Richardson, TX Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Richardson, TX Summary

Cost of living in Richardson research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Richardson is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Texas, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Richardson is 110, with 100 being the average.

  • The cost of living index in Richardson is 1.1x higher than the national average.

  • Richardson ranks as the #365 cheapest in Texas out of 405.

  • Richardson ranks as the #4,128 cheapest out of 6,412 in the US.

  • The median home value in Richardson is $326,900.

  • The median income in Richardson is $87,720.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
110
Richardson's Overall Cost Of Living
1.1x
Higher Than The National Average

What is the cost of living in Richardson, TX?

According to the most recent data on the cost of living, Richardson has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.

Compared to Texas, Richardson has a cost of living index that's 1.2x higher than Texas's index of 92.

The standard of living in Richardson ranks as #365 most affordable out of the 405 places we measured in Texas. By definition, that implies Richardson ranks as the #40 most expensive place in the Lone Star State.

For more reading on life in Richardson, check out:

365 out of 405
In Texas
4,128 out of 6,412
In America

Richardson Cost Of Living Vs. Texas

Six factors go into calculating the cost of living index in Richardson. Here is how it fairs on each of the criteria:

  • The Services index in Richardson is 113.

  • The Groceries index in Richardson is 97.

  • The Health index in Richardson is 77.

  • The Housing index in Richardson is 115.

  • The Transportation index in Richardson is 101.

  • The Utilities index in Richardson is 110.

Living Expense Richardson Texas National Average
Overall 110 92 100
Services 113 96 100
Groceries 97 93 100
Health 77 93 100
Housing 115 84 100
Transportation 101 92 100
Utilities 110 104 100
For more reading on cost of living around Texas, check out:
Richardson Cost of Living Vs. TX

Richardson, TX Housing Cost Breakdown

Housing swings affordability the most between places in Texas, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Richardson is $326,900.

  • The Median Rent in Richardson is $1,555.

  • The Median Income in Richardson is $87,720.

  • The Home Value To Income in Richardson is 3.7x.

  • The Rent To Monthly Income in Richardson is 0.21x.

Statistic Richardson Texas United States
Median Home Value $326,900 $202,600 $244,900
Median Rent $1,555 $1,146 $1,163
Median Income $87,720 $67,321 $69,021
Home Value To Income 3.7x 3.0x 3.5x
Rent To Monthly Income 0.21x 0.2x 0.2x
Search Homes For Sale In Richardson, TX
$326,900
Median Home Value
$1,555
Median Rent
$87,720
Median Income

Richardson, TX Costs By Category

Detailed Richardson Services Costs Vs. Texas

Item Richardson Texas
Shampoo $1.4 $1.06
Movie $11.58 $10.68
Bowling $21.11 $14.67
Haircut $17.97 $18.62
Beauty Salon $52.92 $39.05

Detailed Richardson Groceries Costs Vs. Texas

Item Richardson Texas
Ground Beef $4.07 $4.22
Fried Chicken $1.33 $1.39
Milk $1.98 $2.05
Potatoes $2.72 $3.29
Pizza $12.8 $10.62
Beer $9.91 $9.38
Toothpaste $2.33 $2.34

Detailed Richardson Health Costs Vs. Texas

Item Richardson Texas
Optometrist $125.0 $108.57
Doctor $68.0 $116.17
Dentist $75.75 $99.13

Detailed Richardson Transportation Costs Vs. Texas

Item Richardson Texas
Gasoline $2.12 $2.22
Tire Balancing $52.86 $50.07

Detailed Richardson Utilities Costs Vs. Texas

Item Richardson Texas
All Electricity $194.23 $167.67
Phone $185.48 $175.64

Richardson SnackAbility

8
/10
Overall SnackAbility
Jobs
8/10
Housing
9
Affordability
6
Diversity
9.5
Safety
7
Amenities
9.5
Education
8.5
Commute
8

Cost Of Living In Cities Around Richardson

The cost of living varies in the cities and towns around Richardson. Here's a quick look at the cost of living in the most populous nearby places:

  • Plano, TX has a cost of living index of 114, 1.0x Richardson.

  • Garland, TX has a cost of living index of 97, 0.9x Richardson.

  • Frisco, TX has a cost of living index of 120, 1.1x Richardson.

City Population Cost Of Living Vs. Richardson
Plano, TX 282,181 114 1.0x
Garland, TX 245,075 97 0.9x
Frisco, TX 193,140 120 1.1x
McKinney, TX 189,394 112 1.0x
Carrollton, TX 131,388 105 1.0x
Lewisville, TX 110,077 100 0.9x
Allen, TX 102,778 110 1.0x
Rowlett, TX 62,606 105 1.0x
The Colony, TX 43,489 102 0.9x
Coppell, TX 42,420 121 1.1x

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