Cost of living in Plano 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 Plano 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 Plano is 114, with 100 being the average.
The cost of living index in Plano is 1.1x higher than the national average.
Plano ranks as the #373 cheapest in Texas out of 405.
Plano ranks as the #4,427 cheapest out of 6,412 in the US.
The median home value in Plano is $358,100.
The median income in Plano is $99,729.
According to the most recent data on the cost of living, Plano has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to Texas, Plano has a cost of living index that's 1.2x higher than Texas's index of 92.
The standard of living in Plano ranks as #373 most affordable out of the 405 places we measured in Texas. By definition, that implies Plano ranks as the #32 most expensive place in the Lone Star State.
For more reading on life in Plano, check out:
Six factors go into calculating the cost of living index in Plano. Here is how it fairs on each of the criteria:
The Services index in Plano is 114.
The Groceries index in Plano is 97.
The Health index in Plano is 77.
The Housing index in Plano is 133.
The Transportation index in Plano is 101.
The Utilities index in Plano is 108.
|Living Expense||Plano||Texas||National Average|
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 Plano is $358,100.
The Median Rent in Plano is $1,541.
The Median Income in Plano is $99,729.
The Home Value To Income in Plano is 3.6x.
The Rent To Monthly Income in Plano is 0.19x.
|Median Home Value||$358,100||$202,600||$244,900|
|Home Value To Income||3.6x||3.0x||3.5x|
|Rent To Monthly Income||0.19x||0.2x||0.2x|
The cost of living varies in the cities and towns around Plano. Here's a quick look at the cost of living in the most populous nearby places:
Frisco, TX has a cost of living index of 120, 1.1x Plano.
McKinney, TX has a cost of living index of 112, 1.0x Plano.
Carrollton, TX has a cost of living index of 105, 0.9x Plano.
|City||Population||Cost Of Living||Vs. Plano|
|The Colony, TX||43,489||102||0.9x|
|University Park, TX||25,029||214||1.9x|