| Index | Plano | Texas | National |
| Cost of living | 122 | 94 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 175 | 83 | 100 |
| Transportation | 99 | 98 | 100 |
| Utilities | 101 | 103 | 100 |
| Lifestyle & Entertainment | 104 | 98 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 100 | 98 | 100 |
Knowing the cost of living in Plano allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Plano stands at 122, marking it 22% higher than the national average.
If you're in pursuit of an economical living environment, Plano may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Plano falls within this bracket.
Housing costs significantly influence the Plano cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 75.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Locals have the inside scoop on their city. So, we polled 55 residents in Plano to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 47% find it reasonable with decreasing prices, but 53% think it's quite pricey, with prices that continue to rise.
Is Plano affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Plano, the median home price is 86% higher than the national average and monthly rent prices are 50.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Plano boasting a median household income of $140,975, 73.3% higher than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Plano, the groceries index registers 3.7% lower than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Plano starts at 6.25% and the income tax rates start at 0%.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Plano, healthcare costs are 2.4% lower than the national average.
The cost of living estimates displayed for Plano are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $189,191 | $15,766 | $4,414 | $5,676 |
| Renters | $107,089 | $8,924 | $2,499 | $3,213 |
| State | General Sales Tax | With Max Surtax |
| Texas | 6.25% | 8.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Texas | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Bristol, TX | 462 | 99 | 1.1% |
| St. Paul CDP, TX | 608 | 80 | 19.8% |
| St. Paul, TX | 1,407 | 80 | 19.7% |
| Horseshoe Bend, TX | 641 | 83 | 16.7% |
| Garland, TX | 245,211 | 102 | 1.8% |
| Plano, TX | 297,929 | 122 | 21.8% |
| City | Population | Cost of Living Index | National Avg. |
| Orlando, FL | 294,679 | 116 | 16.2% |
| Lincoln, NE | 293,945 | 97 | 2.9% |
| Gatineau, QC | 293,695 | n/a | |
| Anchorage, AK | 302,697 | 132 | 32.0% |
| Greensboro, NC | 304,481 | 98 | 1.8% |
| Plano, TX | 297,929 | 122 | 21.8% |
Here are the best places to live in Texas
Safest States In The US
These are the largest cities in Texas
Check out the 10 safest cities in Texas