Housing Costs in Plano

Housing is typically the largest expense for Plano residents. As of 2025, the median rent for a 2-bedroom apartment in Plano is approximately $1,850 per month. For those looking to purchase a home, a typical mortgage payment for a 3-bedroom house falls in the range of $2,200 to $2,800 per month, depending on the neighborhood and home condition.

It’s important to note that many Plano neighborhoods have homeowners associations (HOAs), which can add an additional $200 to $400 per month to housing costs. While HOA fees are optional in some areas, they are mandatory in many of Plano’s newer developments and master-planned communities.

For comparison, here is a table of typical housing costs in Plano:

Housing Type	Monthly Cost
2BR Apartment (Median Rent)	$1,850
3BR House (Mortgage)	$2,200 – $2,800
HOA Fees	$200 – $400

Utilities and Energy Bills

Utility costs in Plano are relatively affordable compared to other major metros in Texas. Residents can expect to pay around $150 per month for electricity, $30 for natural gas, $60 for water, and $30 for trash and recycling services. However, it’s important to budget for seasonal spikes, particularly in the summer months when air conditioning usage drives up electricity bills.

Here is a monthly estimate of typical utility costs for a 3-bedroom home in Plano:

• Electricity: $150
• Natural Gas: $30
• Water: $60
• Trash & Recycling: $30
• Total: $270 per month

Keep in mind that utility costs can vary significantly based on home size, energy efficiency, and individual usage habits. Newer homes with energy-efficient appliances and good insulation may have lower utility bills than older properties.

Groceries and Daily Expenses

Plano residents spend an average of $350 to $450 per person per month on groceries and household essentials. This estimate assumes a mix of home-cooked meals and occasional dining out. For a family of four, a typical monthly grocery bill might fall between $1,400 and $1,800.

To give a sense of local prices, here is an example of what a typical grocery basket might cost in Plano:

• 1 gallon of milk: $3.50
• 1 dozen eggs: $2.75
• 1 lb of chicken breast: $4.50
• 1 lb of ground beef: $5.00
• 1 loaf of bread: $2.50

While Plano has a wide variety of grocery stores and supermarkets, including affordable options like Aldi and Walmart, prices tend to be slightly higher than in nearby Dallas due to the suburban location and higher median income.

Taxes and Hidden Fees

One important cost to consider when living in Plano is property taxes. The city has a property tax rate of approximately 1.95%, which is higher than the national average but typical for the Dallas-Fort Worth metro area. For a home valued at $400,000, this translates to an annual property tax bill of $7,800, or roughly $650 per month.

In addition to property taxes, Plano residents pay a sales tax of 8.25% on most purchases, as well as vehicle registration fees and other miscellaneous taxes. Here is a side-by-side comparison of some common taxes and fees:

Tax/Fee Type	Rate
Property Tax	1.95%
Sales Tax	8.25%
Vehicle Registration (Annual)	$50 – $90

Summary Budget Table

To help visualize the total cost of living in Plano, here is a summary table that aggregates typical monthly expenses for different household sizes. Please note that these figures represent gross monthly income (pre-tax) and may vary based on individual circumstances:

Expense Category	Single Person	Couple	Family of 4
Housing (Rent/Mortgage)	$1,400	$1,850	$2,500
Utilities	$200	$270	$350
Groceries & Essentials	$400	$800	$1,600
Transportation	$300	$500	$750
Healthcare	$250	$500	$800
Miscellaneous	$400	$600	$1,000
Total Monthly Expenses	$2,950	$4,520	$7,000

Lifestyle Considerations

When evaluating the cost of living in Plano, it’s important to consider lifestyle factors beyond just the numbers. Plano is known for its excellent schools, safe neighborhoods, and convenient access to major employers in the Dallas-Fort Worth area. However, this high quality of life comes with some tradeoffs.

One consideration is commute time. While Plano has a robust job market, many residents commute to nearby cities like Dallas, Richardson, or Frisco for work. Average commute times in Plano range from 25 to 35 minutes each way, which can add up to a significant time investment over the course of a week.

Another factor to weigh is housing age and size. Plano has a mix of older, established neighborhoods and newer master-planned communities. Older homes may be more affordable but require more maintenance, while newer homes often come with higher price tags and HOA fees. Lot sizes also tend to be smaller in Plano compared to more rural suburbs, which can be a consideration for families who want ample outdoor space.

Frequently Asked Questions

• Q: How does the cost of living in Plano compare to other Dallas suburbs?
  A: Plano has a slightly higher cost of living than suburbs like Richardson or Garland, but is more affordable than upscale areas like Frisco or Southlake.
• Q: Are there affordable apartments in Plano?
  A: Yes, Plano has a range of apartment options, with older complexes and those further from the city center tending to be more budget-friendly. Expect to pay at least $1,200 per month for a decent 1-bedroom unit.
• Q: How much do I need to earn to live comfortably in Plano?
  A: To afford a typical 2-bedroom apartment and living expenses, an individual should aim to earn at least $4,000 per month ($48,000 per year) in gross income. Couples can live comfortably on a combined gross income of around $5,500 per month ($66,000 per year).
• Q: Are property taxes high in Plano?
  
  A: Plano’s property tax rate of 1.95% is higher than the national average, but typical for the Dallas-Fort Worth area. Homeowners should budget at least $500 per month for property taxes.
• Q: Is Plano a good place to raise a family?
  A: Plano consistently ranks as one of the best cities for families due to its top-rated schools, safe neighborhoods, and abundant parks and recreation options. However, the higher cost of living may be a barrier for some families.