San Antonio is known for its low cost of living and business-friendly tax policies. It's not only more affordable than the national average but also lower than other major Texas cities, like Austin, Dallas, and Houston. In fact, the San Antonio-New Braunfels metro area is the 42nd most affordable in the United States.
So if you're planning a relocation to the Alamo City, you'll be pleased to find plenty of affordable housing options. If you need more help preparing or creating a monthly budget to save money, here is an in-depth look at the cost of living in San Antonio.
San Antonio Cost of Living Index
A great way to better understand the cost of living in San Antonio is to reference the cost of living index. It compares the affordability of a particular area to the rest of the country, which is represented by 100.
The COLI for the San Antonio-New Braunfels area is 91.2, which means the cost of living in San Antonio is about 8.8% less expensive than the rest of the country. Out of the four largest metro areas in the state, San Antonio has the lowest cost of living in Texas.
You may also want to reference the consumer price index to understand the cost of living in San Antonio. It indicates that the average total annual expenditures of a consumer in the southern region of the United States is $67,020, including $8,649 on food, $21,912 on housing, $12,093 on transportation, and $5,536 on health care.
The Economic Policy Institute has a Family Budget Calculator that shows how much the average family of four would need to earn to afford the cost of living in San Antonio. It indicates that the typical family with two adults and two kids needs to earn $7,671 per month or $92,055 per year to afford the cost of living in San Antonio. That breaks down to $1,282 per month on housing, $869 on food, $1,192 on healthcare, and $1,141 on childcare.
Cost of Household Items, Utilities, Gas, and Groceries in San Antonio
While analyzing data and statistics can be great for getting a broad overview of the cost of living in San Antonio, it also helps to look more closely at the cost of everyday goods. Here is a breakdown of your typical San Antonio living expenses based on the cost of living index.
- 1lb ribeye steak: $13.37
- 1/2 gallon of whole milk: $4.58
- 1 dozen Grade A eggs: $3.74
- 5 pound bag of potatoes: $4.86
- 1 loaf of wheat bread: $3.81
- 6 pack of Heineken: $10.47
- 1st run movie ticket: $11.70
- 1/4 pounder McDonald's burger: $4.77
- Average cell phone bill: $207.57
- Average cost of gasoline: $3.065
Transportation is another important factor to consider when evaluating San Antonio, Texas's cost of living. Public transportation is provided by the VIA Metropolitan Transit, which operates several bus lines throughout the city for San Antonio residents. They offer different transportation cost packages, including a 7-day pass ($12.00), a 31-day pass ($38.00), and an annual pass ($365.00).
For those who plan on owning a vehicle, the average car insurance premium is $152, with the highest rates being around $246 and the lowest at about $92. So, take that into consideration when analyzing the cost of living in San Antonio.
It's also helpful to understand the average cost of utilities in San Antonio. According to Doxo, the average family in San Antonio spends $2,161 per month on household bills, including $267 on utilities. The average water bill in San Antonio, Texas, is $60.88.
San Antonio Real Estate Market
San Antonio's housing costs are also relatively affordable. It offers everything from modest starter homes to palatial estates. In San Antonio, 52% of homes are owner-occupied, and 48% are occupied by renters.
Redfin reveals that the median home price of San Antonio homes is $264,000. That means the median cost of housing in San Antonio is 38% lower than the median home price in the US. The San Antonio housing market is fairly competitive. The average home sells for 3% below the list price and goes pending in about 50 days, although hot homes tend to go pending in around 21 days.
The price-to-rent ratio for San Antonio real estate is 17, which indicates that renting is slightly better than buying, but only by a slim margin. Anything under 15 indicates that buying is better, whereas anything over 21 means renting is significantly better. Therefore, the cost of living in San Antonio is more conducive to buying a home.
San Antonio Rental Market - Average Rent in San Antonio
The cost of living in San Antonio is also affordable for renters as well. According to Rentcafe, the average apartment rent in San Antonio is $1,285. That means the average San Antonio rent is 26% less expensive than the average rent in the rest of the country.
Most affordable San Antonio neighborhoods for renters:
- Woodlawn Hills: $898 per month
- University Park: $898 per month
- Mission San Jose: $899 per month
- City South: $948 per month
- Gillette: $950 per month
According to the SA Current, rent prices in San Antonio increased by 26% in the first nine months of 2024. However, even with the sudden spike, it still ranks as the fifth most affordable metro area in the US for rent prices. The Out of Reach Report shows that to afford the average two-bedroom home, a person would need to earn between $20 and $42 per hour, depending on the neighborhood and the overall cost of living in San Antonio.
Average Salary & Household Income in San Antonio
While it's important to examine housing prices and common living expenses, it also helps to consider the average income and buying power of a typical resident to fully understand the cost of living in San Antonio, Texas.
According to census data, the average income in San Antonio is $59,593, which is about 20% lower than in the rest of Texas. However, the average income in the San Antonio-New Braunfels metro area is $70,910, which is only 3% lower than the rest of Texas. Although the affordable cost of living in San Antonio means you may have more purchasing power than other Texas cities.
The average hourly wage in San Antonio across all professions is $27.74 per hour. Payscale shows that the average salary in San Antonio is $72,000 per year. However, it can change based on your career and experience level.
Here is a look at the average pay in San Antonio for a few popular professions:
- Project Manager: $79,584 per year
- Software Engineer: $87,614 per year
- Operations Manager: $66,743 per year
- Human Resources Manager: $68,662 per year
- Office Manager: $50,496 per year
BLS data shows that the highest-paid professions in San Antonio are radiologists, chief executives, physicians, and other high-level healthcare professionals. However, the professions that have seen the highest average wage growth compared to the overall cost of living in San Antonio include fine artists, nurse anesthetics, and cooks.
The unemployment rate for the San Antonio-New Braunfels metro area is 3.8%. Since August 2023, 27,800 jobs have been created in the MSA, which indicates an annual job growth rate of 2.4%. The main industries seeing the greatest increase in jobs include government, education, construction, trade, transportation and utilities, and manufacturing. However, industries that have seen job losses month after month include the information industries, financial activities, professional and business services, and leisure and hospitality.
Income, Sales, and Property Taxes in San Antonio
Along with income, you should also consider taxes when assessing the cost of living in San Antonio. Texas is known for its low taxes, and San Antonio, in particular, has very reasonable tax policies. Here's a breakdown of the income, property, and sales tax in San Antonio.
Income Tax
Texas is one of nine states that does not have a state tax on individual income, including social security and retirement income, which is great for seniors. As a result, sales and property taxes tend to be higher than those in states that do tax income. However, the overall tax burden is typically lower than the percentage you would pay if there was an income tax, which contributes to the low cost of living in San Antonio.
Sales Tax
The total San Antonio sales tax rate is 8.250%, including state and city taxes and specific initiatives. The San Antonio sales tax is distributed like this:
- 6.25% State of Texas
- 1% City of San Antonio
- 0.5% San Antonio Metropolitan Transit Authority
- 0.250% San Antonio Advanced Transportation District (ATD)
- 0.125% dedicated to the City of San Antonio Ready to Work Program
- 0.125% dedicated to the City of San Antonio Pre-K 4 SA initiative
Property Tax
Texas has an "ad valorum" property tax system, which means tax rates are based on your home value. Every year, the Bexar County Appraisal District assesses your home's value as the basis for taxation. The assessment ratio is 100%, which means Bexar County property taxes are based on the full market value of your home.
Tax rates are expressed per $100 of your home's value, and rates can vary depending on the local taxing authority, such as the city, county, school district, special district, etc.
The city of San Antonio's property tax rate includes two components: maintenance and operations and debt service.
For FY 2024, the tax rate per $100 of taxable values was:
- M&O: 33.009 cents
- Debt Service: 21.150 cents
- Total tax rate: 54.159 cents
However, it can change from year to year to keep up with the overall cost of living in San Antonio. San Antonio property tax rates can vary depending on where you live and what districts you're in, but in recent years, they tend to be between 2.1% and 2.5%. So, if you own a $250,000 home, you can expect your property tax bill to be around $6250.
San Antonio vs Austin Cost of Living
It may also help to see how the cost of living in San Antonio compares to other major cities in Texas. How affordable is the cost of living in Austin vs San Antonio.
The COLI for the Austin metro area is 99.1, which means it's only 0.9% less expensive than the national average. That makes the overall cost of living in San Antonio 7.9% lower than in Austin. Housing prices are also significantly higher in Austin. Redfin indicates that the median sales price of homes in Austin is $554,000, which is 109% higher than the median price in San Antonio.
The Economic Policy Institute indicates that the typical four-person family needs to earn $107,633 per year to afford to live in Auston, which is 17% higher than the cost of living in San Antonio.
Here is how the cost of living in San Antonio compares to Austin, according to Numbeo:
- Rent prices are 44% higher in Austin than in San Antonio
- Restaurant prices are 15.3% higher in Austin than in San Antonio
- Grocery prices are 4.5% higher in Austin than in San Antonio
You would need to earn around $6,801 monthly in Austin to afford the same quality of life that $5900 would get in San Antonio. However, local purchasing power is also 14.9% higher in Austin than in San Antonio. So, all in all, the cost of living in San Antonio is quite reasonable, even compared to other cities in Texas.
So now that you know all about the cost of living in San Antonio, you’re ready to plan your relocation. When it’s time, you can trust the award-winning San Antonio movers at Chapas Moving Service to make your next move easy and affordable. Call us today for a free quote.
