The cost of living in Garland, Texas is something that someone who is moving to or out of Texas should be aware of. Garland, Texas is part of the Dallas–Fort Worth metroplex and is located northeast of Dallas. But for a minor part of Collin and Rockwall counties, it is nearly entirely within Dallas County. The Granville Arts Center, the Nicholson Memorial Library System, and Firewheel Golf Park are only a few of the entertainment options available to Garland residents and tourists.
During the last decade, the city of Garland has experienced revitalization, with several new recreational venues opening across the city to offer more opportunities for the city’s residents and tourists. Since it is becoming a real estate hotspot, we discuss the cost of living in Garland here.
Debt-to-Income Ratio in Garland, Texas
Housing affordability in Garland, Texas, and the average cost of living, can be gauged by the percentage of monthly income expended on housing. As a general rule, a homeowner’s or renter’s debt-to-income ratio (DTI) does not exceed 28% of gross income for housing-related expenditures and 36% of gross income for all expenses, including debts.
The estimated household income in Garland is $64,224. This allows you to spend a limit of $1,498 per month on rent. Renters have a net monthly income of $35,833, which means they can spend up to $836 on rental expenses.
Housing Costs in Garland, Texas
Garland’s median family income is significantly higher than the US median family income. The median home price in Garland is about $103,354, which is slightly below the national average but comparable to similar real estate rates in other cities in the area.
The average apartment rent in Garland is $1,130, up 2% from the previous year. Bella Vista has an average rent is $985/month, English Estates, where the average rent is $985/month, and Orchard Hills Estates, where the average rent is $985/month, are the most accessible neighborhoods in Garland.
Check out the listings from Ridgecrest Park Estates ($985), Ridgewood Estates ($985), and Saturn Springs Estates ($985), both of which have to ask rates that are less than the typical Garland rent of $1,130 a month.
Transportation Costs in Garland
Transportation costs are higher than the US average, but they are still very modest. The price of fuel is fair, with a gallon costing between $1.40 and $2.00. The premiums for car insurance are marginally smaller than the national average. Your prices will be determined by your driving experience, vehicle type and make, and other considerations.
Most people in Garland drive to work in their cars, about 85% doing so alone or by carpool. Working from home is the second most prevalent mode of transportation, accounting for 7%. In contrast, public transportation, walking, bicycling, and all other modes account for just 9%.
Cost of Food in Garland
Though meal costs in Garland vary, the average daily food cost in Garland is $28. Based on previous travelers’ spending patterns, an average meal in Garland could cost about $10 per person while dining out. Breakfast is typically less expensive than lunch or dinner. Service in sit-down restaurants in Garland is often more expensive than fast food or street food.