Timberwood Park, TX

Very High · 150

Texas · Population 34,980 · Updated March 2026

$2,012
Median Rent / Month
$147,471
Median Income
$469,900
Median Home Value
$2,332
Owner Costs / Month

Affordability

How far your income goes in Timberwood Park

16.4%
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

$24,144
Annual Rent
$0
State Income Tax
$7,518
Property Tax (est.)

Cost of Living Overview

Timberwood Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 150 (where 100 equals the national median), Timberwood Park residents can expect to pay median rent of $2,012/month while earning a median household income of $147,471/year.

The median home value in Timberwood Park, TX is $469,900, with typical monthly owner costs around $2,332 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.4% 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 Timberwood Park.

Frequently Asked Questions

Common questions about living costs in Timberwood Park

What is the cost of living in Timberwood Park, TX?
The cost of living index in Timberwood Park, TX is 150 (US average = 100). Median monthly rent is $2,012, median household income is $147,471/year, and the median home value is $469,900.
Is Timberwood Park, TX affordable?
No, Timberwood Park is more expensive than the national average with a cost index of 150. The rent-to-income ratio is 16.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Timberwood Park, TX?
The median gross rent in Timberwood Park, TX is $2,012 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,144.
What is the median household income in Timberwood Park?
The median household income in Timberwood Park, TX is $147,471 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.