Hi JJJ,
I know you asked for "cost of living" but having lived in Frisco and Henderson I thought I'd provide a bit more info. I lived in TX for 48 years and have lived in Henderson since March and I can say without doubt that we've found our forever home, but what is great for us may be different for you. I know my response is a bit long but I wanted to answer thoroughly since this is a big decision.
As you probably know, both Texas and Nevada have no state income tax. However, from a property tax perspective Frisco is much higher than Henderson. For example; our house in Frisco was appraised at $310k, our annual property taxes were about $5,000. Our house in Henderson is appraised at $359k and our annual property taxes are $2,850.
Housing prices are comparable, gasoline, food, internet services, clothing, restaurants are all comparable. Electricity can be lower in Henderson depending on what service provider you choose in Texas.
Schools -
Frisco - my son is grown and gone so my info on schools is anecdotal. Frisco schools are VERY GOOD, but you need to be careful because part of the city of Frisco is in Lewisville ISD which is not as good.
Nevada schools overall are said to not be as good as most other parts of the country. I can't comment on this but I do know that some Henderson schools are very good, you just need to do your research on where the best schools are in the town. We live in Seven Hills and our elementary is rated "Exemplary". You do not want your child in the Las Vegas or Clark County school however.
Quality of Life - I realize this next part will be completely subjective but I wanted to share my observations.
Frisco Overall - Very family oriented but it can also be materialistic. There is a lot of disposable income in Frisco, so don't even try to "keep up with the Joneses". There is also a lot to do there. Soccer is huge for the kids, there are lots of parks, walking trails, biking trails, etc. It's a very progressive town from an 'outdoor activities' perspective. There are too many restaurants to count, but there isn't much 'fine dining' if that is your thing. Dallas is close if you want 'culture'. Symphony, dining, museums, etc. But compared to Hong Kong, Dallas may be a cultural wasteland for you
Frisco weather - Summers are blazing hot. July and August will have many days over 100 degrees and the humidity is high (not as bad as Houston, but very noticeable). Spring and fall are lovely, in winter there will be cold days, but then again Christmas day can be 70 degrees with kids riding their new bikes. BUGS - and yes I shouted that on purpose...mosquitoes, flies and gnats will be bad enough that you can't eat outside on your patio comfortably. There are fleas and ticks and chiggers, oh my.
Henderson Overall - the part of Henderson we live in 'feels' very much like Frisco. Nice houses (almost all Mediterranean style which we love), tons of walking and biking trails, lots of the same restaurants, very nice people, but I haven't noticed the same level of materialistic-ness that is the norm for Frisco. The big difference for us, and what we LOVE about Henderson, is that we're within an hour of Mt. Charleston where there is amazing hiking in the summer and skiing in the winter (skiing isn't stellar, but then I'm not picky) and we're within four hour's drive to LA, Zion National Park, the Grand Canyon, Bryce Canyon....basically we're a short drive to some great outdoor activities. And I've left the best for last: we don't gamble, however we love nice restaurants and great shows. Since we've been here we've seen Cher, Barry Manilow, Santana, and several Cirque shows. And since we're locals we get discounts on the shows.
Henderson weather - just like Dallas, in July and August it is HOT. And the temps here in the desert average about 5 - 10 degrees hotter than Dallas, but the humidity is very low. I scoffed at the low humidity factoid before moving here, but honestly when it is 110 in the desert, as long as you're not in the direct sun it is not uncomfortable. Also in the summer the night-time temps stay high (around 80), but in the spring and fall the weather is gorgeous. It also gets cool here in the winter, but I can't comment personally because we haven't been through a winter here yet. BUGS - there are almost no bugs. We regularly have drinks and dinner by the pool and there may be an occasional fly but there are virtually no mosquitoes (not enough water for them) and there are no fleas or virtually no ticks. You can pick up ticks on the mountain, but what I'm trying to say is that your child can play outside without having to apply bug spray before going out.
I'm sure I've missed some big points, but I'm running out of info that is 'off the top of my head'. If you have any questions please feel free to ask and congrats on being able to FIRE! We hope to do so in the next few years as well.
