Is DFW becoming less affordable? (Houston, Dallas: apartment complexes, rent, hotel)

[TurtleCreek80]

Originally Posted by TheOverdog

Right and Italians and other Europeans are a classier set of immigrants than Hispanics (i don't believe it personally, but sadly its true), so unless there is a grand northern European migration, Dallas is never going to match the cities of the north east in 'culture, night life, and restaurants'..

One has to be pretty small-minded to believe that European culture is the only "classy" culture in the world. Last time I checked, the "classy" immigrants from Ireland, Italy, and other European countries were VERY unwelcome in many parts of the US 100 years ago.

Dallas is a city for the 21st century; our peak years still lie ahead of us. 21st century immigrants hail from Mexico and Central America, China, India, Vietnam, etc. I'm sure they are delighted to hear that you find their culture and food be uncouth. Speaking of cities with great culture, have you been to Mexico City, Shanghai, or Mumbai? I love Boston, Philly, and Chicago, but I'm open minded enough to realize that "great culture" had more than one meaning. NYC is probably the only US city that keeps evolving and stays cutting edge across multiple centuries.

Culture changes over time. What was once considered obscene is now mainstream. What was once the hot new thing or place is now passé. Even NYC's famed Four Seasons restaurant shuttered this week after a 60-year run. Great Italian food isn't the hallmark of a great, modern city anymore. The world changes. We can choose to adapt and evolve or be stuck in the past, wishing for it to return.

[lepoisson]

Originally Posted by EDS_

That's just absurd. You sound like someone who lives in Plano, never leaves the city limits, and thinks "Dallas" doesn't have many trees.
Just a few examples:
All four of the big four pro sports only 13 cities can say that.
Two major now international airports - only a few cities can say that.
Two world class symphony centers.
Two world class museums.
Lots of great places to eat and shop.
A private k-12 scene that deserves mention with the best in the country.
DFW is in the top several cities by Fortune 500 HQs.
DFW is becoming a gateway for business and travel to Japan and other points in Asia.
DFW is poised to take great advantage of Brexit.
Exceptional ease of road travel throughout the city.

Here's the problem though... For many of these things, you actually have to leave the city. The same can't be said for places like Chicago, or smaller metros like Boston, San Francisco, and Miami.

If you want a big city experience, DFW definitely doesn't offer that. The entire metro feels very suburban to me.

Different strokes for different folks I guess. This just isn't the place for me long term.

[EDS_]

Originally Posted by LookingInRichardson

I used to think that in 2005 when I first moved here. I don't think that anymore. I think Dallas is a truer big city now than it was 10-15 years ago. Chicago does have the benefit of being an older and more established city and has the density and transportation system to go along with that. We don't have Portillos or the good Italian restaurants that Chicago does but it's a lot closer now than used to be in culture, night life, and restaurants.

I'm not trying to be a Dallas booster - I am not a native and I'm not a "I wasn't born in Texas but I got here as fast as I could" type. I've traveled the country/world a lot for business and have been to Chicago within the last couple of months. Maybe it's fairer to say that Dallas will in the 21st century what Chicago was in the 20th century. I think all things being equal I would prefer Chicago myself purely because of the weather - I'd rather it snow 3-4 months of the year than 100+ with humidity all summer long.

In any case, affordability-wise I still contend they have become very similar. Sure, you can buy a house in DFW for $175K but it will also either need a TON of work, or be in a less desirable area with poorer performing schools. The median sale prices of the 2 metro areas are now within $15K of each other with Dallas having nearly doubled in that measure over the past 10 years. Chicago increased about 8-9% over the same time period.

COL-wise there are tremendous differences between DFW and Chicago. We live in a nice home on a big lot that's anywhere between 10 and 20 minutes from downtown and worth a little over $1M. Replicating all of that in Chicago would be 2.5 or 3x the cost at least and probably more, not sure we could find a .8 acre lot in Chicago at all. It's pretty clear most people don't understand that for most working in DT Chicago means living way out and taking the L and then walking to ones building so total commute times in Chicago are brutal for many professional people.

From a percentage of income vs. rents perspective Dallas is about 10% less expensive than Chicago as well according to Governing Magazine.

I like Chicago and visit often 3x this year as a matter of fact..........real estate is higher there. That gap isn't what it once was though.

[LeagleEagleDFW]

Originally Posted by BigDGeek

Problem is, prices are going up anywhere that has a halfway decent job market. Price increases are great if you're going to retire to a low cost of living area, but it does you no good if you're trying to move somewhere where prices are going up just as fast (or faster).

I've already accepted that anywhere I am looking is at least double the cost of D/FW.

[EDS_]

Originally Posted by lepoisson

Here's the problem though... For many of these things, you actually have to leave the city. The same can't be said for places like Chicago, or smaller metros like Boston, San Francisco, and Miami.

If you want a big city experience, DFW definitely doesn't offer that. The entire metro feels very suburban to me.

Different strokes for different folks I guess. This just isn't the place for me long term.

You realize one has to travel to out of Boston to catch a Patriots game? Same in NYC. I think your reasoning here is dreadful. And The DMA, The Mort, The Nasher, Perot Museum, Love Field and The AAC and many more are all in Dallas and very close to each other?

[lepoisson]

Originally Posted by EDS_

You realize one has to travel to out of Boston to catch a Patriots game? Same in NYC. I think your reasoning here is dreadful. And The DMA, The Mort, The Nasher, Perot Museum, Love Field and The AAC and many more are all in Dallas and very close to each other?

Right, but on a day-to-day basis, most people living in Boston, San Francisco, and Chicago don't even need to leave the city.

If you want a city-like experience in DFW and decide to live in downtown Dallas or Fort Worth, you pretty much have to have a car, and to do anything but go out to eat, you have to drive to suburbia. So why even bother living in the city when you have to drive to the burbs for everything?

But back on the original topic... DFW cost of living is quickly approaching Chicago, but really lacks in a big city living experience.

[Aceraceae]

What do you have to drive to the suburbs for?

[HockeyDadof2]

I can't find the article but I recently read that DFW currently leads the nation in apartments under construction.

[#1soonerfan]

Originally Posted by Threestep

That was pretty much my take seven months ago. It was a spur of the moment move and a very good one financially, professionally and personally. What did I leave behind after five years in DFW? A lot of money for taxes, utilities, a few stores and a handful of nice folks.

I left Oklahoma City about 2.5 years ago and some days I really regret it. Yeah its a smaller market and you have to tolerate crazy weather and cartoonish state politics, but I cannot say Texas is a huge improvement on either. Its a very underrated town...reminds me a lot of Fort Worth. More importantly, I would likely be in a house there instead of renting a drafty townhouse in Addison. Hope you are enjoying it up there!

With that in mind, I work in the oil and gas industry and this past few years has been brutal, so I guess I have to count my blessings that I am employed down here. Dallas isn't a bad town....we have to be thankful for what we have

[EDS_]

Originally Posted by lepoisson

Right, but on a day-to-day basis, most people living in Boston, San Francisco, and Chicago don't even need to leave the city.

If you want a city-like experience in DFW and decide to live in downtown Dallas or Fort Worth, you pretty much have to have a car, and to do anything but go out to eat, you have to drive to suburbia. So why even bother living in the city when you have to drive to the burbs for everything?

1. I live in Dallas and on a day to day basis rarely leave the city.
2. Your send paragraph is just bogus. Except for one beer bar that I really like in Plano and to meet friends who live in the 'burbs I rarely go to the 'burbs for anything - at least not regularly. The best shopping, nightlife, hotels, restaurants, and cultural spots are in Dallas not the 'burbs. Arguing otherwise underscores your misconception(s).