Are you planning a move to Frisco, TX and wondering if it is an expensive place to live in? We’ll break down the cost of living in Frisco by answering the following key questions - what is expected cost of living Frisco, what is the median income in Frisco, what is a good livable salary in Frisco, and what are the average rent and home prices in Frisco.
Is Frisco expensive to live in?
Frisco is part of Dallas-Plano-Irving Metro Div. metro area, which is ranked 73 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Frisco is estimated to be 103% of the national average making it an average US city.
Total monthly expenditure you can expect to incur depends on the cost of housing, food, utilities, transportation, healthcare, other miscellaneous goods and services. Note that your household composition (single or married, number of kids) and home ownership status (renting vs. owning) might affect your monthly expenses.
Frisco, TX is ranked
73/273 cities in the US
estimated to be 103% of the national average making it an average US city
How do Frisco prices compare to other US cities?
Frisco is ranked 73 out of 273 cities across the US in terms of cost of living. The cost of living in Frisco is 103% of the national average.
Compare Frisco to:
U.S. Average
| Category | Frisco | U.S. Average |
|---|---|---|
| Milk (1/2 gal) | $4.65 (+0.08%) | $4.65 |
| Bread | $4.08 (+4.49%) | $3.9 |
| Hamburger | $4.76 (-12.51%) | $5.36 |
| Large Pizza | $11.25 (-7.04%) | $12.04 |
| Chicken (2 pcs) | $4.85 (-1.45%) | $4.92 |
| Doctor Visit | $138.85 (+5.27%) | $131.54 |
| Dentist Visit | $133.5 (+14.87%) | $113.65 |
| Rent | $1,569.8 (+6.35%) | $1,470.04 |
| Mortgage | $2,073.37 (-10.15%) | $2,283.8 |
| Gas | $3.02 (-10.72%) | $3.35 |
| Energy Bill | $219.56 (+12.11%) | $192.98 |
Cost of Living compared to national average
3% higher
Housing prices compared to national average
4% lower
Cost of Living Calculator for Frisco
Get an estimate of income required to live comfortably in Frisco. Our cost of living calculator will give you an estimate of your expected expenditures on food, utilities, transportation, housing, healthcare, and more. Simply pick your marital status and family type from the drop-down. The calculator will give you a breakdown of your monthly spends on food, utilities, transportation, housing, healthcare, and other miscellaneous items to help you determine your cost of living in Frisco. Try it now.
Your required pre-tax income
$0
Your required post-tax income
$0
| Category | Expenditure |
|---|---|
| Food | $0 |
| Utilities | $0 |
| Transportation | $0 |
| Healthcare | $0 |
| Housing (Rent / Mortgage) | $0 |
| Other Housing | $0 |
| Miscllaneous | $0 |
| Total Annual Expenditure | $0 |
What is a livable salary in Frisco?
The median household income in a city certainly helps gauge the cost of living. The median household income in Frisco is $134,210, which is 99% more than that of the state. The median income for an individual is $69,902, which is 86% more than that of the state.
The minimum salary you need to live in Frisco is the sum of your daily expenses (groceries, utilities, transportation, entertainment), your monthly housing-related costs (rent, mortgage, insurance, maintenance), any debt expenses (monthly interest payments and principal paydowns), as well as your savings and investment goals.
A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax).
Understanding the expected costs in Frisco can help you determine whether a given salary is a livable salary. For instance, if you know the typical housing costs in Frisco, you can use widely followed simple rules to determine if you can afford it on your salary. A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax). Another good rule of thumb is the 50-30-20 rule which says 50% of the net income (income after tax) should be spent on needs, 30% on wants, and 20% on savings and investments. So plan to ensure that your net income covers your needs and wants, so that you can live comfortably in Frisco, TX.
Median Household Income
$134,210
Median Individual Income
$69,902
What is the average rent in Frisco?
Housing is generally the biggest monthly cost that you would need to account for. The average rent in Frisco (located in Dallas-Plano-Irving Metro Div.) metro area for a 2-bed home is $1,569, which is 6% more than the average rent across the US. However, this average takes into account both metro and suburban areas. So, the costs may go up or down depending on which neighborhood you eventually decide to stay.
Rent compared to national average
6% more
What is the median home price in Frisco?
The median home price in Frisco is $475,000 with a median price per sqft of $195.
The cost of living index for housing estimates the cost of housing in Frisco to be 95.9% of the national average. This makes it an average US city.
Median Home Price
475K
Median Price/Sqft
$195
Average Rent
$1,569
Housing Index
95.9%
What is a cost of living calculator?
A cost of living calculator helps you to assess how much you will need to make in order to live comfortably in a specific city. It takes into account various expenses that you will make in your daily lives (on housing, food, utilities, transportation, entertainment, etc.) and helps you determine a livable salary. The prices of goods and services vary in different cities, and hence having a cost of living index or calculator can make the decision to move easier by allowing you to directly compare one city with another.
About the cost of living data
- To calculate the cost of living, data has been taken from C2ER (Council for Community and Economic Research)
- The Cost of Living Index takes into account the data from 273 cities across the US
- The Cost of Living Index and hence, the ranking reflects cost differentials for professional households in the top income quintile
Explore all homes for sale in Frisco, TX
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Greetings, real estate enthusiasts! I'm thrilled to delve into the intricate details of the real estate landscape, particularly focusing on the cost of living in Frisco, TX. My extensive background in real estate analysis and market trends positions me as a reliable source to dissect the information provided in the article.
Let's begin by addressing the key components covered in the piece:
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Cost of Living in Frisco:
- According to the Council for Community and Economic Research (C2ER), Frisco is ranked 73 out of 273 cities in the US in terms of the cost of living.
- The estimated cost of living in Frisco is 103% of the national average, categorizing it as an average US city.
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Comparison with Other US Cities:
- Frisco's cost of living is 3% higher than the national average.
- Housing prices in Frisco are 4% lower than the national average.
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Detailed Cost Breakdown:
- Various everyday items are compared to the national average, including groceries, utilities, transportation, and healthcare.
- For example, rent in Frisco is $1,569, which is 6% higher than the national average.
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Median Household Income:
- The median household income in Frisco is $134,210, 99% higher than the state average.
- The median individual income is $69,902, 86% higher than the state average.
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Housing Metrics:
- The average rent for a 2-bed home in Frisco is $1,569, 6% higher than the national average.
- The median home price in Frisco is $475,000, with a median price per square foot of $195.
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Cost of Living Calculator:
- A tool is provided to estimate the income required to live comfortably in Frisco, considering various factors such as marital status and family type.
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Affordability Guidelines:
- Rules of thumb, such as the 28% rule for housing affordability and the 50-30-20 rule for budget allocation, are introduced to guide individuals in assessing their financial capability in Frisco.
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Cost of Living Data Source:
- The information is derived from C2ER (Council for Community and Economic Research), which compiles data from 273 cities across the US.
In conclusion, Frisco, TX, presents itself as a city with a moderate cost of living, offering a detailed breakdown of expenses and income metrics. The provided tools and guidelines aim to assist individuals in making informed decisions about their move or residence in this dynamic real estate market. If you have any specific questions or need further insights, feel free to inquire!
