What are avg monthly expenses in Plano, TX?

[dallas_cowboy]

Originally Posted by meet_jasper

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Hi frenzyrider, thanks for taking time to response. I do not live near bay area. I live in sacramento (capital of California) which is far cheaper than bay area and Texas ( considering plano, allen, richardson, frisco and forth worth). My rent is $900 for 2BHK ( 930 sq feet ). Water, Sewer and Trash charges are included. I pay electricity $60-$70 every month (sometimes less). Note this is a not some cheap type of apartment, it is very good apartment with gym, pool and close to school. I thought Plano might be similar or cheaper than Sacramento but I was wrong. I think lots of companies are moving there and that is why real estate is booming there. I can understand that but they have not enhanced existing apartments. I read reviews and most of the apartments have bed-bugs, roaches and other insect problems. Owners try to rip off their renters because they are good at it. After reviewing my budget and reading reviews from multiple websites about multiple apartments. I have decided not to move. I am sure Texas has very kind and magnanimous people and I wanted to be part of them but I think its not the right time for me.

Thanks again everyone.

sounds like you have made a premature decision. When you compare Sacramento with Dallas it's more like comparing a small city vs metropolitan city. Apartment review sites show only complains from residents and no apartment complex will show 100% positive reviews. If they do then owners are self-promoting their community with fake reviews........ as other members stated you can judge the city after you spend some time living, otherwise your decision will be like judging a book by its cover not by the content.

[TheOverdog]

I can believe that Plano and Sacramento are on par in terms of your basic expenses, with houses plus state income tax being more expensive in Sacramento and property tax being more expensive in TX and salaries probably pretty similar, though one could assume Dallas would have more jobs and more different types of jobs.

$900 for a 2bedroom apartment is a pretty good deal. Most of my apartments in Dallas and Plano were more than that and then utilities were added on top.

[meet_jasper]

I think I must give a try. Thanks again to all of you.

[TX75007]

Originally Posted by meet_jasper

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Thanks ! I have now cancelled my plans to move to plano. Many friends suggested me to move to Plano but seems like there are not so much benefits. It is really really costly for avg income. California is way better than Texas.

Thank you all for your suggestions.

I don't think you are doing a careful comparison.

Check your California income tax statement for the benefits.

The cost of living across the board is about 10% cheaper in TX not counting the income tax savings.

[taroberts]

For the life of me I can't see how CA could be cheaper than Plano. If so I must be living in the wrong place. I absolutely agree that you probably shouldn't live in Plano if you don't have kids. The property taxes are insanely high but I happily pay them knowing my kids will go to a level of quality of school that I could not afford had I lived anywhere else in the US. So I will happily live in Plano until all my kids finish school.

[meet_jasper]

Originally Posted by taroberts

For the life of me I can't see how CA could be cheaper than Plano. If so I must be living in the wrong place. I absolutely agree that you probably shouldn't live in Plano if you don't have kids. The property taxes are insanely high but I happily pay them knowing my kids will go to a level of quality of school that I could not afford had I lived anywhere else in the US. So I will happily live in Plano until all my kids finish school.

Like I said before, I don't have kids. I live in apartment so no property taxes and Sacramento is cheaper than plano, tx.

[TR95]

Originally Posted by meet_jasper

Like I said before, I don't have kids. I live in apartment so no property taxes and Sacramento is cheaper than plano, tx.

This is likely very accurate. There would also be very few reasons to live in Plano if you don't have kids. For the income tax argument, below is a table, and when people say it is an automatic pay raise of 10%, it would take an income of over $300k for that to be true. Also, even if buying a home it could still be cheaper in Sacramento than many areas in Plano as housing hasn't fully recovered in Sacramento and Plano and much of DFW has increased significantly in the last 3 years.



2013 California Tax Rate Schedules
Schedule X — Single or married/RDP filing separately
If the taxable income is
Over But not over Tax is Of amount over
$0 $7,582 $0.00 plus 1.00% $0
$7,582 $17,976 $75.82 plus 2.00% $7,582
$17,976 $28,371 $283.70 plus 4.00% $17,976
$28,371 $39,384 $699.50 plus 6.00% $28,371
$39,384 $49,774 $1,360.28 plus 8.00% $39,384
$49,774 $254,250 $2,191.48 plus 9.30% $49,774
$254,250 $305,100 $21,207.75 plus 10.30% $254,250
$305,100 $508,500 $26,445.30 plus 11.30% $305,100
$508,500 AND OVER $49,429.50 plus 12.30% $508,500

[caramaddie]

Originally Posted by JoeSiczpak

4) People boast about TX lack of income tax. However, the property tax is egregious and unfairly benefits corporations at the higher expense of the homeowner. Moreover, many neighborhoods require questionable HOA fees. Maybe you don't mind renting, but to some, it is a HUGE waste of money.

Your mileage may vary.

It depends on what you make. The more you make, the cheaper the property tax in this state seems.

[coltseaver]

I lived in apartments for years and don't ever remember paying property taxes or ever having outrageous utility bills. Electricity maybe depending on your plan and if you run the AC all the time.

A 937sq ft. apartment at Legacy Villiage is $1195/month. Off the top of my head that was the highest end complex I could think of. $500/month for electricity/water/gas/internet fair? Basic weekly costs (gas, groceries, etc.) will be slightly cheaper in DFW. (Maybe your works covers internet/cell??)

Based on your income you save an average of $700 a month just by moving to Texas from State Income Tax alone. Simple math says you would have a bigger apartment in a ridiculously high end area of Plano all utilities covered for about $100 more than just your rent is now.

The reality is the SOL is pretty similar. You don't have to pay state income tax in Texas. I can't imagine anywhere in cali being cheaper, but all the data suggests your scenario would be relatively the same. It's probably best you make your decisions based on factors other than finances. $90k/year is more than enough to be comfortable even in Plano.