North Texas city tops nationwide list for cost of living increase this year.

Plano city is at the top of a list for cost of living increases this year. Dallas is 3%% more expensive than the national average.

Another report places a city in North Texas at the highest point of a nationwide list for the cost of living increases this year.

The financial technology company SmartAsset looked at data from 237 areas in the United States.

It found Plano‘s cost for many everyday items file is currently 122. That is up almost 10 focuses from last year and means Plano is 22% more costly than the national average.

Dallas is at 103, or 3% more costly than the national average. Austin‘s list of 101 is down from a year prior.

Plano Mayor John Muns said he was surprised by the report.

“In the grand scheme of things, we’re not a lot different than any of the communities around us and we’ve all experienced inflation over the last several years. And so, whether it be housing or groceries or gas, we’ve all experienced the same thing,” he said.

The report expressed that most of Plano’s expense increments came through lodging, medical care, labor, and products other than food.

“We obviously have a housing shortage. Plano no longer has a whole lot of available land left to do green field developments like other cities around us,” the mayor said. “The demand is always still there, and yet we don’t have the inventory that make it available for those to buy a new home or a starter home.”

 

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