Cost of Living in Lake Dallas, TX

With a cost of living index of 102, Lake Dallas, TX is right around the national average in cost. Living here is 2% more expensive than the national average and 14% above the Texas state average of 88. Lake Dallas is a smaller community of 7,761 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Lake Dallas's cost of living. The median monthly rent is $1,507 (14% above the US median of $1,319), and the median home value sits at $245,100 (20% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lake Dallas is $74,241, which is 1% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Lake Dallas. The area sees an average annual temperature of 64.5°F, with summers averaging 83°F and winters around 46°F. Annual rainfall totals 35.6 inches spread over roughly 82 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Dallas-Fort Worth-Arlington, TX (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.