Cost of living in Temple, TX
Temple is a bit cheaper than most of Texas. Median rent is $1,231 a month, 12% lower than the Texas median of $1,403, and the median home is worth $239,000, 16% lower than the Texas median of $283,800.
Cost of living81 of 100. Higher means more affordable.
Overall grade for Temple: D
- Median rent
- $1,231Texas $1,403
- 2-bedroom fair rent
- $1,138HUD FY2027
- Median home value
- $239,000Texas $283,800
- Monthly cost to buy
- $1,621Loan and property tax
- Property tax
- $3,749Median per year
- Income to rent
- $49,000At 30% of pay
Is Temple expensive?
Prices only tell half the story. The typical household here earns $68,204, so the median home costs 3.5 times a year of income, against 3.6 times across Texas and 4.1 times across the US. That is close to the Texas norm.
Our cost of living grade for Temple is A- (81 of 100), comparing it with US cities of 50,000+ people. A higher grade means more affordable.
| Measure | Here | Texas | US |
|---|---|---|---|
| Median rent12% lower than Texas | $1,231 | $1,403 | $1,413 |
| Median home value16% lower than Texas | $239,000 | $283,800 | $332,700 |
| Home value to income3% lower than Texas | 3.5x | 3.6x | 4.1x |
| Median household income13% lower than Texas | $68,204 | $78,476 | $80,734 |
| Renters paying 30%+ of income on rent1 points lower than Texas | 50% | 52% | 51% |
| Median property tax per year11% lower than Texas | $3,749 | $4,232 | $3,119 |
Rent in Temple
HUD's fair market rents for Killeen-Temple, TX HUD Metro FMR Area run from $921 for a studio to $1,902 for 4 bedrooms. A two-bedroom is $1,138 a month, which takes an income of about $46,000 a year to stay at 30% of pay. HUD figures include utilities and describe a typical, modest unit.
50% of renters in Temple already spend 30% or more of their income on rent, against 52% across Texas.
Income you need to rent
| Unit | Rent | Yearly income at 30% |
|---|---|---|
| Studio | $921 | $37,000 |
| 1 bedroom | $927 | $37,000 |
| 2 bedrooms | $1,138 | $46,000 |
| 3 bedrooms | $1,576 | $63,000 |
| 4 bedrooms | $1,902 | $76,000 |
Buying a home in Temple
Buying the median $239,000 home with 20% down ($47,800) and a 30-year loan at 7.28% costs about $1,308 a month for the loan plus $312 a month in property tax, $1,621 in all. Homeowners insurance, HOA dues and upkeep come on top.
That is $390 a month more than the median rent, so renting is cheaper month to month. Buying pays off mainly if you stay long enough for the home to build equity.
Taxes
Texas has no state income tax, which helps take-home pay. The trade-off is high property tax, set by the county, city, school district and other local bodies.
The median homeowner in Temple pays $3,749 a year in property tax, 11% lower than the Texas median of $4,232 and 20% higher than the US median. Sales tax in most of Texas tops out at 8.25%.
Monthly cost to buy a median home
- Mortgage payment
- $1,308
- Property tax
- $312
- Median rent, for comparison
- $1,231
Based on a $239,000 home in Temple, 20% down and a 30-year loan at 7.28% (Freddie Mac average, week of 2026-10-01). Property tax is the median paid locally, or the county median where the local figure is not published. Insurance and fees are not included.
Temple cost of living compared with nearby cities
Census medians. Cost grade compares each place with US places of its own size.
| Place | Distance | Median rent | Median home | Household income | Cost grade |
|---|---|---|---|---|---|
| Temple | $1,231 | $239,000 | $68,204 | A- | |
| Morgan's Point Resort | 6 mi | $1,819 | $245,100 | $79,450 | D+ |
| Belton | 7 mi | $1,252 | $258,700 | $59,130 | D+ |
| Little River-Academy | 7 mi | $1,463 | $183,300 | $75,563 | B- |
| Troy | 9 mi | $1,324 | $201,500 | $86,311 | B |
| Nolanville | 14 mi | $1,174 | $244,900 | $72,480 | C- |
| Salado | 14 mi | $1,073 | $445,900 | $107,679 | D |
What these numbers leave out
We only show costs we can source for Temple itself: rent, home prices, property tax and incomes from the Census Bureau, fair market rents from HUD, and a mortgage payment at the current Freddie Mac average rate. Groceries, utilities, car insurance and health care are not included, because no public source publishes them city by city in Texas.
Cost of living in Temple: common questions
Is Temple, TX expensive to live in?
Temple is a bit cheaper than most of Texas. Median rent is $1,231 a month, 12% lower than the Texas median of $1,403, and the median home is worth $239,000, 16% lower than the Texas median of $283,800. Prices only tell half the story. The typical household here earns $68,204, so the median home costs 3.5 times a year of income, against 3.6 times across Texas and 4.1 times across the US. That is close to the Texas norm.
How much do you need to earn to live in Temple?
To rent a median home at $1,231 a month and keep rent at 30% of income, you need about $49,000 a year. To buy the median home, the monthly cost is about $1,621, which takes around $65,000 a year by the same rule.
What is the average rent in Temple?
The median rent across all units is $1,231 a month (Census). HUD's fair market rent is $921 for a studio, $927 for 1 bedroom, $1,138 for 2 bedrooms, $1,576 for 3 bedrooms, $1,902 for 4 bedrooms.
How much is property tax in Temple?
The median homeowner in Temple pays $3,749 a year in property tax, 11% lower than the Texas median of $4,232 and 20% higher than the US median. Sales tax in most of Texas tops out at 8.25%.
Sources: US Census Bureau 2020-2024 ACS 5-year, HUD Fair Market Rents FY2027, Freddie Mac PMMS (week of 2026-10-01). Updated 2026-10-04.