Cost of Living in Richardson, Texas
In Richardson, the median household income is $98,111 and the median gross rent is $1,857/mo, with a median home value of $431,400. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $98,111
- Median gross rent
- $1,857/mo
- Median home value
- $431,400
- Population
- 118,731
How Richardson compares to the Texas average
| Measure | Richardson, TX | Texas statewide | Difference |
|---|---|---|---|
| Median household income | $98,111 | $78,476 | +25.0% |
| Median gross rent (monthly) | $1,857 | $1,403 | +32.4% |
| Median home value | $431,400 | $283,800 | +52.0% |
Statewide, Texas prices average 97.1 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Richardson
- Salary needed for median rent
- $74,280
- Rent burden at median income
- 22.7%
- Est. affordable home price
- $357,902
So that $1,857/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Richardson is $431,400 — +20.5% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Texas cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.