Living with 75K in Dallas (Richardson: renters, car insurance, how much)

[raj1971]

Dear All,

I have plan to move to Dallas from India, I am married with 2 kids (Below 7 years age).
Please guide me how much will be the cost of living in Dallas with 75K per annum.
Kindly explain me how much cost will be on the below items per month/year

Income Tax
House Rent
Insurance
Child Education
Medical
Grocery Expenditure
others

Thanks in advance.

Regards
Raj

[KantLockeMeIn]

Originally Posted by raj1971

Dear All,

I have plan to move to Dallas from India, I am married with 2 kids (Below 7 years age).
Please guide me how much will be the cost of living in Dallas with 75K per annum.
Kindly explain me how much cost will be on the below items per month/year

Income Tax
House Rent
Insurance
Child Education
Medical
Grocery Expenditure
others

Thanks in advance.

Regards
Raj

State Income Tax, $0 (we have none). Federal Income tax depends on how many deductions you can claim, how much you can defer (retirement savings like 401k), etc. At worst federal can be $15k for $75k of income, but I would expect it to be $12.5k per year.

Rent, $1200 - $1400 / month in Richardson for 3 bed 2 bath 1800sqft home. I say Richardson because it has a larger Indian population than most areas here... it'd be a good place to start at least. But if your job is elsewhere, let us know and we can make recommendations.

Insurance, Renters insurance runs maybe $200 a year (it covers your posessions, not the structure, the owner pays for the structure's insurance), car insurance depends on the car and your age, and driving record. We pay around $50 a month for my 2002 Ford Taurus and I have a good driving record.

Education, "free", schools are good here no need for private school
Medical, depends on your condition, age, and if your employer covers insurance.

Groceries, I have no idea how much compared to India... it really depends on your diet.

[ManBoobs]

Originally Posted by twojciac

Groceries, I have no idea how much compared to India... it really depends on your diet.

So true. If you really want/need healthy food it can increase a lot your food expenses.

[nsumner]

Originally Posted by raj1971

Dear All,

I have plan to move to Dallas from India, I am married with 2 kids (Below 7 years age).
Please guide me how much will be the cost of living in Dallas with 75K per annum.
Kindly explain me how much cost will be on the below items per month/year

Income Tax
House Rent
Insurance
Child Education
Medical
Grocery Expenditure
others

Thanks in advance.

Regards
Raj

Hello Raj,

With 75K in Dallas, you can live comfortably.

I would say that you are looking for about 1200-1500 for rent. There is some cheaper, it just depends what you are looking for.

Education - Public school is free unless you want to send them to private school
Is your employer not offering you medical insurance through the company? if not, then it can be expensive depending on the plan... several hundred dollars a month.

You will need a car here, we don't have a very good public transportation system unfortunately. That would depend on what you want to drive and your budget... 200-400 a month

We have a big presence of people from India, you will see that Dallas is very diverse. What part of India are you coming from? I will be happy to put you in touch with a friend of mine that can give you comparisons and advice etc.

Naima