If you're considering a move to Dallas, Texas, you might be wondering about the cost of living. As of 2024, the average monthly cost of living for a single person in Dallas is approximately $2,800, excluding rent. This figure covers essentials like food, transportation, utilities, and entertainment. Let's break down the costs across different areas and see how Dallas compares to other major cities.
Breaking It Down by Counties and Major Towns
Dallas County and Major Cities:
Dallas (city proper): $2,800/month
Plano: $3,000/month
Irving: $2,700/month
Tarrant County:
Fort Worth: $2,600/month
Arlington: $2,500/month
Collin County:
Frisco: $3,200/month
McKinney: $3,100/month
Denton County:
Denton: $2,400/month
Lewisville: $2,600/month
Compared to other major U.S. cities, Dallas offers a relatively affordable cost of living:
New York City: $4,500/month
San Francisco: $4,300/month
Chicago: $3,100/month
Houston: $2,600/month
While Dallas isn't the cheapest city in Texas (that honor often goes to smaller cities like Lubbock or El Paso), it offers a good balance of big-city amenities and reasonable costs. The lack of state income tax in Texas also helps stretch your dollars further.
However, it's important to note that housing costs in Dallas have been rising steadily. According to Zillow, the typical home value in Dallas is $309,984 as of early 2024, up 5.7% over the past year (https://www.zillow.com/dallas-tx/home-values/).
Despite rising costs, Dallas remains attractive due to its strong job market and diverse economy. The Dallas-Fort Worth metro area added over 250,000 jobs in 2023, according to the Bureau of Labor Statistics (https://www.bls.gov/regions/southwest/tx_dallas_msa.htm).
When considering a move to Dallas, remember that costs can vary significantly depending on your lifestyle, neighborhood choice, and family size. While the city offers many affordable options, luxury living in upscale areas like Highland Park or trendy neighborhoods like Uptown can quickly drive up expenses.
Overall, Dallas provides a compelling mix of economic opportunity and reasonable living costs, making it an attractive option for those seeking a balance between big-city living and financial sustainability.