Economy in McKinney, Texas

McKinney, TX is a great place to call home due to its strong economy, vibrant culture and pleasant weather. Not only does it have a lower unemployment rate than the nation as a whole, but the average rent for a two-bedroom apartment is only $1,950 per month – which is lower than the national average of $1,430. The grocery cost index in McKinney is also higher than the national average at 102 versus 100. This makes it an attractive option for people who want to enjoy the benefits of city life without paying too much for it. The city is home to many companies such as Encore Wire Corporation and Raytheon Technologies Corporation that offer jobs with competitive salaries and benefits. In addition, there are plenty of restaurants, museums and entertainment venues to explore in McKinney. All in all, McKinney offers an affordable cost of living with lots of activities and amenities to keep its residents entertained.

McKinney has an unemployment rate of 6.0%. The US average is 6.0%.

McKinney has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 54.8%, which is higher than the US average of 33.5%.

Tax Rates for McKinney
- The Sales Tax Rate for McKinney is 8.3%. The US average is 7.3%.
- The Income Tax Rate for McKinney is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for McKinney
- The average income of a McKinney resident is $33,941 a year. The US average is $28,555 a year.
- The Median household income of a McKinney resident is $106,437 a year. The US average is $69,021 a year.