Dallas VS Austin Cost Of Living – Know Before You Move

Dallas VS Austin Cost Of Living

Are you thinking of moving to Dallas or Austin? Both cities offer a lot, but which is the better choice for you? Check out the comparison of the cost of living in both cities (Dallas VS Austin Cost of living) to help you decide.

Due to the booming economy, vibrant culture, and pleasant environment of Dallas and Austin, people worldwide are moving to these cities. Are you also planning to move to one of these cities? 

Wondering which one is cheaper and better to live in? If these questions sound familiar, you have clicked on the right article. We will tell you everything about both the cities and the cost of living in detail. So without further ado, let’s dive in. 

Living In Dallas: A Quick Glance

Dallas VS Austin Cost Of Living

With 1.3 million residents, Dallas is the ninth largest city in the U.S. It’s also the third largest city in Texas and is located in the Northeastern part of the state. Before you decide to move to Dallas, know these facts about this city- 

  • Living in Dallas is not as expensive as you might think. Renting houses, groceries, transportation, and healthcare is less expensive compared to other cities in the U.S. The average income in the city is $31,975 (source). 
  • An average home in Dallas costs approximately $400,000 (source) and renting an average house would cost you $1,474 a month (source). Buying a house in Dallas is cheaper than in places like Miami, San Francisco, and Denver, where the average cost is approximately $531,706 (source).
  • Due to affordable property rates, house ownership rates in Dallas are higher than in most other cities in the States. For instance, around 64.7% of people in the Dallas Fort area own houses, compared to 45% ownership in other states like Atlanta. 
  • Some of the popular neighborhoods to live in Dallas are- Casa Linda, Oak Lawn, Uptown, Frisco, Lake Highlands, Old East Dallas, Allen, Midway Hollow, Grapevine, Celina, Flower Mound, etc. 
  • Dallas is a hub for job seekers. If you want to move to a new city for great job opportunities, Dallas might be the right place for you. Even during the pandemic, Dallas has the slowest rate of loss among big economies. 
  • For transportation, having your own car makes commuting easier since it’s a huge city. But if you don’t own one, you can use public commuting. The Dallas Area Rapid Transit System is the city’s biggest bus and train system that connects the city from everywhere. 
  • Dallas is a great place to pursue your higher education. It has two renowned universities- The University of Texas and the University of Northern Texas. Dallas is best for school education also. You’ll find numerous reputable schools in the city. 
  • But the crime rates in Dallas are higher than most cities in America so before you move, inquire about the locality and crime incidences (if any). As per the Neighborhood Scout report, 36.51 residents per 1000 are victims of property crime, and 8.86 residents per 1000 are victims of other violent crimes. So do your research and always choose the safest place to move in.
  • Consider the distance from your study/ workplace to your home, as traffic is unavoidable in Dallas. 

Living In Austin: A Quick Glance

Dallas VS Austin Cost Of Living
  • Austin is the capital city of Texas, so you can imagine the boisterous life the city will offer. Austin is comparatively expensive to Dallas, considering it is the capital city, and the average income in Austin is almost the same as in Dallas, which is around $41,242 (source). 
  • Buying a home in Austin is also more expensive than in Dallas. For example, a median home in the city would cost you $624,000 (source). Renting an average house in the city would cost you approximately $1,735 (source), which is not much higher than what you would pay in Dallas. 
  • House ownership rates are also low in Austin compared to Dallas. Only 45.5% of people own houses in Austin, and we very well know the reason for such a low rate,it’s expensive. 
  • Popular neighborhoods to live in Austin are- Tarrytown, South Manchaca, Franklin Park, East Austin, South Lamar, Hyde Park, North Loop, Mueller, etc. 
  • Austin is the best place for job seekers. Companies like Google and Tesla are opening so many job opportunities making the city the second biggest job market in the States. 
  • Another perk of moving to Austin is you don’t have to pay income tax, which can save a lot of money. 
  • Public transportation is not great in Austin, so the best way of commuting is through your own car. So fuel, car maintenance, and insurance are the other expenses. 
  • Austin is also great for higher education. Another branch of the University of Texas is located in Austin, which secured the 38th rank among the Best Colleges in National universities in 2022. There are other educational institutes as well that provide quality education. 
  • The crime rate in Austin is much lower, and it has secured 13th rank among the best places to live. 
  • Similar to Dallas, traffic is a huge issue in Austin as well, so you better choose a place closer to your workplace or college/ university. 

Now that you have a better idea of what to expect from both places let’s look at the comparison table based on housing, food, transportation, etc. 

Dallas VS Austin Cost Of Living 

Dallas VS Austin Cost Of Living
Cost of living indexes Dallas Austin Difference 
Housing (homeowner)92.9159.678%
Food and groceries 99.196.72.4%
Homeowner without child and without taxes 101129.428.1%
Utilities 10099.10.9%
Maiden home cost $400,000$624,000112.2% 
Health 98.1101.63.6%
Transportation 117.1109.96.1
Utilities 10099.10.9%
Miscellaneous 105.2100.44.6%

Conclusion 

The table shows that apart from the housing and homeowner cost, the rest of the expenses do not make a huge difference; if the housing cost isn’t a dealbreaker for you, an adventurous life awaits you in Austin. 

The job opportunities, the scope of higher education, etc., are also the same in these two cities, but the higher crime record of Dallas makes Austin a better city comparatively. 

I hope you find our article Dallas VS Austin Cost of living informative and useful!

About the Author: Clair Tores

Clair has been working in the banking industry for the last 10 years. With massive experience in investing, savings and overall money management, she has the know how and speak the jargon of cash.

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