While Fort Worth, Texas is similar to Dallas, some say it has a lot more to offer. Fort Worth is one of the 20 largest cities in the United States. Despite its large size, many of its neighborhoods have a country feel. It’s a growing city, adding more than 250 residents every day, as young professionals and families trade their urban surroundings for Fort Worth’s blend of the fascinating past and modern present.
Fort Worth has a vibrant downtown business community, a rich history, and a variety of entertainment options. It is home to several Fortune 500 companies and the headquarters of large companies such as GE Manufacturing Solutions, BNSF Railway and American Airlines at the Dallas-Fort Worth Airport. The presence of these elite companies makes Fort Worth a great place to build a career. What more could you ask for in a house?
What’s the cost of living in Fort Worth, Texas?
First, what does the cost of living mean?
Young graduates looking to start their careers in a new city or veterans looking to make a mid-career transition to a new location are familiar with this term. Cost of living refers to the average amount of money you would need for the basics of living, including rent, health care, groceries, transportation, and taxes, in a particular location. There are metrics, called cost of living indices, that help analysts determine the average amount needed to afford a decent living in a given location. These clues can help you compare the cost of living in different places. A higher cost of living index suggests that a city will likely be more expensive to live. So, is Fort Worth expensive to live in?
A cost of living index reveals that the cost of living in Fort Worth is 99.8 compared to a national average of 100, making the city slightly cheaper to live than the typical American city. Yet within this broader classification, the specific costs associated with the cost of living may vary. For example, Fort Worth’s transportation costs are a bit higher and house 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 Texas cities like Phoenix, Arizona, and Dallas, and cheaper than Chicago, Illinois, and Miami, Florida.
How much do I have to spend on the 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 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.
Additionally, there are other factors you will need to consider when determining your rental budget. If you have to live somewhere where the cost of living is higher due to work, you may need to spend more of your income on rent than if you lived somewhere more affordable. That said, salaries generally reflect the cost of living in a particular location. So if you have to live in a more expensive city, your salary will likely be higher to offset the added financial burden. Either way, these are the types of considerations you’ll need to take into account when deciding what to spend on rent each month.
You should also think about the trade-offs of living in a more or less expensive apartment. For example, you can find a more expensive apartment near your office. Or, you can consider cheaper accommodation further afield and spend more on transportation.
How much does an apartment cost in Fort Worth, Texas?
The average monthly rent for an apartment in Fort Worth is:
- Studio: $ 1061
- 1 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. The costs of renting an apartment with the same number of bedrooms can vary in a given city. This disparity is generally observed in more or less expensive neighborhoods or in an apartment building with more or less amenities.
Browse apartments for rent in Fort Worth
How do you 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 can take less than 24 hours to find out if you’ve been approved. Use filters for your price range, equipment, and preferences to find the right solution for you.
Where to get the cheapest rent in Fort Worth
Explore the most affordable neighborhoods and outlying suburbs of Fort Worth to find the cheapest rent in Fort Worth and surrounding areas. The Southlake is a half hour drive from downtown Fort Worth. The neighborhood offers many excellent infrastructure and entertainment options, including a good public school system and daily events held in Southlake Town Square. You can also take a look at Keller, named one of “America’s Best Small Towns” for its small town feel, historic charm, and urban amenities.
With approximately 25,000 residents, downtown Fort Worth is also a great place to live or visit, with a variety of concerts, shopping and dining.
Browse Fort Worth apartments for rent on Zumper and discover the most affordable apartments in the area.