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Dallas real estate market overview
- Average Monthly Rent: $1,598
- Home Price/Value Percentage Change: 3.60%
- Median Home Value: $308,305
- Best Time To Sell a Home: June
- Affordability Index: Low
- Days To Sell a House: 51
- Job Market: Fair
- Public School Ranking: 27
Location and weather
Dallas is the 9th largest city in the US and can be found on the rolling plains in the northern region of Texas, along the Trinity River. This modern metropolis city sits 35 miles east of Fort Worth and is considered the county seat of Dallas County. Amongst the 40+ miles of green space are tons of parks, forests, and trails, making it the perfect place for residents looking to live a city life that also offers outdoor recreation.
Dallas's moderate climate makes the weather here tolerable almost year-round, although there is some snow during the winter months. This city only receives around 40 inches of rain per year, and there are potential tornado hazards.
Population, job market and cost of living
Dallas has a population of 1,348,886, with a growth rate of 0.80% annually.
The job market has decreased by -3.55% over the last year. In ten years, job growth is predicted to be 45.12%. Dallas has been described as an economic hotspot, and experienced the second-slowest rate of job loss during the pandemic. In 2021 this city was one of the world's leading corporate headquarter centers, boasting 9 Fortune 500 companies and 17 Fortune 1000 companies. Some of these companies to work for at this moment include AT&T, 7-Eleven, Tenet Healthcare, Affiliated Computer Services and Essilor USA.
Dallas also boasts a strong education sector, as it's the home of University of Texas at Dallas and University of Northern Texas. This is one of the more expensive cities to live in Texas, with transportation weighing as the biggest expense here.
Dallas real estate market details
- Uptown
- Bishop Arts District
- Preston Hollow
- Lakewood
- Oak Lawn
- University Park
The average monthly rent in Dallas is $1,598 for an average apartment size of 849 sq. feet.
There has been a 3.6% increase in Dallas's median home value over the last year. As of 2023, the median home value is $308,305.
On average, homes in Dallas sell after 51 days on the market.
Home sales during June can provide the highest valued sale, while home sales also in June can provide the quickest sale.
The affordability index in Dallas is 134. This number indicates low affordability in this city.
The top ranked public schools are George B Dealey Montessori Academy, Sudie L Williams Talented and Gifted Academy, Irma Rangel Young Women's Leadership School, and Dallas Environmental Science Academy. This information is based on data regarding academic performance and equity.