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

Richmond

Virginia
98
VS

McKinney

Texas
138

Richmond is 29% cheaper than McKinney.

$1,314/mo ↓ 29%
Median Rent
$1,841/mo ↑ 40%
$62,671/yr ↓ 48%
Median Income
$120,273/yr ↑ 92%
$328,100 ↓ 25%
Home Value
$439,500 ↑ 34%
$1,374/mo ↓ 35%
Owner Costs
$2,101/mo ↑ 53%
227,595
Population
202,314

Tax Comparison

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

Affordability

25.2%
rent-to-income
Affordability
18.4%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and McKinney, TX, the overall cost of living indices are 98 and 138 respectively (national median = 100). Rent is $527/month cheaper in Richmond, saving renters about $6,324/year.

Median household income is $57,602/year higher in McKinney. Home values also differ significantly — the median in Richmond is $328,100 compared to $439,500 in McKinney.

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

Frequently Asked Questions

Richmond vs McKinney — common questions

Is Richmond or McKinney cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 138 (US average = 100).
What is the rent difference between Richmond and McKinney?
Median rent in Richmond is $1,314/month and in McKinney it's $1,841/month — a difference of $527/month.
Which city has higher income, Richmond or McKinney?
Median household income is $62,671 in Richmond and $120,273 in McKinney. Median household income is $57,602/year higher in McKinney.
How do taxes compare between Virginia and Texas?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Richmond or McKinney?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while McKinney has a cost index of 138 with rent of $1,841/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View McKinney details →

More Comparisons

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Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino McKinney vs. Little Rock McKinney vs. Augusta McKinney vs. Salt Lake City McKinney vs. Oxnard McKinney vs. Columbus McKinney vs. Amarillo