The Colony, TX vs. Plano, TX: Cost of Living Comparison (2025)
Imagine two families, the Garcias and the Patels, both looking to relocate to the Dallas area. The Garcias are eyeing a 2-bedroom apartment in The Colony for $1,800 per month, while the Patels have their sights set on a similar unit in Plano for $2,200. When it comes to groceries, the Garcias budget $800 monthly shopping at Kroger in The Colony, whereas the Patels expect to spend $900 at Whole Foods in Plano.
This article provides a detailed cost of living comparison between The Colony and Plano, perfect for families like the Garcias and Patels who are relocating to the Dallas area, professionals choosing between job offers, or anyone weighing the real-life expenses of living in these two popular suburbs in 2025.
Housing Costs
Housing is often the biggest factor in cost of living differences. Here’s how typical rent and home prices compare in The Colony vs. Plano:
| Housing Type | The Colony | Plano |
|---|---|---|
| 2BR Apartment (Monthly Rent) | $1,800 | $2,200 |
| 3BR House (Median Price) | $350,000 | $450,000 |
🏆 Winner: The Colony. Expect to pay around 20% less for comparable housing in The Colony compared to Plano.
Utilities and Energy Costs
Utility costs are fairly similar between the two cities. A typical household in The Colony pays around $180 per month for electricity, gas, water, and trash service. In Plano, the same utilities average $200 monthly.
Both cities experience hot Texas summers, so expect higher electricity bills from June through September. Enrolling in off-peak usage plans can help manage summer a/c costs.
🏆 Winner: The Colony edges out Plano by about $20 per month on core utilities.
Groceries and Daily Expenses
Groceries and everyday items cost around 10% less in The Colony compared to Plano. Budget $800-1000 per month for groceries for a family of four in The Colony, versus $900-1100 in Plano.
Eating out is also a bit cheaper in The Colony. A meal for two at a mid-range restaurant averages $50, while a similar meal in Plano typically costs $60+.
🏆 Winner: The Colony for slightly lower food costs, both at the grocery store and local eateries.
Taxes and Fees
Plano has a higher property tax rate of 1.89%, compared to 1.59% in The Colony. For a $400K home, that’s a difference of $1200 per year.
HOA fees are common in both cities for those not in a single-family home. Expect to pay $200-400 per month, with fees in Plano trending a bit higher. Plano HOAs often include more amenities and landscaping.
🏆 Winner: The Colony has a lower property tax rate and slightly lower HOA fees on average.
Cost Summary: The Colony vs Plano
| Category | The Colony | Plano |
|---|---|---|
| Housing (2BR Rent) | $1,800 | $2,200 |
| Utilities | $180 | $200 |
| Groceries | $800 | $900 |
| Transportation | $60 | $60 |
| Taxes (1.5% of Home Value) | $437 | $562 |
| Misc Expenses | $400 | $500 |
| Estimated Monthly Total | $3,677 | $4,422 |
Lifestyle Fit: The Colony vs Plano
While Plano is around 20% more expensive than The Colony, it offers perks like more extensive public transportation, a thriving arts scene, and hundreds of corporate HQs for professionals. Plano also has highly-rated schools that can be worth the premium for families.
The Colony provides more affordable housing options and a tight-knit community feel that appeals to those seeking a smaller-town vibe. Its location along Lewisville Lake offers ample recreation just minutes from home. The Colony typically sees summer temperatures 2-3°F cooler than Plano.
FAQs
Is The Colony more affordable than Plano?
Yes, The Colony is about 20% cheaper than Plano, mainly due to lower housing, food, and utility costs.
Which city has lower rent?
Renting a 2BR apartment in The Colony saves around $400 per month compared to a similar unit in Plano.
Where is it cheaper to buy a home?
The median home price in The Colony is about $100,000 less than in Plano. Use these sample budgets for The Colony to estimate your costs.
The Colony vs Plano: Cost of Living Winner
While both cities provide a high quality of life, The Colony comes out ahead in this cost of living comparison. A household moving from Plano to The Colony might save $400 per month on housing alone, with additional savings on food, utilities, and taxes.
However, Plano remains a top choice for families prioritizing education and professionals wanting a shorter commute to major employers. Ultimately, the best fit depends on your household budget, lifestyle, and what amenities you value most.
Considering other Dallas suburbs? Check out our cost of living comparisons for popular cities like Frisco, McKinney, and Allen to understand your options in the metro area.