Essential Things to Know About the Cost of Living in Dallas, Texas
If you’ve decided to move to the third-largest metropolis in Texas, knowing the cost of living in Dallas will be very useful for you to plan your budget and carry out the relocation without any negative surprises. We’re here to give you all the necessary information you need to know money-wise.
Many things might have prompted you to relocate to this fantastic place: warm weather, a vast number of restaurants, delicious barbecue, friendly locals, no state income tax, job opportunities, or numerous museums, galleries, bars, and parks. It doesn’t really matter which one it is since it all comes down to whether you can afford to live the life you want in the so-called Big D.
What Is the Average Cost of Living in Dallas, Texas and How Much Money Do You Need to Live Comfortably?
To have a complete picture of what moving to Dallas is going to look like, you’d have to get a clue about the everyday expenses as well. Compared to the national standard, the cost of living in this place is 1% lower.
The expected costs for a family of four are around $3,000, and a single person will spend a bit more than $850 a month, excluding rent. It’s near the national average, but keep in mind that, as anywhere else, the answer to the question of How much money do you need to live comfortably in Dallas differs based on factors such as your lifestyle choices, career, median salary, and the real estate market in the area.
Furthermore, Dallas is cheaper than its fellow major US cities such as San Francisco, Washington DC, New York, Miami, Chicago, and Boston. The expenses for food, energy, healthcare, and housing in the area are below the national average.
Compare the Cost of Living in Dallas TX to the City You Live In
To have the most transparent image of the expenses that await you, it would be best to compare them to those you have now. With the price ranges we’ll provide you with in this article, you’ll be able to see if your next home city is more expensive than the place you live in right now, and you’ll see what your calculator and your wallet say about that.
What Are the Housing Prices and Other Major Expenses?
The most important reason why the cost of living index is favorable in this city are the housing prices. Almost 60% of people rent, and 40% own the place they live in.
The cost of renting a one-bedroom apartment in some of the best neighborhoods in Dallas downtown is around $1,500 per month, and outside of the center, it drops to $1,000. On the other hand, a three-bedroom home in the center is worth almost $2,800 and $1,900 outside of the center. According to Niche, median rent would be $937, which is slightly higher than the nationwide figure.
Renting an apartment is cheaper in this city than in Austin or Fort Worth, but a bit more expensive than Houston and San Antonio.
In case you want to buy real estate, data shows that the price per square foot for a centrally-located apartment is less than $270. Outside of the center, it would be around $150. Consider checking out the ten house hunting tips you need to know about before you start searching for your own place.
What Are the Costs of Utilities?
Essential utilities like electricity, heating, cooling, water, garbage, for a 915 square foot apartment are $150, which is less than the national average. One minute of prepaid mobile tariff local with no discounts is $0.15, and the Internet will cost you a bit less than $70 a month.
Is Food Expensive Compared to Other Texas Cities?
We compared the prices of groceries in some of the prominent TX cities. The data we compiled shows that prices of groceries in Austin, San Antonio, Fort Worth, and in Arlington are higher than in Dallas. The only major city that has lower prices of food is Houston.
If you want to have a meal in an inexpensive restaurant, the bill would be around $15. Lunch for two people in a mid-range restaurant would be $50 for a three-course meal. A McDonald’s combo meal costs $7.50, while a 12-inch Pizza Hut pizza is around $9.
Prices in grocery stores are also affordable, so for a quarter-gallon of milk, a fresh loaf of bread, and twelve eggs, you’ll pay a bit more than $5, respectively. As for fruit, two pounds of apples are around $3.5, the same quantity of bananas costs $1.3, and oranges are about $3.
Will You Be Able to Find a Good Affordable School?
With 230 schools and approximately 157,000 students, Dallas Independent School District is home to two of the best public high schools in the country – Yvonne A. Ewell Townview Center’s School of Science and Engineering and School for the Talented and Gifted. There are also 94 private, 66 private elementary and 28 private high schools with an estimated private high school tuition of $15,000 per year.
Top-rated public schools are also Coppell High School, Plano West Senior High School, and Highland Park High.
How Transportation Affects the Dallas Cost of Living?
The commute time is 25.8 minutes, which is 2 minutes short of the American average. Most people drive their car to work, some carpool, and the lowest proportion of people work from home or use public transit
Transportation in this Texas metropolis is 1% cheaper than the national average. A one-way ticket for local public transport is $3, the regular price for a monthly pass is $96, and a gallon of gasoline costs $2.50.
You can actually get around without driving a car because this community is home to the country’s most extensive light rail system. The DART or the Dallas Area Rapid Transit system consists of a bus and connecting train system that links downtown and the surrounding suburbs, and it’s continuously expanding. If you’d rather avoid public transportation, find a moving company that provides auto transport and ship your car to your new destination.
What Is the Tax Rate?
Moving to a big city requires some insight into the tax system. This city does not have a state income tax, or a local income tax, which is a huge benefit to your budget. The general tax rate is 8.25%, so the total sales tax breakdown is the same number – 6.25% goes to the state, 1% to the city, and 1% for DART.
The lowest possible tax rate is 6.3%, so your tax depends on the zip code you live in. The property tax rate is $0.7 per $100 of the assessed valuation. The tax rate may change depending on the type of purchase, and you will have to pay the property tax. If you decide to buy a house, you will need to pay a real estate transfer tax, too. There’s also a tax calculator that may come in handy if you get lost in all the numbers and calculations.
How Much Do You Need to Set Aside for Healthcare?
In case you need to go to the doctor’s, one visit would be $120, and you’ll pay a dollar less for a dentist’s appointment, on average. The price for an optometrist visit is around $90.
According to the data from Numbeo, the skill and competency of medical staff and speed in completing examinations and reports are highly rated, as is the equipment for new diagnosis and treatment. People are also satisfied with the friendliness and courtesy of the staff, as well as the convenience of location for them.
What Are the Entertainment Costs Compared to Other TX Cities?
Big D is known for its professional sports teams that compete in major leagues, and people are crazy about them. They have their football, baseball, golf, hockey, basketball, and even soccer clubs. If you love sports, this will be the best destination for you. Tickets can be somewhat expensive, but you can always get discounts online. The regular price for a Cowboys game is around $100 for the season.
If you’d like to play some tennis for an hour on the weekend, you’ll pay $3, which compares to $10 in Houston. One seat in the cinema would be $12, but you’ll pay $2 less in Arlington. Going to yoga classes would be somewhere in the region of $18, while Houston has the same offer for $2 more.
There is also much free stuff to do over the weekends, like visiting the Dallas Comedy House, going to the Kimbell Art Museum, Dallas Museum of Art, or to the Crow Museum of Asian Art. Parks are always a good option for free fun. You can go to Klyde Warren Park, which offers everything from daily fitness sessions to children’s entertainment, musical performances, and film screenings.
What Is the Average Income in Dallas and the Available Job Opportunities?
Now that you know how much life in Dallas costs, you’re probably wondering whether you’ll be able to afford it. According to Niche, the median household income is around $50k, which is slightly below the national level of $55k. On the other hand, the data from Numbeo shows that the expected monthly salary after tax is about $4,600, which is 7% higher than in Austin and 135 higher than in Houston.
Many highly educated people in their twenties or thirties with undergraduate or graduate degrees choose to live here and start their careers. Since the best local industry is technology, Dallas is sometimes called The Silicon Prairie. Moving to a new state requires having a steady source of income, so it would be good to know how to get a job before you move there.
The most popular occupations are project managers, operations managers, and software engineers, which pay between $41,000 and $125,000 per year.
The unemployment rate in Dallas is 5%, which is 1% below the national level. The income per capita in Big D is almost $30,000, which is 7% higher than the Texas standard and on par with the national standard.
The Big D has also topped the Forbes list of the best cities for good jobs, followed by Houston, Fort Worth, and Austin. This prestigious title is mostly due to the diverse sources of its job growth. It has had a double-digit percentage job growth since 2012 in almost every industry that Forbes took into account: from information to construction, energy, finance, professional and business services. This community is thriving because it has a high-value proposition, economical housing, a good climate, low taxes, and many cultural amenities, apart from the Cowboys.
Don’t Forget to Include Moving Costs in the Cost of Living in Dallas Texas
Bear in mind that you’ll be faced with moving costs as well. Relocating out of the state can be a significant expense if you decide to hire moving services, or use their professional packing services. Changing homes with the help of professional Dallas movers will take up a portion of your moving budget, but you’ll know that the move will be carried out as safely as efficiently as possible.
A couple of tips for packing quickly could be useful in a situation where you choose to pack yourself. If you don’t find a spot, you might need to rent a storage unit until you find a good place to rent or buy. All of those expenses should be calculated into the budget. Once you add up all of that, you’ll have a real amount in your head, and you’ll know if the Big D is the right place for you.