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Oil, cowboys, and soaps may be the first thoughts when anyone mentions Dallas, Texas. Well, you’re right, but whatever ties you have with the city, you may not know of the exact cost of living there. It may not be as crazy expensive as New York City, but what is it like living in Dallas?
In this guide, we take a deeper look at the cost of living in Dallas.
Home Prices in Dallas
This applies to those thinking of a move to Dallas. Of course, you’ll need a home, so the immediate question is “how the prices range?” If you’re looking for a one-bedroom house In Dallas, you’ll need to part with at least $217,000. This is according to trulia.com. On the other hand, if you need something big, say a two-bedroom home, you’re looking at no less than $358,000. Do you need more space? A three-bedroom home will cost you anything from $444,000 while a four-bedroom house averages at $798,000.
Rent in Dallas
Maybe you just want to rent an apartment since you don’t have the money to buy a home. If this is the case, you’ll have to prepare $992 for a studio apartment. A one-bedroom apartment will cost you $997 every month. A two-bedroom apartment will see you set aside $1,433 each month in rent while a three-bedroom apartment costs $1,824 on average. This data is sourced from myapartmentmap.com. The rent prices may not be the same on the ground, but it gives a clear picture of what to expect.
While in Dallas, expect to pay up to $140 if you intend on living in a 915 square-foot apartment. This will cover the basics including garbage, water, heating, and electricity. The Internet is another expense you may want to incur, and this will come at an extra cost of $45. This is cheaper compared to the national average by at least 6.5 percent. You can check out the best internet providers in Dallas on Digital Exits.
Transportation in Dallas
You’ll need a car to move around in Dallas. However, if you don’t own one or would like to save, you can use the DART, Dallas Area Rapid Transit. You have the option of choosing a monthly pass for either local or regional service. The former goes for $80 while the latter averages at $160. You can also choose a 7-day pass which will cost you $25 and $50 for local and regional services respectively. If you prefer to live by the day, you have the day pass where you’ll pay $5 and $10 for local and regional services in that order.
If you have a car, a gallon of gas will cost you $2.10 in Dallas. In addition to fuel expenses, you’ll have to pay $50.75 as registration fees to the DMV and $10 as a surcharge.
You’ll spend about $10 every day per person which translates to $319 every month. This will cover the basics including basic groceries. Nevertheless, if you want to eat out, prepare $11 or $44 for a three-course meal at a mid-size restaurant.
Still Looking to Move to Dallas?
If you are, it’s essential to analyze your financial situation to help you plan in advance. You can also seek the services of a financial advisor who can offer guidance while moving to Dallas.