Southlake, TX

Very High · 272

Texas · Population 31,044 · Updated March 2026

$3,501
Median Rent / Month
$250,001
Median Income
$957,500
Median Home Value
$3,803
Owner Costs / Month

Affordability

How far your income goes in Southlake

16.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$42,012
Annual Rent
$0
State Income Tax
$15,320
Property Tax (est.)

Cost of Living Overview

Southlake has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 272 (where 100 equals the national median), Southlake residents can expect to pay median rent of $3,501/month while earning a median household income of $250,001/year.

The median home value in Southlake, TX is $957,500, with typical monthly owner costs around $3,803 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Southlake.

Frequently Asked Questions

Common questions about living costs in Southlake

What is the cost of living in Southlake, TX?
The cost of living index in Southlake, TX is 272 (US average = 100). Median monthly rent is $3,501, median household income is $250,001/year, and the median home value is $957,500.
Is Southlake, TX affordable?
No, Southlake is more expensive than the national average with a cost index of 272. The rent-to-income ratio is 16.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Southlake, TX?
The median gross rent in Southlake, TX is $3,501 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $42,012.
What is the median household income in Southlake?
The median household income in Southlake, TX is $250,001 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.