Steve Blow’s article in today’s Dallas Morning News is another indication of what we Dallasites know and love about living here-it’s cheaper to live here than in many other cities, and many of those cities have less to offer in the way of jobs and culture, than we do. Coldwell Banker’s recent study found that Dallas ranks 56th out of 300 cities nationwide. Detroit ranks as the cheapest place to live and Newport Beach, California, comes in at the most expensive city to call home.
The interesting part to me is that the average price of a four bedroom, two bath home in Detroit is $68,007. In Newport Beach, the same sized house will cost you $1.83 million, and in Dallas, it will cost you $180,228. The study also found that 25 cities averaged over $750,000.
So, lots of job growth, low priced housing and super low interest rates=a great time to buy a home in Dallas!