You may wonder how expensive living in Denton truly is. As a bustling city close to major metropolitan areas like Dallas and Fort Worth, some speculate that housing and other living costs may give residents' wallets a workout.
However, others feel that with savvy shopping and knowing where to look, settling into Denton is finance-friendly.
Real estate companies in Denton TX often quote median home prices and rent amounts that cause eyebrows to raise. Seeing discussions from Dentonites on Reddit and other online spaces reveals managing expenses is achievable when conscious budgeting is enforced, and discretionary spending is modest.
Whether venturing to Denton represents an affordable choice or a financial stretch depends heavily on an individual's priorities and resources. However, we can present comparisons in terms of living costs to help you make better decisions.
Let's Look At Some General Living Costs in Denton Compared to Other Popular Areas in Texas, as mentioned by Forbes:
Let's compare the key cost factors.
Grocery And Other Goods/Services
According to the research, common goods and services prices are noticeably higher in Austin than in Denton. An individual's monthly expenses on grocery shopping, dining out at local restaurants, and utility bills are almost 11% more if one resides in Austin rather than Denton.
While staple food items like whole milk, bread, and coffee are similar in both cities, costs for non-food products like shampoo and over-the-counter drugs are relatively lower when purchased in Denton.
This is likely due to the presence of many reputed stores like Walmart and Target that offer competitive prices in Denton, thereby helping control the rise in everyday item costs.
Food/Dining Out
When comparing prices at popular supermarkets in Denton, such as Tom Thumb and Albertsons, to those in Austin, the costs for most food basics were consistent or slightly lower in Denton. However, dining out is where more prominent differences could be seen.
As Austin is renowned for its vibrant food scene, restaurant bills in the city territory tended to be steeper than those in Denton. Multiple real estate companies in Denton tx noted that families and individuals saved close to 15% on average by choosing to dine in Denton rather than Austin eateries with similar menus.
Average Home Rent
| City | Average Apartment Rent |
| Denton | $1,666 |
| Austin | $1,862 |
As the table above shows, renting a home is noticeably cheaper in Denton than in Austin. The average listed rental price for a one-bedroom apartment in Denton is nearly 12% lower than that in the capital city. This significant gap can be attributed to higher housing demand in Austin's rapidly growing tech hub.
Median Home Price
Analysis of home value data from the previous year revealed that the median sales price for houses in Denton was $488,902. Comparatively, it was $521,465 in Austin—roughly 4% higher. Thus, first-time home buyers and families relocating from other locations can expect more relief from real estate prices when settling in Denton over Austin. Being one of the leading Real estate companies in Denton TX, AY Realty Group can help you find the best possible home for your budget.
Healthcare Cost
The above bullet points reflect research findings that clearly show a sizeable 23% average decrease in individual healthcare expenditures for those residing in Denton rather than Austin. This major cost savings is likely credited to lower overhead costs for healthcare units in the relatively smaller city of Denton.
Monthly Utilities
When tallying up typical monthly bills for essential services, residents of Denton pay 11-12% lower than citizens of Austin on utilities. Electricity and gas rates established by providers like TXU Energy and Atmos Energy are more competitive for Denton addresses. Broadband and television packages from AT&T, Spectrum, and Suddenlink also feature better deals and lighter bills for Denton households.
Let us compare the common living expenses.
Grocery And Other Goods/Services
The cost of miscellaneous goods and services is 1.48% lower in Denton compared to Dallas. Everyday items like food, household supplies, and personal care are slightly more affordable here than in the bustling metroplex to our south.
Food/Dining Out
While dining options are plentiful in both cities, the prices for essential grocery items are often less expensive in Denton. For example, the average cost of a gallon of whole milk is $3.29 in Denton, yet $3.49 in Dallas. Similarly, a loaf of bread is priced at $2.99 versus $3.19 respectively. Other regularly purchased staples like ground coffee and shampoo generally have comparable or marginally lower pricing as well in Denton.
Average Home Rent
According to Forbes, the average monthly lease cost in Denton is currently $1,666. Though higher than Dallas' average of $1,570, Denton's rental rates have increased by only 5.76% compared to the past few years in Dallas.
Median Home Price
| City | Median Home Price |
| Denton | $488,902 |
| Dallas | $471,703 |
As the table above illustrates, Denton's median home value of $488,902 is 3.52% higher than Dallas' median price of $471,703. This indicates that while housing costs have risen in Denton, the increase has remained modest relative to other major Texas cities like Dallas.
Healthcare Cost
Perhaps most notably, healthcare expenditures tend to be significantly lower in Denton. On average, the prices for doctor visits, dental cleanings, eye exams, and prescription drugs are approximately 30.19% cheaper compared to the same services in the Dallas region.
This gives Denton residents an advantage in managing their health and medical budgets.
Monthly Utilities
Lastly, monthly bills for essential services like electricity, water, natural gas, and wireless phone services often run 24.64% less expensive for Denton households than counterparts in Dallas. Despite continuous population growth over the past decade, the slightly lower population density has kept demand and utility rates more reasonable.
Here is a comparison of costs between the two cities.
Grocery And Other Goods/Services
The cost of miscellaneous goods and services is 13.92% higher in Denton than in Cedar Park. This is likely due to Denton's proximity to large metropolitan areas like Dallas and Fort Worth, which drives prices up. Real estate companies in Denton also mention higher commercial rents in the city.
Food/Dining Out
Data shows that while prices for staple foods like whole milk and bread tend to be slightly lower in Denton, prices for other items like coffee and personal care products like shampoo are higher compared to Cedar Park. Restaurant owners in Denton cite rising costs of labor and supplies for higher dining prices in the city.
Average Home Rent
Statistics from multiple rental listing websites demonstrate that the average apartment rent in Denton ($1,666) is 20.95% higher than in Cedar Park ($1,317). Property managers say that student demand from the two universities pushes rents upward.
Median Home Price
| City | Median Home Price |
| Denton | $488,902 |
| Cedar Park | $455,189 |
As seen in the table, real estate listing sites show that the median home price in Denton is 6.90% higher than in Cedar Park. Local real estate companies in Denton TX attribute this to greater job opportunities and amenities in Denton.
Healthcare Costs
Sources observe that healthcare costs, including routine doctor visits, dental checkups, optometrist eye exams, and prescription drugs, are, on average, 12.50% lower in Denton compared to Cedar Park. This could be due to larger provider networks and more competition among health insurers in Denton's urban environment.
Monthly Utilities
Various utility provider websites demonstrate that average utility bills covering expenses like energy, water, trash collection, and phone services have a tendency to be 23.67% lower in Denton than in neighboring Cedar Park. Local real estate companies in Denton tx highlight that newer construction and improving infrastructure has made utilities more affordable.
Many factors need to be considered to determine what income is needed to live comfortably in Denton without major financial issues. Forbes calculates this livable salary benchmark by looking at typical expenses like housing, food, utilities, transportation, and more.
According to their analysis, maintaining a standard household living in Denton, TX would require $59,314 or more to meet their basic needs.
Expenses like housing, transportation, and food often increase substantially for families compared to individuals, while certain expenses remain relatively consistent. Additionally, lifestyle choices around housing, vacations, and entertainment can greatly impact the total costs of living.
Most financial experts recommend having a six-month emergency fund as part of their standard recommendation for a livable salary and financial stability. However, in Denton's growing economy, many residents find that an income above this livable salary benchmark provides greater choices and comfort.
With Denton's central location between Dallas and Fort Worth, residents have options to commute to jobs in either major metro or work locally.
Common high-paying career paths that meet or exceed Denton's livable salary include registered nurses, computer programmers, project managers, physical therapists, elementary school teachers, and various skilled industrial/mechanical roles.
Some local companies providing these types of roles include Denton Regional Medical Center and the University of North Texas.
Whether living in Denton proves cost-effective or costly comes down to one's specific needs and budget. For home buyers or renters seeking expert guidance about the local real estate market, the professionals at AY Realty Group pledge dedicated support.
As one of the well-established real estate agents in Denton TX, we can help you locate properties suiting your criteria and price range. Our team will work tirelessly to make your housing dreams in Denton a reality.
