Cost of Living in McKinney, TX
McKinney is about 20% more expensive than the national average.
What Things Cost
Compared to the US average (100)
Census ACS 2024
Census ACS 2024
BEA RPP 2023
BEA RPP 2023
McKinney at a Glance
No state income tax. That saves a typical household thousands per year compared to states like California (13.3%) or New York (10.9%).
Sources: Census ACS 2024, Tax Foundation.
McKinney is one of the fastest-growing cities in America, a Collin County suburb north of Dallas that has transformed from a small Texas town into a booming city of 210,000. The cost of living is about 1.5% above the national average, with no state income tax. The historic downtown square has been beautifully preserved and developed into a dining and shopping destination that Money Magazine once called the 'Best Place to Live in America.' The economy benefits from the broader DFW job market, with corporate relocations (Raytheon's headquarters is in nearby Richardson) driving growth.
How People Get Around
Source: Census ACS 2024.
Who Lives Here
Source: Census ACS 2024.
Why People Move to McKinney
The historic downtown square is genuinely charming, with preserved buildings housing independent restaurants, shops, and a thriving weekend scene. The schools (McKinney ISD) are excellent. The no-income-tax advantage preserves high household incomes. The housing, while not cheap, offers significantly more space per dollar than coastal alternatives. The Heard Natural Science Museum and Wildlife Sanctuary provides unique nature access. For families relocating with DFW-area jobs, McKinney offers small-town Texas character with big-metro career access.
Neighborhoods
Historic Downtown McKinney is the walkable core with restaurants and shops around the courthouse square. Stonebridge Ranch is a master-planned community with golf and amenities. Craig Ranch has newer homes and the TPC Craig Ranch golf course. Eldorado Parkway corridor has commercial development and mid-range housing. The areas west of US-75 are generally newer. Tucker Hill is a New Urbanist development with traditional neighborhood design.
Things to Consider
Property taxes at 1.85% are high and represent Texas's main tax mechanism in lieu of income tax. On a $450,000 home, that is $8,325 per year. The commute to Dallas jobs can be 45-75 minutes during peak hours on US-75. The rapid growth has created traffic and infrastructure strain. Summer heat is intense. The city is north of the DFW core, which means some DFW amenities require significant driving. The historic character that draws people is concentrated downtown; most neighborhoods are typical Texas suburban development.
Frequently Asked Questions About McKinney
Not anymore. With 210,000 residents and rapid growth, McKinney is a mid-size city. However, the historic downtown square retains genuine small-town Texas charm. The tension between growth and character preservation is an ongoing community conversation. If you are drawn to McKinney for the small-town feel, act soon; the growth trajectory suggests it will continue to urbanize.
High. Texas has no income tax, so property taxes fund schools and local government. McKinney's effective rate of about 1.85% means a $450,000 home costs roughly $8,325 per year in property taxes. This is an ongoing annual cost that significantly affects the total cost of homeownership. Factor this into any comparison with income-tax states.
McKinney is about 35 miles north of downtown Dallas. In light traffic, the drive takes 35-40 minutes on US-75. During peak hours, 60-75 minutes is common. The drive to Plano or Richardson (where many corporate jobs are located) is shorter: 20-30 minutes. DART does not extend to McKinney, so driving is the only commute option.