The cost of living in Plano, TX is above the US norm for a mid-sized city, mostly because of housing. The average one-bedroom rent is about $1,530 a month (Rentometer, October 2026), and a solo renter should plan for roughly $3,600 to $3,800 a month. MIT puts a single adult in Collin County at $54,616 a year before tax.
Quick answer
Zillow shows an average rent of $1,736 and an average home value of $497,714 for Plano (30 September 2026). The 30% rent rule of thumb suggests about $61,200 a year gross for a $1,530 one-bedroom. Figures were checked in October 2026.
Cost of living in Plano TX at a glance
MIT’s Living Wage model (updated February 2026) prices a basic budget for one adult with no children in Collin County:
| Category | Per year | Per month |
|---|---|---|
| Housing | $21,719 | $1,810 |
| Transportation | $9,106 | $759 |
| Food | $4,381 | $365 |
| Medical | $3,032 | $253 |
| Internet and mobile | $1,433 | $119 |
| Other necessities | $4,067 | $339 |
| Civic | $2,583 | $215 |
| After-tax total | $46,322 | $3,860 |
The pre-tax equivalent is $54,616 a year, or $26.26 an hour.
Rent in Plano
| Home size | Average asking rent |
|---|---|
| Studio | $1,483 |
| 1 bedroom | $1,530 |
| 2 bedrooms | $1,990 |
| 3 bedrooms | $2,704 |
Rentometer, 23 October 2026, all property types. Prices vary by neighbourhood and building age. For nearby cities, compare Dallas, Fort Worth and Irving.
Buying a home in Plano
Zillow’s average home value of $497,714 means a sizeable down payment. Texas has no state income tax, but property taxes are significant, so check the Collin County tax office and add insurance and maintenance to the mortgage before comparing with rent.
Transportation
MIT budgets $9,106 a year (about $759 a month) for transportation, which reflects how car-dependent the area is. DART serves parts of Plano with buses and rail; its 2025 fare restructure lists a $3 three-hour pass and a $6 day pass, with fare capping. Check DART for current prices. Some toll roads may add to commuting costs.
Sample monthly budget for a solo renter
| Category | Monthly amount |
|---|---|
| Rent (1 bedroom) | $1,530 |
| Transportation | $759 |
| Food | $365 |
| Medical | $253 |
| Internet and mobile | $119 |
| Other necessities | $339 |
| Civic | $215 |
| Total | About $3,580 |
Using Zillow’s $1,736 average rent instead lifts the total to about $3,786. Savings are not included.
Salary needed in Plano
| Household | MIT hourly living wage |
|---|---|
| 1 adult, no children | $26.26 |
| 1 adult, 1 child | $41.38 |
| 2 working adults, 2 children | $27.70 each |
How to save money in Plano
- Share a two-bedroom (average $1,990) to cut rent per person.
- Live near work or a DART station to reduce driving and toll costs.
- Compare electricity plans before you sign up, as Texas is a deregulated market in many areas.
- Cook at home and use discount grocers.
Frequently asked questions about the cost of living in Plano, TX
How much does it cost to live in Plano, TX per month?
A solo renter paying about $1,530 for a one-bedroom needs roughly $3,600 a month once MIT-modelled transport, food, medical, phone and other costs are added. Using Zillow’s $1,736 average rent lifts it to about $3,800.
What is the average rent in Plano?
Rentometer lists about $1,483 for a studio, $1,530 for a one-bedroom, $1,990 for a two-bedroom and $2,704 for a three-bedroom (October 2026). Zillow shows an all-home average of $1,736.
How much do you need to earn to live in Plano, TX?
MIT puts a single adult in Collin County at $26.26 an hour, or $54,616 a year before tax, for basic needs. At a $1,530 rent, the 30% rule of thumb points to about $61,200 a year.
Does Texas have a state income tax?
No. Texas has no state income tax on wages, but property taxes are significant. Check the Collin County tax office for current rates.
How much is public transit in Plano?
DART lists a $3 three-hour pass and a $6 day pass under its 2025 fare restructure, with fare capping. Check DART for current prices.
Sources
- MIT Living Wage Calculator, Collin County, TX (updated February 2026)
- Rentometer, average rent in Plano, TX (23 October 2026)
- Zillow, Plano home values and rents (30 September 2026)
- DART, 2025 fare restructure
