Is it expensive to live in McKinney Texas?
The cost of living in McKinney, Texas, is somewhat mixed, depending on the source and specific expenses. Here’s a breakdown:
Overall Cost of Living:
McKinney’s cost of living is generally reported as being slightly lower than the national average, with some sources indicating it is about 2% to 2.5% lower12. However, other reports suggest it might be higher than the national average, particularly when considering housing costs5.
Compared to the state average, McKinney is about 5% more expensive2.
Housing:
Housing costs in McKinney are often reported as being around 4% to 5% lower than the national average for renting12. However, some sources indicate that housing costs can be significantly higher than average, especially for buying5.
The average rent ranges from $1,199 to $2,5561, while the average home price is around $485,6621.
Utilities and Other Expenses:
Affordability:
In summary, while McKinney has some higher costs, particularly in utilities and healthcare, its overall affordability is enhanced by a high median income and relatively lower housing costs compared to some national averages. However, perceptions of expense can vary based on individual circumstances and lifestyle choices.
How does the cost of living in McKinney compare to other cities in Texas?
The cost of living in McKinney, Texas, varies compared to other cities in the state. Here’s a comparison with some major cities:
McKinney vs. Dallas
Rent Prices: McKinney’s rent is about 14.6% to 15.7% lower than in Dallas15.
Restaurant Prices: McKinney’s restaurant prices are 11.6% to 17.2% lower than in Dallas15.
Groceries: Groceries in McKinney are slightly higher (0.9%) than in Dallas15.
Utilities: McKinney’s basic utilities for a 915 sq ft apartment are about 14.7% higher than in Dallas1.
McKinney vs. Houston
Overall Cost of Living: McKinney is about 13.2% to 15.2% more expensive than Houston37.
Housing and Other Expenses: Generally, housing and other living expenses are higher in McKinney compared to Houston.
McKinney vs. San Antonio
Overall Cost of Living: San Antonio is about 13.7% cheaper than McKinney4.
Salary Adjustment: Moving from McKinney to San Antonio might result in a positive net change in disposable income due to lower living costs4.
McKinney vs. Austin
Overall Cost of Living: McKinney’s cost of living is about 12% lower than Austin’s2.
Housing: McKinney’s housing costs are significantly lower than Austin’s, with Austin’s housing index being much higher2.
In summary, McKinney is generally more expensive than Houston and San Antonio but less expensive than Dallas and Austin, particularly in terms of housing and restaurant prices. However, utilities and healthcare costs in McKinney are higher compared to some of these cities.