Cost of Living in Plano Texas (Complete Breakdown)

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Cost of Living in Plano Texas (Complete
Breakdown)
Are you thinking about relocating to Plano, Texas
but wondering about the cost of living in Plano?
Dont worry! We are here to guide you on some key
factors that affect Planos overall living
cost. Is Plano, Texas the Right Place for
Your Relocation? If you are unsure where Plano is
actually located, let us guide you. It is a
suburban area that lies to the north in the
Dallas suburbs of Richardson and South of Frisco
and Allen, and is landlocked in the middle of
the Northern suburbs of Dallas. Most of the
portions of Plano lie within Collin County.
However, a small portion extends into Denton
Dallas Counties Benefits of Moving to Plano,
Texas Plano TX shows significant year-over-year
growth in population and the job market. It is
also known as a commuter town for the people
working in Dallas and nearby cities. Moreover,
transportation in Plano costs less. Planos
population is at 285,494 as of the 2020
consensus, ranking it the ninth most populous
city in Texas. Plano is home to several Fortune
1000 corporate headquarters,
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with Forbes ranking it the nations safest city
in 2011. Crime rates are low in the city, and
the facilities and public amenities are
child-friendly. Moreover, Plano is just 20-30
minutes away from Downtown Dallas, DFW, and
Dallas Love Field Airports. The benefit of
moving to Plano is that Texas is a tax-friendly
state with no state income tax. It means that
your average salary will remain higher, and you
will be able to provide more income for the
essential cost of living in Plano. However, you
still have to pay federal income taxes, a 6.25
sales tax, and additional local sales tax of up
to 2, depending upon your location. Plano Cost
of Living Factors to Consider Before Moving to
Plano When you move into a new city, the cost of
living is considered as the amount of money you
need to maintain a specific lifestyle within a
particular area. It may vary between cities and
is calculated based on the cost of different
goods, services, and real estate property. If
you plan to relocate to Plano, you must compare
the cost of these necessities to determine the
cost of living. Several factors such as your
food, transportation, utilities, and healthcare
expenses may influence the cost of living in
Plano. Income is also an essential factor in the
cost of living as the average salary levels in a
specific geographic area are measured against all
these expenses. According to the current data
available, Planos cost of living index is 109.3
which is higher than the national average. In
fact, it is considered more expensive to live in
Plano than in many places in the USA. However,
the median income of each household is 111,693,
which is significantly higher than the national
average salary. When you consider that factor,
Planos living cost seems quite
affordable. Housing Costs in Plano The housing
expenses of Plano are 21 higher, and the rental
costs are equally more expensive than the United
States average. The median home price in the city
is 419,176, and the median rent for an
apartment is 1,313 per month. Energy Costs The
average cost of electricity for a household in
Plano is 12.2/kWh, which is higher than the
national average of 11.88/k. Furthermore, gas
prices are also 4 higher in the city. You can
expect an increase in energy costs in June, July,
and August as Texas has typically hot summers.
Your air conditioner will be running non-stop in
these summer months to reduce the extreme
temperature of Texas. In the winter months, you
can expect an increase in heating
expenses. Transportation Rxpenses Public
transportation costs are less expensive than the
United States average and score 9 out of 10. A
score of 1 indicates high prices, and 10
represents a low cost. Food and Grocery Costs The
grocery cost of living index in Plano is 103, 3
higher than the national average. However,
grocery and food costs could be curbed a little
to make the cost of living in Plano a bit
affordable.
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Healthcare Costs Planos healthcare costs are
affordable and 15 lower than the national
average. Entertainment Costs According to BLS (US
Bureau of Labor Statistics), Americans spend the
same amount of money on entertainment per year
that they would on purchasing health insurance
coverage. You can also cut back on entertainment
expenses by altering your spending habits. Plano
Independent School District Plano Independent
School District is highly regarded overall. It
provides most of the educational opportunities
in the city. You might be surprised that other
than the location, schools in Plano also play an
essential part in determining the cost of real
estate in that area. According to a study, houses
located near schools tend to have a higher real
estate value. The schools rankings and
excellence are also essential factors in
increasing the propertys value. Plano
independent school district is divided into three
distinct school districts primarily based on the
senior high school Plano Senior High School
District The education system of Plano is unique,
with 9th and 10th grade students attending their
neighborhood high school while 10th and 11th
grade students attend one of three senior high
schools in Plano. The lower level 9th and 10th
grade schools feed into specific high schools
for the next level. Plano Senior High School is
one of the oldest high schools in Plano, located
in the middle of the city between the Plano West
and East school districts. Admission to this
school is based primarily on the location of the
students house. The senior high school ranks 6
out of ten on the rating scale by Great Schools.
It offers 31 out of 34 AP Advanced Placement
courses and administers the second most number of
AP exams every year in the entire country. So,
if you are planning on moving your family
to Plano, your children will benefit from the
excellent academic opportunities provided by
Plano Senior High School. Plano East Senior High
School District Plano East Senior High School is
located on the eastern side of the city and ranks
8 out of 10 in ratings by Great Schools. The
school is renowned for its International
Baccalaureate program, and all eligible ISD
students can enroll irrespective of their
location in Plano. Plano East Senior High Schools
also offer a health sciences program that Plano
ISD students across the city can enroll
in. Plano West Senior High School district Plano
West Senior High has a rating of 9 out of 10 by
Great School, making it one of the best ISD
senior high schools. We suggest checking with
greatschools.org as they are a valuable resource
in providing you with information about the
school districts. You can check out the best
schools in each district of Plano by searching
for the property address in that area. It will
give you the school name where a student living
in that particular area would be eligible to
attend, and its ratings will help you determine
where to relocate. The Housing Market in Plano
Texas
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• The price of real estate is calculated in
  averages and medians. An average home in West
  Plano sells for 620,000, whereas in Central
  Plano, it has an average market time of six days
  and will sell 2.5 above its list price of around
  430,000.
• Plano TX Cost of Housing in the Plano Senior High
• School District/Central Plano
• A median home, built around 1981 and located in
  Planos Senior High district, is usually about
  2300 square feet and has four beds and two baths.
  It is generally priced around
• 430,000 as the housing market price in Central
  Plano is 188 per square foot. Some of the best
  neighborhoods in Central Plano are
• Whiffletree
• Pitman Creek Estates
• Forest Creek Estates
• Park Forest
• Suppose you put 20 in a down payment for a
  430,000, 2,300 square feet house in Central
  Plano. It has a 3 interest rate on your annual
  property taxes. So, when you calculate its
  average at 2.25, youll be paying a monthly
  installment of 2,250, including principal,
  interest, and property tax.
• Cost of Housing in Plano East Senior High School
• District Plano, Texas
• A median home in the Plano East Senior High
  School district, built around 1995, is usually
  about 2550 square feet with four beds and two
  baths. It is generally priced at around
• 474,000 as the housing market price in East
  Plano, TX, is 178 per square foot.
• A median home in East Plano has an average market
  time of seven days and usually sells for 2.5
  above its listing price.
• Some of the best neighborhoods in East Plano
  include
• Timber Brook
• Plano East
• Los Rios

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• A median home in West Plano built around 1994 is
  usually about 3,200 square feet with four beds
  and three and a half baths. It is generally
  priced at around 620,000 as the market price of
  houses in West Plano is 200 per square foot.
• A median home in West Plano has an average market
  time of seven days and usually sells for 2.5
  above its listing price.
• Some of the best neighborhoods in Plano West
  include
• The Clubs of Prestonwood
• Lakeside on Preston
• El Ranchero
• Willow Bend
• Deerfield
• Suppose you put a 20 down payment for 620,000
  and about a 3,200 square feet house in West
  Plano. If it has a 3 percent interest rate and
  your annual property taxes average about 2.25,
  youll be paying a monthly payment of 3,250,
  including principal interest and property taxes.
• FAQs
• How is the cost of living in Plano calculated?
• Plano cost of living data is derived from the
  cost of living index (COLI) from the Council for
  Community and Economic Research.
• What is a cost of living index?
• The cost of living index helps compare the cost
  of basic necessities, utility bills, rent, and
  home prices in specific areas.
• How does a cost of living calculator work?
• It works by comparing the cost of living in
  various cities depending on your pre-tax
  household income.
• Want to relocate to Plano? We are here to help
• If youve checked out the above information about
  the cost of living in Plano, Texas, and
• wish to relocate to the city, we will guide you
  every step of the way. Our goal is to help you
  with your real estate needs. We are a team of
  licensed Realtors in Dallas, Texas, working with
  clients worldwide who wish to relocate to Plano,
  Dallas, and its neighboring areas.