Austin is the most expensive city to live in Texas. The population of Austin is about 1 million people. Austin has the highest rental rates for one and two bedroom apartments in Texas. One-bedroom apartment rentals average $1,590 per month (rental prices up 28.20% year-on-year). The second place is occupied by the city of Plano. Renting an apartment in Plano will cost a little less than in Austin. The average cost of renting a one-bedroom apartment in Plano is $1,550 per month. The top five most expensive cities in Texas also included: Irving ($1,470/month), Dallas ($1,450/month) and Fort Worth ($1,270). In all of the above cities, renting one-bedroom apartments has risen in price by an average of 15-30%.