Quick facts: Plano, TX

Quick Facts

99.5
Cost of Living
below US average
289,547
Population
20.56
Crime Rate per 1000
below US average
$105,679
Median Income
above US average
$450,000
Median House Price
above US average
$2074.24
Average Rent
above US average
7%
Poverty Rate
below US average
3.9%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $105,679.

🏠

Income Needed to Buy

βœ— Stretch
$141k/year
Based on $450,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $141k vs median $105,679
🏒

Income Needed to Rent

βœ“ Affordable
$89k/year
Based on $2074.24/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($105,679) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Plano, TX

Plano, Texas, is a vibrant city located in the Dallas-Fort Worth metropolitan area. Known for its affluent lifestyle, Plano boasts a strong economy driven by a diverse mix of industries, including technology, finance, and healthcare. It has a population of around 290,000 residents, making it one of the largest cities in Texas. Plano is recognized for its exceptional public schools, making it a desirable location for families. The city features an array of recreational parks, golf courses, and several miles of trails for outdoor enthusiasts. Its thriving arts scene includes the historic downtown area, which hosts various cultural events and festivals throughout the year. Home to several major corporate headquarters, such as Toyota Motor North America and J.C. Penney, Plano benefits from a robust job market. The city's diverse dining options range from local favorites to international cuisines, catering to all tastes. With a combination of modern amenities, a strong sense of community, and access to Dallas's urban offerings, Plano is a quintessential example of a dynamic suburban city in Texas.

πŸ” Search & Compare Places

First Location πŸ“