While Fort Worth, Texas, is similar to nearby Dallas, some argue that it has a lot more to offer. Fort Worth is among the 20 biggest cities in the United States. Despite its large size, many of its neighborhoods have a country vibe. It’s a rapidly expanding city, adding more than 250 residents each day, as young professionals and families trade their city environments for Fort Worth’s blend of fascinating past and modern present.
Fort Worth has a vibrant downtown business community, a rich history, and a variety of entertainment options. It hosts several Fortune 500 companies and headquarters of major companies such as GE Manufacturing Solutions, BNSF Railway, and American Airlines at the Dallas-Fort Worth Airport. The presence of these elite corporations makes Fort Worth a great place to have a career. What more can we ask for in a home?
What is the cost of living in Fort Worth, Texas?
First, what does cost of living mean?
Young graduates looking to kickstart their careers in a new city or veterans seeking to make a mid-career transition to a new location would be familiar with this term. Cost of living refers to the average amount of money you would need for basics of living, including rent, healthcare, groceries, transportation, and taxes, in a particular place. There are metrics, called cost of living indices, that help analysts determine the average amount needed to afford a decent life in a particular locale. These indices can help you to compare the cost of living in different places. A higher cost of living indices suggests a city is likely to be more expensive to live in. So, is Fort Worth expensive to live in?
One cost of living index finds that Fort Worth’s cost of living is 99.8 compared to a national average of 100, which makes the city slightly cheaper to live in than the typical American city. Still, within this broader ranking, specific costs associated with the cost of living can vary. For example, Fort Worth’s transportation costs are a bit higher and housing prices are a bit lower than the national average.
Another report estimates that the cost of living in Fort Worth is roughly equivalent to that of Texan cities like Phoenix, Arizona, and Dallas and cheaper than Chicago, Illinois, and Miami, Florida.
How much should I spend on rent?
How much you should spend on rent will depend on your overall budget. There are different rules of thumb for calculating how much of your income you should spend on rent. One of the most common of these is the 30% rule, which recommends that you use about 30% of your pre-tax income for rent. For example, if your income is $2,500 per month before taxes, you should be looking to spend about $750 per month on rent.
Also, there are other factors you’ll need to consider when determining your budget for rent. If you need to live in a place with a higher cost of living due to work, you may need to spend more of your income on rent than you would if you lived in a more affordable place. That said, salaries generally reflect the cost of living in a particular place. So, if you need to live in a more expensive city, your salary will likely be higher to compensate for the additional financial burden. Regardless, these are the kinds of considerations you will need to take into account when deciding what you will spend on rent each month.
You should also think about the tradeoffs of living in a more, or less, expensive apartment. For example, you may find a more expensive apartment that is close to your office. Or, you could consider cheaper accommodation farther away and spend more on transportation.
How expensive is an apartment in Fort Worth, Texas?
The average monthly rent for an apartment in Fort Worth is:
- Studio apartment: $1,061
- One-bedroom apartment: $1,011
- Two-bedroom apartment: $1,345
- Three-bedroom apartment: $1,750
- Four-bedroom apartment: $2,010
Keep in mind, however, that these are average prices. Rental costs for an apartment with the same number of bedrooms could vary across a given city. This disparity is usually seen in more, or less, expensive neighborhoods or in an apartment building with more or fewer amenities.
How do I find cheap apartments in Fort Worth?
Online marketplaces, like Zumper, have easy-to-use platforms that help you find affordable apartments in Fort Worth. They allow you to search for verified properties, take a virtual tour, and even apply for an apartment — which could take less than 24 hours to find out whether you’ve been approved. Use filters for your price range, amenities, and preferences to find the right fit.
Where to Get the Cheapest Rent in Fort Worth
Explore Fort Worth’s most affordable neighborhoods and outlying suburbs to find the cheapest rent in Fort Worth and around. The Southlake is a half-hour commute from Fort Worth’s downtown. The neighborhood offers many great infrastructure and entertainment options, including a good public school system and daily events held in Southlake Town Square. You could also take a look at Keller, named one of “America’s Best Small Towns” for its small-town feeling, historic charm, and city conveniences.
With about 25,000 residents, downtown Fort Worth is also a great place to live or to visit, with a variety of live music, shops, and restaurants.
Browse apartments for rent in Fort Worth on Zumper and discover the most affordable apartments in the area.
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