Richardson, TX Cost Of Living
Cost Of Living In Richardson, TX Summary
Cost of living in Richardson 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 Richardson 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 Richardson is 123, with 100 being the average.
The cost of living index in Richardson is 1.2x higher than the national average.
Richardson ranks as the #365 cheapest in Texas out of 414.
Richardson ranks as the #4,598 cheapest out of 6,489 in the US.
The median home value in Richardson is $434,035.
The median income in Richardson is $96,257.
Table Of Contents
Richardson's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Richardson, TX?
According to the most recent data on the cost of living, Richardson has an overall cost of living index of 123, which is 1.2x higher than the national index of 100.
Compared to Texas, Richardson has a cost of living index that's 1.3x higher than Texas's index of 92.
The standard of living in Richardson ranks as #365 most affordable out of the 414 places we measured in Texas. By definition, that implies Richardson ranks as the #49 most expensive place in the Lone Star State.
For more reading on life in Richardson, check out:
In Texas
In America
Richardson Cost Of Living Vs. Texas
Six factors go into calculating the cost of living index in Richardson. Here is how it fairs on each of the criteria:
The Services index in Richardson is 120.
The Groceries index in Richardson is 98.
The Health index in Richardson is 111.
The Housing index in Richardson is 156.
The Transportation index in Richardson is 95.
The Utilities index in Richardson is 113.
| Living Expense | Richardson | Texas | National Average | |
|---|---|---|---|---|
| Overall | 123 | 92 | 100 | |
| Services | 120 | 97 | 100 | |
| Groceries | 98 | 97 | 100 | |
| Health | 111 | 93 | 100 | |
| Housing | 156 | 82 | 100 | |
| Transportation | 95 | 94 | 100 | |
| Utilities | 113 | 104 | 100 | |
Richardson, 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 2019-2023. The key points are:
The Median Home Value in Richardson is $434,035.
The Median Rent in Richardson is $1,825.
The Median Income in Richardson is $96,257.
The Home Value To Income in Richardson is 4.5x.
The Rent To Monthly Income in Richardson is 0.23x.
| Statistic | Richardson | Texas | United States |
|---|---|---|---|
| Median Home Value | $434,035 | $298,905 | $303,400 |
| Median Rent | $1,825 | $1,339 | $1,348 |
| Median Income | $96,257 | $76,292 | $78,538 |
| Home Value To Income | 4.5x | 3.9x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.21x | 0.21x |
Median Home Value
Median Rent
Median Income
Richardson, TX Costs By Category
Detailed Richardson Services Costs Vs. Texas
| Item | Richardson | Texas |
|---|---|---|
| Shampoo | $1.22 | $1.28 |
| Movie | $11.85 | $12.13 |
| Bowling | $16.96 | $18 |
| Haircut | $23.57 | $24.26 |
| Beauty Salon | $35.11 | $45.56 |
Detailed Richardson Groceries Costs Vs. Texas
| Item | Richardson | Texas |
|---|---|---|
| Ground Beef | $5.44 | $5.84 |
| Fried Chicken | $1.32 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $4.15 | $4.93 |
| Pizza | $11.96 | $12.09 |
| Beer | $10.27 | $10.41 |
| Toothpaste | $3.51 | $3.7 |
Detailed Richardson Health Costs Vs. Texas
| Item | Richardson | Texas |
|---|---|---|
| Optometrist | $96.63 | $125.68 |
| Doctor | $131.0 | $135.78 |
| Dentist | $86.73 | $113.29 |
Detailed Richardson Transportation Costs Vs. Texas
| Item | Richardson | Texas |
|---|---|---|
| Gasoline | $3.47 | $3.46 |
| Tire Balancing | $66.47 | $59.92 |
Detailed Richardson Utilities Costs Vs. Texas
| Item | Richardson | Texas |
|---|---|---|
| All Electricity | $145.64 | $193.99 |
| Phone | $208.71 | $192.25 |
Richardson SnackAbility
/10
Cost Of Living In Cities Around Richardson
The cost of living varies in the cities and towns around Richardson. 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 129, 1.0x Richardson.
Garland, TX has a cost of living index of 110, 0.9x Richardson.
Frisco, TX has a cost of living index of 139, 1.1x Richardson.
| City | Population | Cost Of Living | Vs. Richardson |
|---|---|---|---|
| Plano, TX | 287,339 | 129 | 1.0x |
| Garland, TX | 245,298 | 110 | 0.9x |
| Frisco, TX | 210,238 | 139 | 1.1x |
| McKinney, TX | 202,314 | 130 | 1.1x |
| Carrollton, TX | 132,741 | 120 | 1.0x |
| Lewisville, TX | 128,313 | 118 | 1.0x |
| Allen, TX | 107,684 | 129 | 1.0x |
| Rowlett, TX | 64,139 | 121 | 1.0x |
| The Colony, TX | 44,916 | 120 | 1.0x |
| Coppell, TX | 42,029 | 135 | 1.1x |
