Cost of Living: Plano, TX vs Richmond, VA (2026)

Plano

Texas
132
VS

Richmond

Virginia
98

Plano is 35% more expensive than Richmond.

$1,792/mo ↑ 36%
Median Rent
$1,314/mo ↓ 27%
$108,649/yr ↑ 73%
Median Income
$62,671/yr ↓ 42%
$440,600 ↑ 34%
Home Value
$328,100 ↓ 26%
$1,829/mo ↑ 33%
Owner Costs
$1,374/mo ↓ 25%
287,339
Population
227,595

Tax Comparison

0%
Income Tax
5.75%
6.25%
State Sales Tax
5.3%
1.6%
Property Tax
0.8%

Affordability

19.8%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Plano, TX and Richmond, VA, the overall cost of living indices are 132 and 98 respectively (national median = 100). Rent is $478/month cheaper in Richmond, saving renters about $5,736/year.

Median household income is $45,978/year higher in Plano. Home values also differ significantly — the median in Plano is $440,600 compared to $328,100 in Richmond.

Texas has no state income tax, giving Plano residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Plano vs Richmond — common questions

Is Plano or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 132 (US average = 100).
What is the rent difference between Plano and Richmond?
Median rent in Plano is $1,792/month and in Richmond it's $1,314/month — a difference of $478/month.
Which city has higher income, Plano or Richmond?
Median household income is $108,649 in Plano and $62,671 in Richmond. Median household income is $45,978/year higher in Plano.
How do taxes compare between Texas and Virginia?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Plano or Richmond?
It depends on your priorities. Plano has a cost index of 132 with median rent of $1,792/mo, while Richmond has a cost index of 98 with rent of $1,314/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Plano details → View Richmond details →

More Comparisons

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