Cost of Living in McKinney, TX
Updated November 2026 · Collin County · Dallas-Fort Worth-Arlington, TX metro area · population 210,600
Prices in McKinney are 6.8% above the US average (local index 106.8; the BEA index for the Dallas-Fort Worth-Arlington, TX metro area is 103.1), with local housing the biggest cost driver at 132.6; a single adult's modelled budget is about $3,061 a month and the median rent is $1,901.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects McKinney's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Dallas-Fort Worth-Arlington, TX metro area, unchanged.
McKinney price index by category, US average = 100: All items 106.8, Housing (rents) 132.6, Goods 102.8, Utilities 90.7, Other services 99.7
It is the 9th most expensive of the 79 Texas cities in our data. More expensive than 66% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 103.4 | 104.5 | 104.0 | 103.4 | 102.5 | 103.1 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for McKinney, TX
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,345 | $16,140 | 44% |
| Utilities | $265 | $3,180 | 9% |
| Food at home | $290 | $3,480 | 9% |
| Transportation | $641 | $7,692 | 21% |
| Health care | $350 | $4,200 | 11% |
| Clothing, personal care & supplies | $170 | $2,040 | 6% |
| Total | $3,061 | $36,732 | 100% |
2 adults · 2-bedroom · modelled estimate for McKinney, TX
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,691 | $20,292 | 34% |
| Utilities | $419 | $5,028 | 9% |
| Food at home | $536 | $6,432 | 11% |
| Transportation | $1,272 | $15,264 | 26% |
| Health care | $649 | $7,788 | 13% |
| Clothing, personal care & supplies | $336 | $4,032 | 7% |
| Total | $4,903 | $58,836 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for McKinney, TX
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $2,129 | $25,548 | 35% |
| Utilities | $511 | $6,132 | 8% |
| Food at home | $764 | $9,168 | 12% |
| Transportation | $1,685 | $20,220 | 28% |
| Health care | $605 | $7,260 | 10% |
| Clothing, personal care & supplies | $433 | $5,196 | 7% |
| Total | $6,127 | $73,524 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in McKinney
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $1,448 |
| 1 bedroom | $1,494 |
| 2 bedrooms | $1,879 |
| 3 bedrooms | $2,365 |
| 4 bedrooms | $2,797 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,901 |
| Median contract rent (excl. utilities) | $1,711 |
| Median home value | $471,800 |
| Owner costs with a mortgage | $2,763/mo |
| Median household income | $124,215 |
| Rent as % of renter income Moderate | 29.4% |
| Home value ÷ household income Affordable | 3.8× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in Texas
15.91¢ per kWh, August 2026
12-month change: +3.3% (from 15.40¢) · US 18.16¢
Average household uses 1,113 kWh a month in Texas ≈ $178/month. Source: EIA-861M (statewide average).
Regular gasoline
$3.58 per gallon, week of 2026-11-02
12-month change: +45.1% (from $2.47) · US $4.15
EIA weekly retail price survey.
Inflation in the South
Consumer prices in the South Census region rose +3.4% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in McKinney are 6.8% above the US average, $60,000 here has the buying power of about $56,200 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 106.8. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Allen, TX | 7 mi | 107.2 | $3,211 | $1,932 |
| Frisco, TX | 10 mi | 108.2 | $3,268 | $2,014 |
| Plano, TX | 11 mi | 106.0 | $3,146 | $1,841 |
| Wylie, TX | 14 mi | 110.5 | $3,074 | $2,189 |
| Little Elm, TX | 15 mi | 107.4 | $3,101 | $1,953 |
| Richardson, TX | 16 mi | 106.2 | $3,224 | $1,857 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Annapolis, MD | 106.8 | $3,357 | $1,860 |
| Goodyear, AZ | 106.8 | $3,271 | $1,956 |
| Manteca, CA | 106.8 | $3,162 | $2,065 |
| Buckeye, AZ | 106.8 | $3,208 | $1,963 |
| Lacey, WA | 106.7 | $3,314 | $1,870 |
| Riverside, CA | 106.7 | $3,305 | $1,914 |
Compare McKinney with another city
Frequently asked questions
Is McKinney, TX an expensive place to live?
McKinney has a local cost of living index of 106.8, which is 6.8% above the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Dallas-Fort Worth-Arlington, TX metro area (103.1) and adjusts housing to McKinney's own rents. It is 9.7 points above the Texas average. It is the 9th most expensive of the 79 Texas cities in our data. More expensive than 66% of the cities we cover.
How much money do you need to live in McKinney?
Our modelled estimate of basic monthly costs is $3,061 for a single adult, $4,903 for a couple and $6,127 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $64,100 in McKinney.
What is the average rent in McKinney?
The median gross rent (rent plus tenant-paid utilities) is $1,901 a month (Census ACS 2020-2024). By size: 1 bedroom $1,494, 2 bedrooms $1,879, 3 bedrooms $2,365. The typical renter spends 29.4% of household income on rent (moderate).
How much does a house cost in McKinney?
The median owner-estimated home value is $471,800, 3.8 times the median household income of $124,215 (affordable). Owners with a mortgage pay a median $2,763 a month in housing costs.
How much is electricity and gas in McKinney?
Texas residential electricity averaged 15.91¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $3.58 a gallon (Texas average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Dallas-Fort Worth-Arlington, TX metropolitan statistical area (BEA index 103.1) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 4845744 (McKinney city).
- Electricity: EIA-861M, Texas residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Texas, week of 2026-11-02.
- Inflation: BLS CPI-U South region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources