Four North Texas Cities Make List of Most Affordable Places to Live

Several Texas cities were included in a recent NerdWallet list of “The 100 Most Affordable Places to Live in America.” According to the personal finance website, which compared median household income to the average cost of living in order to compile the list, four North Texas cities are among the country’s most affordable.

To determine which cities are the most affordable in the country, NerdWallet analysts examined the median household incomes for 237 cities throughout the country. They then compared these figures to the cost of living index as determined by the 2014 Council for Community and Economic Research. The analysts found that wealthier cities typically experienced a smaller gap between the two figures.

Plano, Texas Named the Most Affordable City in the Country

After crunching all of the figures, NerdWallet found that Plano, Texas was the most affordable place to live in the country. With a median household income of $81,800, Plano residents enjoy a median household income that is 57 percent higher than the national average. Furthermore, the city’s cost of living is just one percent below the national average while its housing coast is 10 percent below the national average. Therefore, while Plano is not necessarily a cheap place to live, it is affordable when the cost of living and housing costs are compared to what the city’s residents earn.

Other wealthy cities that made the list included Juneau, Alaska; Hilton Head Island, South Carolina; and Scottsdale, Arizona. While the cost of living in Juneau is 32 percent above the national average, the median income is 62 percent higher than the national average. As such, the city took the number four position.

The four North Texas cities included on the list were:

Plano, Texas (number 1)

Median Household Income: $81,800

Income Index: 157 (national average is 100)

Cost of Living: 99

Weatherford, Texas (number 16)

Median Household Income: $51,983

Income Index: 99

Cost of Living: 89

Fort Worth, Texas (number 39)

Median Household income: $51,168

Income Index: 98

Cost of Living: 100

Denton (number 40)

Median Household Income: $47,136

Income Index: 90

Cost of Living: 93

Perhaps the most interesting information to come out of the study was that those cities that are considered to be cheap are not necessarily the most affordable. While the cost of living and housing costs in these cities may be less than the national average, the residents also earn substantially less. The Study also found that residents of major cities typically face a much larger gap when comparing what they earn to the cost of living.

Finding so many North Texas cities included on the list of the top 100 most affordable cities in the country does not come as much of a surprise to those who call the region home. With its high affordability combined with the great location and many amenities, North Texas is the perfect place to purchase a home. To learn more about Dallas-Fort Worth homes, contact our team of knowledgeable and experienced real estate experts today.

Check out these Plano homes priced from $350,000 to $450,000