Compared to just six years ago, homebuyers in Dallas-Fort Worth need to earn nearly 50% more to afford a median-priced home in the metroplex.
Shockingly, DFW’s jump since 2019 pales in comparison to the national average, according to data from Realtor.com. Nationwide, homebuyers need to earn $114,000 per year to afford a median home, a more than 70% surge from the $67,000 needed six years back.
In DFW, homebuyers need to earn $113,668 to afford the median home price, reported the Dallas Business Journal. The median price for home listings in the DFW area is $430,000, according to the Realtor.com analysis.
Part of the reason North Texas has seen prices rise so much in recent years is the influx of new residents. As reported earlier this year by The Dallas Express, Dallas-Fort Worth was named the top U-Haul Growth Metro of 2024.
At the time, Sean Fullerton, U-Haul Company’s South Central Dallas president, said the Dallas metro area attracts people because of its thriving job market, attractive living conditions, and “affordable” cost of living.
Dallas’ 75201 ZIP code, for example, was ranked No. 20 on the Business Journals’ second-quarter analysis of the country’s hottest housing markets. During the quarter, the ZIP code recorded an average sale price of $2,556,707, a staggering 63.4% higher than just one year prior.
Nationwide, San Jose, California demands the highest income, at $370,069, to afford a median-priced home in the city, followed by Los Angeles ($315,892), and San Francisco ($263,023).
