Texas Reality Check Logo

Frequently Asked Questions

Who developed Texas Reality Check?
Texas Reality Check is brought to you by the Labor Market & Career Information Department of the Texas Workforce Commission.
How are apartment rental and house prices determined?
Monthly apartment rental rates are fair market rents as determined by the U.S. Department of Housing and Urban Development (HUD). House prices are determined by a review of the current median sales price for the area. The monthly house payment assumes that the buyer obtains a 30 year mortgage with current interest rates and a 20% down payment.
How are health care costs determined?
Basic and premium insurance rates assume the user is a healthy adult in their 20's. Costs are based on current rates as determined by the Affordable Care Act.
How is the student loan debt calculated?
Student loan debt is based on average yearly loan amounts as published by The Institute for College Access & Success. Loans are calculated using the current average student loan interest rates and are amoritized over 30 years for professional degrees and 20 years for all others.
How are family costs determined?
The cost of raising children is determined by using the "Cost of Raising a Child Calculator" that is provided by the U.S. Department of Agriculture. The total cost includes expenses such as housing, food, transportation, clothing, health care, child care, education and other miscellaneous expenses.