Plano, TX

Very High · 132

Texas · Population 287,339 · Updated March 2026

$1,792
Median Rent / Month
$108,649
Median Income
$440,600
Median Home Value
$1,829
Owner Costs / Month

Affordability

How far your income goes in Plano

19.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$21,504
Annual Rent
$0
State Income Tax
$7,050
Property Tax (est.)

Cost of Living Overview

Plano has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 132 (where 100 equals the national median), Plano residents can expect to pay median rent of $1,792/month while earning a median household income of $108,649/year.

The median home value in Plano, TX is $440,600, with typical monthly owner costs around $1,829 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Plano.

Frequently Asked Questions

Common questions about living costs in Plano

What is the cost of living in Plano, TX?
The cost of living index in Plano, TX is 132 (US average = 100). Median monthly rent is $1,792, median household income is $108,649/year, and the median home value is $440,600.
Is Plano, TX affordable?
No, Plano is more expensive than the national average with a cost index of 132. The rent-to-income ratio is 19.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Plano, TX?
The median gross rent in Plano, TX is $1,792 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,504.
What is the median household income in Plano?
The median household income in Plano, TX is $108,649 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.

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