Plano is located in North Texas within the Dallas-Fort Worth metropolitan area. Proximity to Dallas and Fort Worth contribute to the cost of living in Plano. So does the availability of amenities and quality education. The cost of living is high compared to similar cities in the area and 12% higher than the national average.
It has been featured in CNN Money Magazine 2005, 2006, and 2011 as the best place to live in the Western United States. In 2011, Forbes named it one of the safest cities in America. According to CNN Money and the United States Census Bureau of 2008, it is also the wealthiest city in America.
Breakdown of Cost of Living in Plano
Housing
The median yearly household income is about $111,000, which is twice the U.S. average. The median home price is $416,181, which surpasses the average U.S. figure. However, this price is similar to what you would get in other major cities in the country.
The average size of a Plano apartment is 935 sq. ft. and goes for $1,331. Unit type and apartment location for rent influence price. Studio apartments are the most affordable, but this is because they are also the smallest. One-bedroom, two-bedroom, and three-bedroom apartments go for higher prices because they offer more space.
The most affordable neighborhoods in Plano are Amelia Court, Briardale, and Briameade. The average rent in these areas is about $1,232 monthly. Other excellent options can be found on Bunker Hill Estates, Bunker Hill View, and Chisholm Place listings. Asking prices here are typically below the city’s average.
If you search for more luxurious homes, Whitestone, Wolf Creek Estates, and Windsor Park make good picks. Their average rent is around $1,500. Popular neighborhoods for those who want to be in the heat of the action include Downtown Plano, Coit Center, and Bush Central Station. Rent in these locations range between $1,250 and $1,380.
Transportation
The Dallas Area Rapid Transit regulates the city’s public transport system. In the past, Plano only had a bus service within the city. Recently, a light-rail service was constructed, a saving grace for commuters. One way bus ticket is $3, while a monthly pass goes for $80.
Moving around Plano by car is a breeze because of the Easter access provided by Sam Rayburn tollway and George Bush tollway. This road serves the city’s South and North boundaries and allows easy access to the DFW International Airport. A gallon of gasoline costs $2.71.
Utilities and Groceries
Basic utilities, including electricity, heating, cooling garbage, and water for one person in an average apartment, cost $150.90/mo. Unlimited internet service of 60 Mbps and above is about $64.19. Without discounts, one minute of prepaid mobile tariff on local calls is $0.15.
- A liter of milk is $0.66
- 1kg white rice $3.61
- A loaf of bread $2.68
- A dozen eggs $2
- 1kg chicken fillet $8.25
- 1kg potato $2.07
