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Cost of Living

Cost of Living, El Paso, TX

El Paso residents enjoy a relatively low cost of living compared to other cities in the United States. Combined with its growing size and numerous points of cultural and scenic interest, the El Paso area offers businesses a thriving community coupled with a pleasant and affordable cost of living. In the first quarter 2006, the index for El Paso was at 90.7 percent of the national average of 100 percent. The following graph illustrates how El Paso’s cost of living compares to other cities in the southwest.

Cost of Living Index Comparison

More, economic growth and low interest rates are stimulating demand for housing in El Paso. In 2005 the median price of a home sold was $111,800, an increase of 18 percent over last year’s figure of $94,700. Fifty percent of homes sold through the MLS sold within 30 days of being listed, according to Association Executive Terrie Todd. Despite the recent price increases, El Paso remains one of the country’s most affordable housing markets.

Texas Metropolitan Area Average Home Sales Price

Source: National Realtors Association, Sept. 2006

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