Disclaimer: I had the pleasure to work with the wonderful people at Zillow.com to provide some fantastic insight into looking for great home locations for single people in the Dallas-Fort Worth Area. Check out his suggestions if you are single millenial, divorced, a single parent, or a single baby boomer. Everything you could need is in this post.
By Nick Elam of Zillow
Whether you’re enjoying the single life or are in search of love, Dallas is a limitless place to be single. No matter what your situation is, finding a home with the right balance of social hotspots, reasonable commute times and low cost of living is important. However, it’s hard to know which neighborhoods provide all of these factors prior to moving, especially when you’re doing it alone. When looking for homes, Dallas is a great place for singles.
Potential homebuyers in the Dallas-Fort Worth metro can expect high competition as inventory is low in this sellers’ market. Home values went up 8.2 percent in the last year, and Zillow predicts values will rise another 5.5 percent in the coming year. Therefore, investing in property in the metro could be financially advantageous. Dallas homes have a median sale price of $191,555 and renters pay a median monthly rent cost of $1,325.
Many singles rent, instead of buy, for flexibility and affordability. Zillow’s breakeven horizon calculates the amount of time renters must reside in a home for the collective costs of renting to exceed those of buying. Residents who continue to rent beyond the horizon begin to lose money that homeowners would gain. The breakeven horizon is set at 1.3 years for the Dallas-Fort Worth Metro. Therefore, prospective singles planning on staying longer than 1.3 years should evaluate their budgets to decide whether making a down payment is within reach before renting.
The city is home to many singles and the likelihood of meeting someone new is strong. Singles make up 56.6 percent of Dallas’ 1,206,228 residents. Out of the people who moved to Dallas last year, 4.9 percent were single. Also, the city has 23 potential date spots per 10,000 people, making it an ideal hub for meeting and mingling with new, Dallas singles.
Affordability is a large factor in house hunting. Finding a cost-effective home within close proximity to jobs and hotspots is a challenge. Where can singles find this type of Dallas real estate?
Formed by 15 individual districts, Downtown Dallas offers singles a variety of housing options close to the business district and major social hotspots. Explore each districts’ residential attractions and atmospheres to find an area that fits your lifestyle and budget.
Dallas singles have a median disposable income of $21,577. Disposable income is determined by the median income of Dallas singles minus the median rent price. With $21,577, singles can afford to splurge on the extra rent costs. However, some areas may require living with roommates as each district is priced differently. A less pricey option, Cedar Crest has a median monthly rent cost of $800, whereas the Arts District has higher median monthly rent costs of $1,522. Compare affordability with lifestyle to select the right area for you.
Singles interested in moving to the Dallas-Fort Worth area can find ideal spaces close to jobs and social venues. Depending on your situation, buying or renting may be a factor in your home search, too. Whether you’re interested in a home downtown or searching elsewhere in Dallas, singles can find homes to fit their lifestyles.