The Colony, TX

Above Avg · 125

Texas · Population 44,916 · Updated March 2026

$1,884
Median Rent / Month
$111,090
Median Income
$355,100
Median Home Value
$1,849
Owner Costs / Month

Affordability

How far your income goes in The Colony

20.4%
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

$22,608
Annual Rent
$0
State Income Tax
$5,682
Property Tax (est.)

Cost of Living Overview

The Colony has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 125 (where 100 equals the national median), The Colony residents can expect to pay median rent of $1,884/month while earning a median household income of $111,090/year.

The median home value in The Colony, TX is $355,100, with typical monthly owner costs around $1,849 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.4% 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 The Colony.

Frequently Asked Questions

Common questions about living costs in The Colony

What is the cost of living in The Colony, TX?
The cost of living index in The Colony, TX is 125 (US average = 100). Median monthly rent is $1,884, median household income is $111,090/year, and the median home value is $355,100.
Is The Colony, TX affordable?
No, The Colony is more expensive than the national average with a cost index of 125. The rent-to-income ratio is 20.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in The Colony, TX?
The median gross rent in The Colony, TX is $1,884 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,608.
What is the median household income in The Colony?
The median household income in The Colony, TX is $111,090 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.