Welcome to DallasMortageRate.com your guide to the real estate market in Dallas! If you are looking to buy a house in Dallas or rent a Dallas apartment, here are some useful facts about the Dallas real estate market.
The city of Dallas, TX has a population of 1,330,000 people, and 30% of those have a bachelor’s degree or higher. The median household income is $40,796. Its location allows easy access to practically any city in North America – you can take a flight from DFW and reach any major city in the U.S. within less than 4 hours. It is also central to the vibrant north Texas economy.
The combined cost of living in Dallas, TX is 92% of the national average, making it one of the most affordable large metro areas in the U.S. (Washington D.C. in comparison, has a combined cost of living of 140% of the national average and New York City has a combined cost of living of 217.5%).
Housing costs are also low–68% of the national average. Low taxes combined with a growing economy, affordable high-value homes as well as a low cost of living make Dallas, TX a hot spot in the national real estate market. Temperate Dallas weather, a plethora of shopping malls in Dallas, TX, as well as a wide variety of business centers make this city a great location for anyone from young professionals to retirees. Restaurants in Dallas, TX also reflect the dynamism of the community, as there are more restaurants per capita than in any other city in the U.S.
According to the National Realtors Association, as of 2009, the average home selling price in Dallas was $155,000 less than the national average. As any other market in the nation, the Dallas real estate market has also seen prices fall as a result of the housing crisis.
In light of this decrease in already low prices, the Dallas housing market should seem even more attractive to buyers.