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Cost of Living in Dallas

Is it better to rent or buy in Dallas? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$84,898
$1,571/mo

Median in area: $1,571

$431,604

Median in area: $431,604

$86,321

If you Rent

🔑
$1,661 /mo
Base Rent$1,571
Est. Utilities$90
% of Income23.5%
Pre-tax Residual$5,414

If you Buy

🏠
$3,059 /mo
P&I (6.834%)$2,259
Taxes & Ins$710
Est. Utilities$90
% of Income43.2%
Pre-tax Residual$4,016

Cost of Living FAQs

Is it cheaper to rent or buy in Dallas?›

Based on median housing data, renting is currently more affordable on a monthly basis in Dallas. The estimated all-in monthly cost for renting is $1,661, while owning a median-priced home with a 20% down payment is roughly $3,059 per month (a difference of $1,398).

How much do utilities cost in Dallas?›

The average monthly utility cost (electricity and natural gas) for a typical home in Dallas is approximately $90. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Dallas?›

To comfortably afford the median rent and utilities in Dallas without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $66,440 per year.