For decades there’s been a cost-of-living advantage in Texas and the state has grown exponentially because of it. But Texas housing costs jumping 34% in five years, with Dallas leading the way. When will it become ‘too expensive’ to move to the Lone Star State?
Dallas is the least affordable home market in Texas according to the National Association of Home Builders. Income has risen only 14% in the same five year period.
D-FW apartment renters are paying almost 6% more than this time last year, i.e. an average of $1057 per month and higher than the U.S. average.
Home prices hit record highs last year and so far this year, with the median home price in February being $203,400. That’s $8k more than the median price nationwide.
A Dallas Morning News report ponders the future of North Texas growth. At some point it’s gotta slow down… right?