Within the Dallas-Fort Worth Metroplex, you’ll find a multitude of cities and communities to explore. And if you are searching for a thriving, diverse city with plenty of charm, Denton might just be the perfect place to call home. Let’s look at the average cost of living in Denton, TX.
Located in the far north portion of the metropolitan area, Denton is best known for its flourishing music scene. It is often considered one of the most beloved Texas college towns and a favorite for families looking for a small-town feel. Since its incorporation in the 1860s, Denton has seen steady growth – and once you see everything it has to offer, it is easy to understand why.
If you are considering moving to Denton, TX, we have created a comprehensive cost-of-living guide to help you determine if it’s the right place for you.
What is the cost of living in Denton, TX?
When calculating the cost of living for any city, a score of 100 is used to represent a “baseline” of the U.S. average cost of living. In Denton, the cost of living index is 97.1. That means that, compared to the average across the United States, Denton is about 3% less expensive.
When you compare Denton to Dallas as a whole, it is impressively affordable. Whereas living in Dallas costs slightly more than the U.S. average (about 7% more), residents of Denton can enjoy a high quality of life on a budget.
The cost of living includes basic expenses, such as:
- Housing
- Food
- Utilities
- Transportation
- Healthcare
- Goods and services
- Taxes
Let’s take a closer look at each one of these categories so you have a better idea of what to expect when planning your move.
Housing costs in Denton
Denton is among the fastest-growing cities in Texas, keeping pace with the rapidly expanding Dallas-Fort Worth Metroplex area. So, the housing market can get competitive, but despite all that, the average cost of housing is on par with the U.S.
Denton scores 101.1 for housing costs, which is significantly lower than Dallas itself. Particularly when compared to nearby communities such as Argyle, Double Oak, and Highland Village, Denton offers a variety of housing options at very accessible prices.
The average home price in Denton is currently hovering around $400,000, but many homes climb well above the million-dollar mark. For this reason and others, many locals opt for rental homes in Denton instead. Rent for a studio in Denton is about $950, going up to about $2,000 for a four-bedroom apartment. Denton’s rent costs are lower than the average for Dallas-Fort Worth and Texas.
Food costs in Denton
In Denton, grocery prices are right in line with the nationwide average. If anything, groceries are actually just a bit more affordable here. And if you enjoy dining out, this is good news – especially because the Dallas area is known for its fabulous culinary scene. You shouldn’t have any problem balancing grocery costs with restaurant dining.
The cost of food staples in Denton is comparable to that of the larger Dallas metro area:
- A half-gallon of milk: $1.97
- A dozen eggs: $1.15
- A pound of ground beef: $4.42
Denton has a wide variety of grocery stores, including budget-friendly retailers and wholesale clubs. If you prefer gourmet stores or farmers’ markets, you’ll find plenty to choose from within a reasonable drive.
Utility costs in Denton
As a resident of Denton, your utility bills will be slightly slower than the U.S. and the Texas average.
Keep in mind that, like much of the Dallas-Fort Worth area, Denton has warm, humid summers. So, your electricity bill will likely be much higher in summer (compared to winter) because you’ll be running your A/C regularly. But if you are moving to the area from a colder region, you will be pleasantly surprised by the fairly mild winters.
Transportation costs in Denton
Like most parts of Dallas, Denton is largely a car-centric community, meaning that you’ll most likely be using your personal vehicle to get around town, including daily commutes to work.
However, you also have great options for public transit in Denton. There is a bus and commuter rail service, managed by the Denton County Transportation Authority, as well as university shuttles and special discounts for college students. You can even use Denton public transit to connect to the Dallas Area Rapid Transit (DART) Green Line. And of course, ride-share services are also easily accessible.
Healthcare costs in Denton
The healthcare sector is one of the major employers in Denton, so it makes sense that healthcare would generally be easily accessible in the area. At large, the Dallas area is well-known for excellent-quality healthcare, with a wide variety of respected hospitals, facilities, and providers.
Granted, healthcare costs can vary considerably, depending on factors such as insurance coverage and your personal needs.
Goods and services costs in Denton
What about expenses that fall outside the categories of “basic essentials,” like fitness, pet care, and personal care? In Denton, these miscellaneous goods and services are about 5% cheaper than the national average.
Taxes in Denton
One of the many benefits of living in Texas is that there is no state or local personal income tax – which translates into more money in your pocket every payday.
Dallas regulations determine the sales tax in Denton: a 6.25% Texas state sales tax, with an additional 2% for county taxes. There are three tax-free weekends in Texas, which can be the perfect time to save money on a big-ticket purchase.
In the Dallas area, property taxes are slightly high. But for anyone debating between renting and owning a home, saving on property taxes can be a major perk to becoming a tenant.
How much do I need to earn to live in Denton?
According to MIT’s Living Wage Calculator, a single person living in Denton would need to make about $17.82 per hour or $37,000 annually (before taxes) to live comfortably. As you increase the number of people in your household, that figure also increases.
Here is the great news: there are many occupations in the area that pay well above that annual salary. So, your prospects are good if you are searching for jobs in Denton (or even in the Dallas area).
Discover Dream Homes for Rent in Denton, TX
Are you searching for rental homes in Denton? Wan Bridge would love to welcome you to explore one of our signature built-to-rent communities in Texas, where luxury and convenience intersect.
At the Residences at Rayzor Ranch, you can enjoy the amenities of a professionally-managed community just a short drive from the heart of the Dallas-Fort Worth Metroplex. The spacious floor plans feature upgraded finishes, flexible designs, and modern touches, with options ranging between 1,600 and 1,800 square feet. And because our management team handles all home maintenance and landscaping, you have the freedom to enjoy more time for yourself and your family.
Ideal for young professionals, families, and retirees alike, the Residences at Rayzor Ranch have become one of the best places to live in Dallas. Learn more about our Dallas-Fort Worth homes for rent when you contact Wan Bridge today.
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