University Park, TX

Very High · 349

Texas · Population 25,104 · Updated March 2026

$2,940
Median Rent / Month
$250,001
Median Income
$1,766,700
Median Home Value
$4,001
Owner Costs / Month

Affordability

How far your income goes in University Park

14.1%
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

$35,280
Annual Rent
$0
State Income Tax
$28,267
Property Tax (est.)

Cost of Living Overview

University Park has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 349 (where 100 equals the national median), University Park residents can expect to pay median rent of $2,940/month while earning a median household income of $250,001/year.

The median home value in University Park, TX is $1,766,700, with typical monthly owner costs around $4,001 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.1% 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 University Park.

Frequently Asked Questions

Common questions about living costs in University Park

What is the cost of living in University Park, TX?
The cost of living index in University Park, TX is 349 (US average = 100). Median monthly rent is $2,940, median household income is $250,001/year, and the median home value is $1,766,700.
Is University Park, TX affordable?
No, University Park is more expensive than the national average with a cost index of 349. The rent-to-income ratio is 14.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in University Park, TX?
The median gross rent in University Park, TX is $2,940 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $35,280.
What is the median household income in University Park?
The median household income in University Park, 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.