Affordable places to live in Texas with high salaries, low cost of living

Four of the most affordable places to live in the southern United States were in Texas, according to a recent study.

AUSTIN (KXAN) — Four of the 10 most affordable places to live in the southern United States were in Texas, according to a recent study.

To find the most affordable cities, The Ascent said it compared median household incomes to cost-of-living data, which was used to calculate an estimated income-to-expense ratio, with a higher ratio indicating more affordability.

Cedar Park

According to the study, Cedar Park was considered the most affordable place to live in the south, and in the United States as a whole, ranking at No. 1.

“It has excellent wages, with a median income 22.2% higher than the U.S. median income. While it isn't the cheapest city in the country, the cost of living beats the national average by 7.7%,” the study said.

According to The Ascent, Cedar Park’s largest industries were:

• Professional, scientific, and technical services
• Retail trade
• Healthcare and social assistance

San Marcos

The study data showed that San Marcos ranked in the No. 2 spot, with an estimated income-to-expense ratio of 1.338 compared to Cedar Park’s 1.401.

“The median income is 22.2% higher than the national median, and groceries are cheap at 14.2% less than the national average,” The Ascent said.

The study said the industries that employed the most people in San Marcos were:

• Accommodation and food services
• Retail trade
• Educational services

Midland

The Ascent said Midland had extremely affordable housing and above-average wages, with an estimated income-to-expense ratio of 1.327, placing it at No. 3.

“Housing costs are 22.9% less than the national average, and if you want to buy a home, prices are lower than average house prices in much of the country,” the study said. “Overall, residents in Midland enjoy a cost of living 9.4% better than average, and groceries are 12.6% cheaper than average.”

Top three industries in Midland, according to the study:

• Mining, quarrying, oil, and gas extraction
• Retail trade
• Healthcare and social assistance

Austin

According to the study, Austin took the No. 8 spot on the list, with a median income 22.2% higher than the national median. The Ascent also said Austin was the largest city on the list, with nearly 1 million residents.

“The cost of living in Austin is only 1.0% more than the national average, but housing is a big expense here, coming in at 15.5% more than average. On the bright side, it has inexpensive grocery costs (11.6% less than the national average) and transportation (9.1% less),” the study said.

The Ascent said Austin’s largest industries were:

• Professional, scientific, and technical services
• Educational services
• Healthcare and social assistance