The cost of living in Irving is comparable to living in most other cities in Texas. However, unlike most cities in the Lone Star State, living in Irving is 3% higher than the US average. Food, transportation, and housing expenses have all risen in recent years, resulting in a high cost of living.
Irving sits at the northeast corner of Texas and is the state’s thirteenth most populous city. As a major city in the Dallas/Fort Worth Metroplex, it is home to about 230,000 people with over 3.3 million members of its workforce.
Its convenient location offers two airports and a sprawling urban business district that are attractive to the corporate world. This Texas city houses 8,500 local and multinational companies, including the international head offices of five Fortune 500 corporations and over 45 Fortune 1,000 corporations.
Cost of Living in Irving, Texas
Housing Costs
The relatively high cost of living in Irving, Texas, is primarily due to high housing costs. According to experts, the Dallas-Fort Worth metroplex will be the sixth hottest property market in the US by 2021. Irving’s housing costs are 4% more than the US average, and homes do not stay on the real estate market for long.
The average house costs $360,997. If you already reside in Texas and want to sell your house in Irving, at United Home Offer, we buy houses in Texas. Selling your former property can help ease the costs of getting a new place. So don’t let the median home value stop you from moving to your dream home.
In regards to rent, the following are examples of the typical rents in Irving for a contemporary space with no furniture:
- A studio apartment costs $1,206/mo.
- A one-bedroom apartment costs $1,095/mo.
- A two-bedroom apartment costs $1,499/mo.
Without including utilities and maintenance costs, three-bedroom flats and freestanding mansions may cost up to $5,000.
Cost of Utilities
Water, energy, and home maintenance fees are just a few of the extra living expenditures in a house. The average monthly cost of the city’s major utility bills is around $300. The average monthly price of gas is $40, electricity is $178, and water is $50.
Because utilities account for a higher rent, consider reducing by paying the lowest rent possible. The actual cost of utilities fluctuates based on location and other variables. The power bill will eat up the lion’s share of your utility expenditure.
Transportation Costs in Irving
Irving is a car-centric city. However, you can still get about by taking rideshare, walking, or taking public transportation. The less you rely on your automobile, the less money you’ll have to spend. As a single adult, you can expect to pay about $5,113 per year on transportation. The cost of transportation for a household of three (two working adults and a child) is $9,378 per year.
Since private vehicle culture is the norm, you’ll need to budget for petrol properly. The cost of gasoline in Irving is relatively low. The price of gas fluctuates at $2.08 per gallon. In Irving, finding a parking spot might be difficult. However, it is easier than finding one in Los Angeles or New York.
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