El Paso, TX variant. This is a El Paso, TX-specific version of the Budget Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Budget Calculator.
Budgeting in El Paso means stretching the $53,291 median income ($4,441/month) against a cost-of-living index of 84 and $1,100/month median rent.
50/30/20 in El Paso
On $4,441/month, the rule allots $2,220 needs, $1,332 wants, $888 savings. But El Paso rent alone ($1,100/month) is 50% of the needs bucket.
In high-index metros, housing often blows past 50% - forcing roommates, longer commutes, or higher income.
About El Paso, TX
El Paso residents pay no state or city income tax, as Texas does not levy a personal income tax.
El Paso is one of the most affordable large-city housing markets in the country, with low home prices and rents.
El Paso's economy is shaped by its position as a major border and trade city, along with a substantial military presence.
Worked example: rent share in El Paso
$1,100 rent ÷ $4,441 monthly income = 25% of gross - well above the 30% rent-burden threshold if over 30%.
Quick reference
- Median home value: $215,000
- Median rent: $1,100/mo
- Median household income: $53,291
- Local sales tax: 8.25%
- Effective property tax rate: 2.21%
- Cost of living index: 84 (US avg = 100)
Frequently Asked Questions
How much does it cost to live in El Paso?
Median rent is $1,100/month with a cost index of 84; budget needs around $2,220/month on the median income.
Is rent affordable in El Paso?
Median rent is 25% of the median monthly income - within the 30% affordability guideline.