Cost of Living in Dallas, TX 2023
Big things happen when you move to Dallas. Whether it is dining on an oversized plate of delicious Tex-Mex or cheering on the Cowboys to their next win, everything in this city is done in a larger-than-life way.
The good news is that when it comes to the cost of living in the Big D, the big city shouldn’t break the bank. The cost of living in Dallas is significantly lower than in other comparable large cities across the nation. Read on to learn more about how your most common living expenses will shape up in this Texas city.
Dallas Housing Costs
Housing is normally your biggest expense anywhere you live, so let’s start by evaluating the cost of living in Dallas. The city typically enjoys some of the fastest job growth in the country, although the coronavirus pandemic has slowed the marketplace just about everywhere.
The city’s year-over-year rent growth has increased by 6.2% in comparison to last year's average. Currently, a median one-bedroom in Dallas rents for $1,201 per month. A median two-bedroom will cost you $1,436 a month.
Learn more about the average rent prices in Dallas and the best neighborhoods to live in Dallas.
Dallas Transportation
As a big city, knowing how to get around Dallas, and how much it is going to cost you, is key to life here. Expect to spend approximately $5,509 a year on transportation as a single adult. If you are a family of four (two working adults and two children), your transportation cost will increase to $15,012 a year. You can also hop on DART—Dallas public transit system. Prepare to pay $96 a month for a local monthly pass, or $2.50 for a single one-way trip.
Food
In accordance with MIT living wage estimates, a single full-time working adult that cooks his or her own meals (including snacks) spends around $3,351 a year on food. However, if you want to take advantage of all the delicious restaurants Dallas has to offer, to say nothing of the plethora of frozen margaritas offered across the city, then plan to spend on average $20 for a meal at an inexpensive restaurant. A meal for two people at a mid-range restaurant will cost around $75. The city is celebrated for its incredible food, though, so plan your cost of living in Dallas accordingly.
Healthcare
MIT used data from the Bureau of Labor Statistics and the Agency for Healthcare Research and Quality to estimate typical health expenditure for Dallas residents. The estimates for healthcare amount to $2,549 per year for a single full-time working adult and $9,016 per year for a family of four.
Utilities
A basic utility bill that includes electricity, heating, cooling, water, and garbage for a 915 sq ft apartment averages around $173.58 a month. Beyond the average utility bill, Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) will increase the total monthly cost of utilities by approximately $70.75, totaling $244.33 a month.
Fitness and Entertainment
If you are a gym-goer, be prepared to shell out another $44.69 on monthly membership fees. If your preferred type of entertainment is going to the movies, it will cost you about $13.50 per ticket, excluding money spent at the concession stand.
What Salary Do I Need to Live in Dallas?
The recommended household income for a one-bedroom in Dallas is about $48,040 a year or $24.02 an hour. However, the estimated median household income in Dallas of $58,231 a year.
The “living wage” is defined as the minimum amount of money needed to live above the poverty threshold. For Dallas, the living wage is $17.82 an hour for a full-time employed single individual. It excludes expenses on restaurants, entertainment, and vacations, and doesn’t allow for savings.
Final Thoughts
Looking to find an apartment in Dallas? Just get started by taking this quiz!
You can also learn more about:
Texas:
- Things to Know Before Moving to Texas
- Cost of Living in Texas
- Best Places to Live in Texas
- Cheapest Places to Live in Texas
Houston:
- Things to Know Before Moving to Houston
- Cost of Living in Houston
- Average Rent in Houston & Rental Price Trends
- Best Neighborhoods in Houston
Austin:
- Things to Know Before Moving to Austin
- Cost of Living in Austin
- Average Rent in Austin & Rental Price Trends
- Best Neighborhoods in Austin
San Antonio:
FAQs: Cost of Living in Dallas in 2023
How expensive is an apartment in Dallas?
A one-bedroom apartment in Dallas costs $1,201. If you need more space, a two-bedroom apartment in Dallas costs $1,436.
What is the cheapest rent in Dallas?
The cheapest rent in Dallas is about $1,201, which is the average cost of a one-bedroom apartment.
How expensive is it to live in Dallas?
In Dallas, rent averages $1,201 per month for a one-bedroom. It costs $2.50 for a single one-way trip or $96 a month for public transportation. You can expect to pay around $3,351 a year on meals and snacks, or $20 for a meal at an inexpensive restaurant. A meal for two at a mid-range restaurant costs around $75.
How far is Dallas from Houston?
Driving from Dallas to Houston is 239.1 miles and takes about 3 hours and 35 minutes, depending on traffic. There are also plans to bring high-speed trains from Houston to Dallas.
How far is San Antonio from Dallas?
Driving from Dallas to San Antonio is 273.9 miles and takes about 4 hours and 16 minutes in normal traffic.
How far is Austin from Dallas?
Driving in normal traffic between Dallas and Austin takes 195.6 miles and takes about 3 hours and 5 minutes. Amtrack's Texas Eagle Train also goes through major cities.
How far is Waco from Dallas?
Driving from Dallas to Waco is 96.7 miles and takes 1 hour and 40 minutes.
What is the population of Dallas?
The U.S. Census Bureau reported a population of 1,288,457 people living in Dallas in 2022. The entire state of Texas has 30,029,572 residents.
Is Dallas cheaper than Houston?
Dallas is currently more expensie than Houston. Dallas rents rose by 6.2% compared to the same time last year and the average rent for a one-bedroom apartment is $1,201. Houston's rents have grown 3.6% over the same time period, and the average rent for a one-bedroom apartment runs $1,062.
What is a good salary in Dallas?
To comfortably afford a one-bedroom apartment in Dallas, you need to earn about $48,040 a year or $24.02 an hour. However, according to the U.S. Census Bureau, the estimated median household income in Dallas of $67,321 a year.
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