestimate Lubbock’s size. However, with about 293,974 permanent residents, it is the third biggest city in the Big 12 Conference.
Lubbock is also the 11th least expensive city in Texas, with a cost of living index 10% lower than the US average. Its living expenses are also significantly lower than the Texas average. The cost of living index is $69.40, which is $30.60 less than New York. The monthly expenditure for a four-person household is about $2,776.51, while monthly costs for a single person usually fall at $796.58, excluding rent.
Cost of Living in Lubbock
Cost of Housing
The incredible thing is that properties here are less expensive than in other Texas towns, and the purchasing procedure is relatively simple. Furthermore, as compared to other states, constructing your own home is more accessible. One reason for this is that Texas is significantly faster from receiving a building permit to complete your house.
The land is plentiful in Lubbock, and residences are also less expensive. The city’s current average property price is $205,000, which is significantly less than comparable cities.
Healthcare Cost
The only cost-of-living criteria in which Lubbock is higher than the US average is healthcare. It isn’t significantly higher than the national average, but it is. This increased cost of healthcare is the same around the state as Texans spend slightly over $6,000 on health care in a year, compared to $5,900 US average. It’s not a massive difference from the national average, but it’s noteworthy.
Lubbock’s average yearly healthcare expenditures place it in the center among Texas cities, making it somewhat more costly than the national average.
Job Market
With a median yearly salary of $50,000 in Lubbock, you and your family will be able to live comfortably. The city is also recognized for its healthcare industry and educational opportunities. Lubbock’s major employer is Texas Tech University. In addition to the University and its Innovation Hub at Research Park, numerous prestigious private universities exist.
As the financial industry develops, you’ll find many possibilities working in commercial and investment banking. Other businesses with job potential include oil drilling, renewable wind energy, contact centers and customer service, technology, and much more.
Food
A meal in an affordable restaurant will cost you $14 in Lubbock. If you are two, dining on a 3-course meal at a mid-range restaurant, you can expect to pay $40 for the experience. Local beers go for $4 at half a liter, while imported beers are $4.50 for $0.33 liters.
If you go grocery shopping, you’ll find milk somewhere around $0.83 for a liter, a dozen eggs at $1.81, and a kilo of beef at $66.69.
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