Cost of Living: McKinney, TX vs Elizabeth, NJ (2026)

McKinney

Texas
138
VS

Elizabeth

New Jersey
112

McKinney is 23% more expensive than Elizabeth.

$1,841/mo ↑ 26%
Median Rent
$1,463/mo ↓ 21%
$120,273/yr ↑ 88%
Median Income
$63,874/yr ↓ 47%
$439,500 ↑ 12%
Home Value
$393,500 ↓ 10%
$2,101/mo ↑ 36%
Owner Costs
$1,543/mo ↓ 27%
202,314
Population
135,887

Tax Comparison

0%
Income Tax
10.75%
6.25%
State Sales Tax
6.625%
1.6%
Property Tax
2.23%

Affordability

18.4%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing McKinney, TX and Elizabeth, NJ, the overall cost of living indices are 138 and 112 respectively (national median = 100). Rent is $378/month cheaper in Elizabeth, saving renters about $4,536/year.

Median household income is $56,399/year higher in McKinney. Home values also differ significantly — the median in McKinney is $439,500 compared to $393,500 in Elizabeth.

Texas has no state income tax, giving McKinney residents a significant tax advantage over New Jersey's 10.75% rate.

Frequently Asked Questions

McKinney vs Elizabeth — common questions

Is McKinney or Elizabeth cheaper to live in?
Based on our cost index, Elizabeth is cheaper to live in with an index of 112 compared to 138 (US average = 100).
What is the rent difference between McKinney and Elizabeth?
Median rent in McKinney is $1,841/month and in Elizabeth it's $1,463/month — a difference of $378/month.
Which city has higher income, McKinney or Elizabeth?
Median household income is $120,273 in McKinney and $63,874 in Elizabeth. Median household income is $56,399/year higher in McKinney.
How do taxes compare between Texas and New Jersey?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to McKinney or Elizabeth?
It depends on your priorities. McKinney has a cost index of 138 with median rent of $1,841/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View McKinney details → View Elizabeth details →

More Comparisons

Other cost of living comparisons for McKinney and Elizabeth

McKinney vs. Little Rock McKinney vs. Augusta McKinney vs. Salt Lake City McKinney vs. Oxnard McKinney vs. Columbus McKinney vs. Amarillo Elizabeth vs. Victorville Elizabeth vs. Stamford Elizabeth vs. Miramar Elizabeth vs. Kent Elizabeth vs. Pasadena Elizabeth vs. Midland