San Antonio’s warm summers and balmy winters allow locals to take in the city’s vibrant culture at any time of the year. The world-famous River Walk boasts both dining and shopping, while the Alamo and the San Antonio Missions allow visitors to take a stroll through history. San Antonio residents are never at a loss for exciting activities and adventures to enjoy.
San Antonio’s booming popularity has caused the city’s cost of living to rise in recent years. According to Forbes, the local cost of living was 2.7% above the national average as of July 2015. Many residents decide to save money on living costs by installing energy-saving improvements in their homes.
Housing is never cheap, regardless of whether you rent or own. In 2014, San Antonio residents spent an average of 32.5% of their household income on mortgage, rent and other housing related expenses. The cost of housing is only expected to rise as the city becomes a more popular destination for young professionals and retirees alike. The median price of a house in San Antonio was $137,800 in July 2015, while a 1-bedroom apartment cost an average of $829 per month and a 2-bedroom unit cost a monthly average of $1094.
Homeowners can save money on housing by slashing their utility bills. Installing energy-saving improvements in your home such as solar panels or attic insulation can help you not only to cut down on your electricity expenditures, but you can also take advantage of local energy rebate programs and federal tax exemptions.
The amount that San Antonio residents spend on food is in line with national costs. Residents enjoy reasonably priced food and drink, whether they are grocery shopping for their family or eating out at a restaurant. As of July 2016, locals can expect to pay an average of $3.07 for a gallon of milk, $1.58 for a loaf of bread, $2.63 for a dozen eggs and just $3.10 for a pound of chicken breasts.
San Antonio households spend almost 20% of their budget on transportation expenses, including vehicle maintenance and upkeep costs. Gas prices in the area are slightly higher than in neighboring cities and can range from anywhere between $1.57 to $2.29 per gallon (July 2016). Insurance prices also tend to be high for Texas residents, averaging $1510 per year. How much you pay for insurance depends on many factors, however, including your age, gender, car model and driving history. If you are a retiree who does not drive to work on a daily basis, speak with your insurance agent to see if you are eligible for any annual discounts.
San Antonio seniors pay slightly more than the national average cost for assisted living services. While the national median cost of a room in an assisted living facility is $43,549 per year, San Antonio residents pay an annual $48,480 for care. Nursing care within the city, on the other hand, is significantly cheaper than skilled care in other U.S. cities. San Antonio seniors pay an annual median of just $57,488 for a semi-private room and $73,821 for a private room in a local nursing facility. Settling down in San Antonio can save nursing home residents more than $20,000 per year on care.
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