Prosper, TX

Very High · 195

Texas · Population 34,567 · Updated March 2026

$2,152
Median Rent / Month
$187,603
Median Income
$694,600
Median Home Value
$3,268
Owner Costs / Month

Affordability

How far your income goes in Prosper

13.8%
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

$25,824
Annual Rent
$0
State Income Tax
$11,114
Property Tax (est.)

Cost of Living Overview

Prosper has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 195 (where 100 equals the national median), Prosper residents can expect to pay median rent of $2,152/month while earning a median household income of $187,603/year.

The median home value in Prosper, TX is $694,600, with typical monthly owner costs around $3,268 including mortgage, insurance, and taxes. The median rent-to-income ratio of 13.8% 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 Prosper.

Frequently Asked Questions

Common questions about living costs in Prosper

What is the cost of living in Prosper, TX?
The cost of living index in Prosper, TX is 195 (US average = 100). Median monthly rent is $2,152, median household income is $187,603/year, and the median home value is $694,600.
Is Prosper, TX affordable?
No, Prosper is more expensive than the national average with a cost index of 195. The rent-to-income ratio is 13.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Prosper, TX?
The median gross rent in Prosper, TX is $2,152 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $25,824.
What is the median household income in Prosper?
The median household income in Prosper, TX is $187,603 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.