Relates: Best High-Rise Apartments in Dallas, TX
Dallas’ wide assortment of neighborhoods cater to every lifestyle. Whether you prefer to live by nature near the Katy Trail or White Rock Lake, or you want a little culture in Victory Park or Deep Ellum, there’s a spot for you here in this diverse city. If you’re considering a move here, it helps to know what to expect about the cost of moving to and living in Dallas.
Already decided Dallas is the place for you? Contact AptAmigo for help finding the perfect Dallas apartment. We match you with buildings that meet your criteria and can even provide transportation to the tours—all for free!
Cost of Living in Dallas
For such a big city, living in Dallas comes with tangible financial benefits. With no state or local income tax, you’ll take home a larger portion of your paycheck. Plus, if you’re moving from a big city, such as San Francisco or New York, you could see an 80%+ reduction in expenses. A word of warning though: Dallas and its surrounding area provide so much to do and explore, you may need to add a few budget categories to cover all the fun. Here’s what your expenses might look like when you move to Dallas.
Average Rent in Dallas
Average Rent = $1545 for a 1-bedroom
Rents range widely across the city, from below average (starting around $1100) to well above average (climbing to $2900). Factors for pricing include the building location, available amenities, apartment size, unit upgrades, and more. In parts of town, such as the Bishop Arts District or Deep Ellum, you’ll pay more due to the popularity and convenience of living in a walking area. Uptown affords some less expensive options further removed from the city center. You can use our guide to figure out what you can afford to pay for rent.
SEARCH: Apartments Under $1000 Per Month
Price of Utilities in Dallas
Average Utilities Costs = $230
A 915 sq ft apartment in Dallas will average $168 per month for electricity, heating & cooling, and water. In addition, the average internet plan comes in at around $62 per month. Together, you should plan on spending $230 per month for utilities. Remember, Texas gets HOT in the summer, and your utility costs will probably fluctuate quite a bit during those months when you run the A/C nonstop.
Food & Dining
While Dallas overall has a 2% higher cost of living versus the national average, grocery costs are about 5% less than average. How much to budget depends on how often you cook at home versus eating out. Meal delivery services are widely available, but can add hidden costs to this budget category. If you want to go out, a beer in the local pub will ring in at about $5.50 and a meal for two at your average restaurant will set you back around $50. For starters, we recommend budgeting about $250 for groceries, if you plan to mostly cook at home.
Average Salary in Dallas = $72K Annually
Dallas is a city of opportunity, with jobs in many industries available. Whether you work as a software engineer, project manager, or financial analyst, with big companies such as Southwest Airlines, Texas Instruments, and JP Morgan Chase around, you’ll find a salary that honors your experience and affords you a comfortable living in Dallas.
Total Average Cost of Living
Total Estimated Cost = $2025
With the average one-bedroom apartment and the addition of utilities and groceries, you should budget a little over two grand a month for basic expenses. Keep in mind, we didn’t factor in the costs of other important budget categories, such as transportation, entertainment, or childcare, which can vary widely depending on each person’s needs. Adding these categories can significantly raise your monthly expenses. It’s important to get a full picture of your individual budget before calculating your total expenses.
Advice for Moving to Dallas
Should you Rent or Buy?
The Dallas housing market is competitive, but offers great options across the pricing spectrum. The median price of a home in Dallas in 2021 was $385K, up 8.5% from the prior year. Rent prices also increased, with a growth of 15.5% from September 2020 to September 2021. When choosing between renting and buying, here are some important factors to consider:
- How long you plan on living in Dallas
- Potential growth of your household (spouse, kids, pets)
- Your income and ability to afford rent versus mortgage payments
- Your ability for a down payment for renting versus buying
- Cost of homeownership, including maintenance and utilities
- Lack of equity building when renting
Everyone’s situation is different, and the best way to decide between renting or buying in Dallas is to crunch the numbers yourself (or with help) and see what benefits you most in the long run.
Making a move—be it across town or across the country—is a daunting and potentially complicated process. Start with our Ultimate Moving Checklist to ensure you’re taking the proper steps in the proper order to make your move as organized and successful as possible. If you need movers, consider our partner, Bellhop, for local and long-distance moving help.
Now that you made it here, let’s get to know the city! Whether it’s finding the perfect brunch place, or getting the best sports ticket in town, there’s so much to know about living in Dallas. From Downtown to Uptown, and from East to West, AptAmigo has got you covered with all the insider tips. Check out our neighborhood guides to get started exploring.
Let Us Treat You Like a VIP
AptAmigo is here for your next move to or within Dallas. We offer concierge-level services that make apartment hunting—dare we say it—fun! Our agents listen to your needs and set up tours with only the apartment buildings that match your desires and budget. We’ll even schedule your tours for free! Reach out to AptAmigo today to get started.
Jeanette Smith is a writer, editor, and freelancer based in Dallas, Texas. Find out more at JeanettetheWriter.com.