Located along the Trinity River in the southern state of Texas, the city of Dallas is home to over 1.3 million friendly and welcoming residents. To the south Texas is greeted by the Gulf of Mexico while in the north it meets Oklahoma. The city of Dallas, Texas, or Big D as it is nicknamed, is one of the fastest-growing metropolitan areas in the U.S.
There are a lot of lists and rankings online that tell you which is the best, which is the worst and at what but we are going to try to make some order into all of that mess. One ranking system that can be trusted is that of Forbes. They rank Dallas #2 as the fastest-growing city in the U.S. in a top ten, while 4 cities are from Texas. Furthermore, for those venturing into the business market, the city of Dallas, Texas, also according to Forbes is the #2 best city for business and careers.
The city is booming with the economy, smart housing developments and a diverse and friendly population that is constantly growing. It is said that the city of Dallas, Texas adds another person every three minutes and by the speed with which it’s population grew and the economic boost, that person is living a fulfilling life in Dallas.
Cost of living in Dallas, TX
As we are on the subject, the perfect combination of high employment rate, smart housing developments, and no state income tax, makes Dallas a very good and affordable place to live. People here can afford to live a great life because there are a lot of good and accessible jobs. Those people that say the opposite are just a few here because it seems like every month there is another big company that moves in Big D or “Silicon Prairie” as some came to call it. With one of the largest concentration of company headquarters in the U.S. Dallas is attracting more and more Millenials who love tech-jobs. Dallas added 66,000 new tech positions in the last nine years.
The industry has developed and the city of Dallas, TX doesn’t rely on the oil and cattle industries anymore. Those are, of course, still a big part of the economy here, but the times have changed. Being in one of the few states with no income tax, Dallas and the surrounding areas managed to attract big corporations. This means that 9 to 5 jobs at big corporate offices are a big presence in the job market. Those office positions secure a steady and healthy income, not to mention how they improve the cost of living, offer security and a good balance with personal life.
Families are important and as big companies came here, Dallas invested in homes for the future. The city is increasing consistently and so are the housing areas. Unlike Houston, if you compare the two, in the city of Dallas, Texas there is constant building and development that avoided a housing crisis and responded to the market’s need. It is why renting or buying an apartment or house in Dallas is so affordable. There is enough inventory on the market for those looking to buy/sell a property and holding a sturdy cost of living that makes it affordable. Dallas is experiencing a buyers market with choices and options for everyone in most areas of the city and surrounding areas. The median house price in Dallas might be a bit higher than in Texas, but it is affordable and it’s a steady market. Housing prices have been on a steady climb ever since 2012, so the chances of buying a house in Dallas and selling it years later with a depreciation is almost nonexistent. You’ll find more about housing however later.
The cost of living in Dallas, TX is low because the economy is stable and growing. The residents of Dallas, TX can afford to purchase houses even if the housing prices have increased because the growth has been steady and hand-in-hand with the growing economy. A good and stable economy guarantees an accessible cost of living in Dallas. The estimated monthly cost of living for a family of four is approximately $4,000 while the average income in Dallas, TX is $69,000. Like this, you get the approximate of $1,700 extra pocket money every month. Living in Dallas, TX is cheaper than 55% of the other cities throughout the U.S. having a cost of living that allows for savings every month is not so bad considering that you are living in a metropolis like the city of Dallas, TX.
Dallas housing market trends and forecasts for 2020
The housing market in Dallas, TX has been on a steady and calculated climb ever since the nationwide drop in 2012. The fact that the market didn’t have accelerated escalations or sudden drops since, but a calm and certain climb comes as a proof of the stability of the housing market in Dallas.
Currently, with the influx of millennials attracted to the cool and tech-savvy job market, the housing market trends show a necessity that investors are more than happy to accommodate. This generation doesn’t want to buy. At least not yet. This 20-30 something independence-seeking generation are more likely to rent than those that came before. They come flocking to Dallas and so do families who want to put down roots. To this, you can add the faculty and student body present in both Dallas and its surrounding areas.
These demographics keep a steady necessity for rentals although the housing market creates new developments in the areas. This goes for both urban and suburban areas. Some are seeking the excitement Dallas can offer, others want the security a suburb community can provide.
If you’re looking to invest in the housing market, for your family or in housing developments then this is the city to look at. When buying also make sure to avoid things that first time home buyers in Dallas often do. Aside from the steady influx of renters, Dallas is constantly growing. The equation is easy.
Companies come – they need employees.
Employees come – they need housing.
Housing is developed – the city grows.
The smart thing about the city of Dallas, Texas and its surrounding areas is that they think ahead. It is how the city grew as it did. Another factor that helps Dallas in contrast to Houston, for example, is the abundant amount of land surrounding it. There’s no water to stop it, mountains to block it or close borders to prevent it. And so it grows. Start browsing for top realtors in Dallas TX to help it grow further as there is more than enough room.
Taking into account the fact that between 2017 and 2018 the city of Dallas, Texas added almost 132,000 new residents which means an increase by 1.8%. It was the largest in the U.S. in that particular period. Also, the Dallas-Fort Worth area is experiencing a growth rate that is similar to what L.A. went through 40 years prior.
This is why housing and real estate investors come here and spend their money. They love Dallas and they make sure to provide something for every possible newcomer. Dallas’s growth can not be blamed on one type of resident. Millennials come here for work and excitement. Families are in search of a place to start their life. Retirees come here for the sunny weather and quality of life.
The growth that the city of Dallas, Texas experiences now is one bustling with diversity. Currently, almost a quarter of the population is African American and non-Hispanic caucasian decreased to less than a third in recent years. Because of the influx of population almost a quarter of the residents were born elsewhere than the U.S. and are first-generation Americans or immigrants.
Dallas can also be proud of being the 12th most Pride-ful state with its gay, lesbian, bisexual and transgender population.
Things that you should keep in mind about the population of Dallas are guns, ten-gallon hats, cowboy boots, and Texas pride. Don’t make fun or denigrate Texas in front of a Dallasite as they are great defenders of the Lone Star State. Some wear hats to dinner, business meetings and everyday activities, and they will use words like “Sir”, “Maam”, “Howdy” and “Yall” like millennials use “like”. Courtesy and good manners are close-at-hand as their friendly southern attitude will show you a welcome as big as the state.
Fun things to do in Dallas, TX
The city of oil magnets and cattle barons has long since transitioned into the hip, modern and exciting fast-developing southern city. Dallas is a magnet abundant of entertainment. Food, sports, museums and zoos are just some of the attractions Dallas has to offer. They all have that something extra and offer an abundance of things to do in Dallas, TX.
Steaks and Barbeques are readily available, as are Tacos, Tortillas or any other real Mexican Foods. The city of Dallas, Texas has more restaurants per capita than any other city in the nation. If you’re a Barbeque lover, do not dare to skip “Slow Bone” as it is reviewed to be the best Barbeque joint by Texas natives. If there’s anyone who is entitled to an opinion on barbeque it’s Texans. If you’re looking for Mexican food, the place you should not avoid is “Mia’s Tex-Mex” for brisket taco, nachos and homemade salsa.
Dallas is not a city for those who aren’t into their sports. It can be Basketball, Football, Baseball, you name it. Here you can support your home team and have things to do year-round. The “Dallas Cowboys” are nicknamed America’s Team. While there are smaller cities in Texas where everything shuts down during football games, in Dallas, it’s close to a religion. Known for its sports, Dallas is an avid fan of also High School Football as the whole state is. The movie “Friday Night Lights” celebrates this like no other.
The Great Outdoors
It can be the Farmer’s Market that’s the largest in the U.S. and is open year-round with fresh fruits or vegetables or the State Fair that welcomes 14 thousand visitors on the first day and has even deep-fried jello on the menu. Great weather is all you need in order to enjoy a great day outside. Other things to do in Dallas, TX as the weather will most certainly allow it are the Arboretum and Botanical Gardens, the Dallas Zoo which is the largest in Texas or White Rock Lake Park for a family outing that’s great for children as well. The Cattle Drive Sculptures in Pioneer Plaza will surely amaze you and the Southfork Ranch will remind you of JR and Sue’s unhappy marriage.
There are many museums that provide for interesting things to do in Dallas, TX, but the one that is unlike any other is the Sixth Floor Museum at Dealey Plaza. The location is created in memoriam of one of the most beloved U.S. Presidents. Here, you can sit in the window from which the charismatic president John F. Kennedy was shot. It also displays collections and memorabilia of his life and his presidency.
Once you decide to move to Dallas, TX, make sure you have a bit of know-how about Dallasites. They are very friendly but make sure you don’t insult Texans as they are great defenders of the Lone Star State. The traffic is another thing that Dallas is known for but not in the best way possible. They are trying to improve it but it does face the typical big-city problem. Guns are a fact of life but the safety of Dallas is not greatly affected by this. Don’t argue against sports or barbeque as here you’ll get some strong opinions about both.
Lastly, enjoy the weather. It’s sunny, warm and bearable when compared to other southern cities where the humidity is sometimes too much. Hail, tornados and strong winds are a possibility here so make sure you are careful about that. Hurricanes don’t hit the Lone Star State as hard because it isn’t by the shore. They mostly dissipate by the time they get here.
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