Cost of Living: Independence, MO vs Richardson, TX (2026)

Independence

Missouri
67
VS

Richardson

Texas
128

Independence is 48% cheaper than Richardson.

$1,061/mo ↓ 42%
Median Rent
$1,825/mo ↑ 72%
$59,480/yr ↓ 38%
Median Income
$96,257/yr ↑ 62%
$166,400 ↓ 59%
Home Value
$405,600 ↑ 144%
$1,046/mo ↓ 42%
Owner Costs
$1,796/mo ↑ 72%
121,944
Population
118,269

Tax Comparison

4.95%
Income Tax
0%
4.225%
State Sales Tax
6.25%
0.93%
Property Tax
1.6%

Affordability

21.4%
rent-to-income
Affordability
22.8%
rent-to-income

Detailed Comparison

When comparing Independence, MO and Richardson, TX, the overall cost of living indices are 67 and 128 respectively (national median = 100). Rent is $764/month cheaper in Independence, saving renters about $9,168/year.

Median household income is $36,777/year higher in Richardson. Home values also differ significantly — the median in Independence is $166,400 compared to $405,600 in Richardson.

Texas has no state income tax, giving Richardson residents a significant tax advantage over Missouri's 4.95% rate.

Frequently Asked Questions

Independence vs Richardson — common questions

Is Independence or Richardson cheaper to live in?
Based on our cost index, Independence is cheaper to live in with an index of 67 compared to 128 (US average = 100).
What is the rent difference between Independence and Richardson?
Median rent in Independence is $1,061/month and in Richardson it's $1,825/month — a difference of $764/month.
Which city has higher income, Independence or Richardson?
Median household income is $59,480 in Independence and $96,257 in Richardson. Median household income is $36,777/year higher in Richardson.
How do taxes compare between Missouri and Texas?
Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Independence or Richardson?
It depends on your priorities. Independence has a cost index of 67 with median rent of $1,061/mo, while Richardson has a cost index of 128 with rent of $1,825/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Independence details → View Richardson details →

More Comparisons

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