Dallas, TX

Rent vs buy in Dallas

Median home $330,300. A 1 bedrooms rents for $1,263 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,263; per month
Own the median home: $2,383; P&I, tax, insurance, upkeep
Owning costs extra: $1,120; per month, same metro

What a purchase actually costs

20% down payment$66,060
Mortgage at 6.5%$1,670
Property tax (1.49% of value)$410/mo · $4,921/yr
Insurance and upkeep (1.1%/yr)$303
Total monthly ownership$2,383

Census ACS 2023: 48.8% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $3,044 left over a month, it takes about 22 months (1.8 years) to save $66,060 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.