What You Need to Know About the Cost of Living in Fort Worth
Neighborhood, buying a house, livability, safety, and cost of living in Fort Worth are some of the many things people must consider when moving to this thriving city. Fort Worth, in north central Texas, is a stunning metropolis consistently named among the fastest-growing in the United States. It has a vibrant Downtown area, an exciting city center, and is known for its job market, culture, and southern hospitality. The city also has a scorching real estate market. From high-rise condos, lofts, and family homes, homebuyers can easily find the ideal home they are looking for that suit their preference and budget. Moreover, the city has excellent and affordable living, so it is no doubt many young professionals and families are relocating to the area. With many conveniences and things to offer, living in Fort Worth means you can have the best of both worlds, and there is always something fun to do here!
Cost of Living Index
Fort Worth cost of living is reasonable and affordable and is one of the reasons why many people consider relocating to the city. This city has a lower cost of living than other cities and is far lower than Miami, Florida, Los Angeles, and California. Texas, as a whole, scores 93.9 on BestPlaces’ cost of living index compared to the national average of 100. Compared to the state average, Fort Worth ranks a little higher. According to the cost of living index, Fort Worth, the fifth-largest city in Texas, scores 99.8. While this may appear nearly equal to the United States, a fraction of a percentage point can significantly impact daily living, and the cost of living in other US cities is far more expensive. In Fort Worth, the average salary is around $50,000 a year. The cost of living is just 2% higher than the national average, and it is an excellent area to live in if you want to get the most out of your money since it has a cost of living that is the closest to that of Dallas, TX, and Phoenix, AZ.
Specific Cost of Living in Forth Worth
Understanding the cost of living FT Worth does not only end on the overall score but also by taking individual scores into account. Fort Worth has a low score of 85.5 on the housing index, which is one of the main determinants of a city’s overall cost of living, which is quite close to the statewide average of 84.3 and significantly below the national average of 100. Grocery cost is slightly lower than the national average, earning a score of 97.7. However, this is higher than the statewide average of 93.7. In terms of health cost, Fort Worth ranks slightly higher in this category, with a 99.4 out of 100. Expect a cost of living increase due to higher utility costs than the national and statewide average. Fort Worth earns a higher score of 113.9 in the transportation category because factors like auto insurance and tolls are significantly higher in Texas cities than in other parts of the country. Miscellaneous costs like entertainment, retail, restaurants, home repairs, and other goods and services earn 108.7 out of 100, but it is expected when living in one of the state’s largest cities.
Should you have any questions about the city of Fort Worth or further information about Fort Worth’s cost of living, you can visit our featured page at https://modelrealtytx.com/west-fort-worth-cost-of-living/ or get in touch with our team via email or call.