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

Plano

Texas
132
VS

Independence

Missouri
67

Plano is 97% more expensive than Independence.

$1,792/mo ↑ 69%
Median Rent
$1,061/mo ↓ 41%
$108,649/yr ↑ 83%
Median Income
$59,480/yr ↓ 45%
$440,600 ↑ 165%
Home Value
$166,400 ↓ 62%
$1,829/mo ↑ 75%
Owner Costs
$1,046/mo ↓ 43%
287,339
Population
121,944

Tax Comparison

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

Affordability

19.8%
rent-to-income
Affordability
21.4%
rent-to-income

Detailed Comparison

When comparing Plano, TX and Independence, MO, the overall cost of living indices are 132 and 67 respectively (national median = 100). Rent is $731/month cheaper in Independence, saving renters about $8,772/year.

Median household income is $49,169/year higher in Plano. Home values also differ significantly — the median in Plano is $440,600 compared to $166,400 in Independence.

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

Frequently Asked Questions

Plano vs Independence — common questions

Is Plano or Independence cheaper to live in?
Based on our cost index, Independence is cheaper to live in with an index of 67 compared to 132 (US average = 100).
What is the rent difference between Plano and Independence?
Median rent in Plano is $1,792/month and in Independence it's $1,061/month — a difference of $731/month.
Which city has higher income, Plano or Independence?
Median household income is $108,649 in Plano and $59,480 in Independence. Median household income is $49,169/year higher in Plano.
How do taxes compare between Texas and Missouri?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax.
Should I move to Plano or Independence?
It depends on your priorities. Plano has a cost index of 132 with median rent of $1,792/mo, while Independence has a cost index of 67 with rent of $1,061/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Plano details → View Independence details →

More Comparisons

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