McKinney, TX Cost Of Living
Cost Of Living In McKinney, TX Summary
Cost of living in McKinney research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means McKinney is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Texas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in McKinney is 112, with 100 being the average.
The cost of living index in McKinney is 1.1x higher than the national average.
McKinney ranks as the #370 cheapest in Texas out of 405.
McKinney ranks as the #4,296 cheapest out of 6,412 in the US.
The median home value in McKinney is $349,600.
The median income in McKinney is $106,437.
Table Of Contents
McKinney's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in McKinney, TX?
According to the most recent data on the cost of living, McKinney has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to Texas, McKinney has a cost of living index that's 1.2x higher than Texas's index of 92.
The standard of living in McKinney ranks as #370 most affordable out of the 405 places we measured in Texas. By definition, that implies McKinney ranks as the #35 most expensive place in the Lone Star State.
For more reading on life in McKinney, check out:
- Living In McKinney
- McKinney Crime Report
- Search Homes For Sale In Mckinney, TX
In Texas
In America
McKinney Cost Of Living Vs. Texas
Six factors go into calculating the cost of living index in McKinney. Here is how it fairs on each of the criteria:
The Services index in McKinney is 113.
The Groceries index in McKinney is 96.
The Health index in McKinney is 75.
The Housing index in McKinney is 124.
The Transportation index in McKinney is 99.
The Utilities index in McKinney is 109.
| Living Expense | McKinney | Texas | National Average | |
|---|---|---|---|---|
| Overall | 112 | 92 | 100 | |
| Services | 113 | 96 | 100 | |
| Groceries | 96 | 93 | 100 | |
| Health | 75 | 93 | 100 | |
| Housing | 124 | 84 | 100 | |
| Transportation | 99 | 92 | 100 | |
| Utilities | 109 | 104 | 100 | |
McKinney, TX Housing Cost Breakdown
Housing swings affordability the most between places in Texas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in McKinney is $349,600.
The Median Rent in McKinney is $1,535.
The Median Income in McKinney is $106,437.
The Home Value To Income in McKinney is 3.3x.
The Rent To Monthly Income in McKinney is 0.17x.
| Statistic | McKinney | Texas | United States |
|---|---|---|---|
| Median Home Value | $349,600 | $202,600 | $244,900 |
| Median Rent | $1,535 | $1,146 | $1,163 |
| Median Income | $106,437 | $67,321 | $69,021 |
| Home Value To Income | 3.3x | 3.0x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
McKinney, TX Costs By Category
Detailed McKinney Services Costs Vs. Texas
Detailed McKinney Groceries Costs Vs. Texas
Detailed McKinney Health Costs Vs. Texas
Detailed McKinney Transportation Costs Vs. Texas
Detailed McKinney Utilities Costs Vs. Texas
Mckinney SnackAbility
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Cost Of Living In Cities Around McKinney
The cost of living varies in the cities and towns around McKinney. Here's a quick look at the cost of living in the most populous nearby places:
Plano, TX has a cost of living index of 114, 1.0x McKinney.
Frisco, TX has a cost of living index of 120, 1.1x McKinney.
Carrollton, TX has a cost of living index of 105, 0.9x McKinney.
| City | Population | Cost Of Living | Vs. McKinney |
|---|---|---|---|
| Plano, TX | 282,181 | 114 | 1.0x |
| Frisco, TX | 193,140 | 120 | 1.1x |
| Carrollton, TX | 131,388 | 105 | 0.9x |
| Richardson, TX | 115,904 | 110 | 1.0x |
| Allen, TX | 102,778 | 110 | 1.0x |
| Lakewood, WA | 62,972 | 115 | 1.0x |
| Little Elm, TX | 45,124 | 107 | 1.0x |
| The Colony, TX | 43,489 | 102 | 0.9x |
| Prosper, TX | 28,825 | 127 | 1.1x |
| Sachse, TX | 26,797 | 106 | 0.9x |
