Texas is known for having reasonable cost of living. Even when you live closer to a metro city, like Houston, cost of living still remains low compared to the national average. Kingwood residents, like all Texans, love how inexpensive it can be to live in this beautiful community.
Kingwood is a 15,000 acre community developed by the Friendswood Development Company. The land was first purchased in the late 1960s and began development in the 1970s. Since then, it has grown from a few thousand residents in 1971 to over 65,000 residents by 2006.
The community has many home options and only one village, Royal Brook, that is currently still in development. Single family homes in Kingwood can range from the low $300s to the high millions. There are also inexpensive apartments and townhomes for residents to purchase or rent. The average home price in Kingwood is $403,363 for an average of 3,044 square feet.
Continue reading to learn more about the cost of living in Kingwood.
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Kingwood Neighborhood: Average Cost of Living
Kingwood is known as the “livable forest” due to the tree-lined streets and the emphasis on beautiful, natural scenery. This is only one of the reasons why so many people want to live here – the low cost of living is another reason. There are three factors to take into consideration when calculating cost of living in Kingwood: property taxes, HOA fees and lifestyle.
Property Taxes in Kingwood
Property taxes in Texas are calculated based on your home’s location and value. There are four different tax bills that are accounted for in your annual property taxes. Here are the four tax bills:
Independent School District (ISD) taxes
County taxes (Harrs or Montgomery County)
Water Control and Improvement District (WCID) taxes
Municipality Utility District (MUD) taxes, for sewer, water and drainage
Kingwood is managed by a Homeowners Association called Kingwood Association Management. HOA fees can be determined by nearby amenities and home value. In Kingwood, each village has its own playground and nearby community pool. Kingwood residents also have access to all parks, preserves, trails and community centers in the neighborhood.
Anyone living in Kingwood, even if not in a single family home, has to pay the annual HOA fees. Kingwood HOA fees may be between $200 and $3,000 a year. Be sure to fully read any HOA contract to find out how much you will be paying to your HOA.
HOA Fees and Construction
Although most of Kingwood is completely developed, the village of Royal Brook is currently under construction. In some communities, home builders may pay small HOA fees for each lot that they are building on. Because of this, when the builder sells the home they can list the HOA fee as considerably lower than it may actually be once the home is fully constructed. Make sure to thoroughly read your HOA contract before you sign on the dotted line.
Cost of Living in Kingwood, TX
The cost of living in Texas is lower than the American average. If the American average is 100 overall, then the cost of living in Texas is 93.9 according to Best Places. Kingwood is higher than the state's average, but this is mostly due to its proximity to Houston and amenities. Because Kingwood is not large enough to assess cost of living, the nearby city of Humble can be assessed instead.
Before you jump for joy at the low housing costs listed in this assessment, it is important to note a few things. The median home price in Kingwood is significantly higher than the median home price in Humble. Therefore we can assume that housing costs are actually nearer to between 90 and 100.
The second aspect to consider is transportation costs. Many Kingwood, and Humble, residents commute to Houston for work and weekly errands. This increases transportation costs. Residents can reduce transportation costs by utilizing public transport, carpooling or ridesharing.
Many Kingwood residents feel that the higher cost of living, compared to the state of Texas, is worth it. The meticulously kept trails and parks, towering pine trees, beautiful homes and friendly neighborhoods are what make Kingwood so great. Kingwood is an incredible place to call home and many could not imagine living anywhere else.
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