DFW affordable for middle class any more? (Houston, Dallas: homeowners insurance, good credit)

[ChristieP]

Originally Posted by Taynxtlvl

Dallas is not the steal it used to be. And it all happened within the last 7 to 8 years from what I understand. The millennial's are catching it rough. You need super nice dual incomes to make it happen and all the singles are definitely struggling. So many people moving here having previous equity and instant cash have made it tough. It can be found but you'll generally have to buy a lot older or further out. There should be a price correction soon though from my friends on the realtor side.

This is 100% true.

Part of the problem is you are commuting into downtown Dallas, which makes many of the more affordable suburbs too far away for you to have a reasonable commute. The suburbs that are close to downtown Dallas (Park cities) are outrageously expensive, and the areas of Dallas that are close to downtown are either expensive or have iffy schools.

If you worked in Plano, you would be able to look for homes in Plano, Richardson, Frisco, Allen, McKinney, etc. There are many affordable communities in those cities, but you wouldn't want to commute to downtown Dallas from there.

Many families live in the eastern suburbs: Rockwall, Rowlett, Garland, Sunnyvale, Forney. But again, some of those are not great commutes into downtown Dallas. You do have the option of the DART Rail from some cities, although it doesn't save a lot of commuting time.

Personally, I might recommend beginning a casual job change search so you could work in an area closer to more affordable homes. With the amazingly low unemployment rate right now (3.9%), I bet you'll find something quickly!

[bgNCATL]

If I'm understanding your post correctly, you and your spouse make roughly 155K per year combined right? Why are you speaking of 100k?

[NoClueWho]

Originally Posted by houstonview

Thank you we’re looking at some HEB areas, will just like to stay under $300k, it’s crazy to think we were in Houston 2 years ago and brand new or newer homes perfect schools 30mins out from the city we’re $230-250

Now $300k and have to put in some work or grab a townhome, we love our jobs both work in a service type of fields so hopefully things work out.

I feel your pain. I tell people all the time that DFW has quickly gotten noticeably more expensive than Houston. Soon, it will be just as---if not MORE expensive---than Austin.

[NoClueWho]

Originally Posted by Taynxtlvl

Dallas is not the steal it used to be. And it all happened within the last 7 to 8 years from what I understand. The millennial's are catching it rough. You need super nice dual incomes to make it happen and all the singles are definitely struggling. So many people moving here having previous equity and instant cash have made it tough. It can be found but you'll generally have to buy a lot older or further out.

Sadly, this is all very true.

[bgNCATL]

Originally Posted by houstonview

Thank you we’re looking at some HEB areas, will just like to stay under $300k, it’s crazy to think we were in Houston 2 years ago and brand new or newer homes perfect schools 30mins out from the city we’re $230-250

Now $300k and have to put in some work or grab a townhome, we love our jobs both work in a service type of fields so hopefully things work out.

I'm not sure about Houston's current housing market, but you wont find that in Dallas at all with perfect schools and 30 minute commute. You can find those numbers on the south side and parts of Ft. Worth however the hood will be very near in most cases. outside of those areas, entry level prices will be $350 and up.

[BigDGeek]

Originally Posted by Tex Luthor

I feel your pain. I tell people all the time that DFW has quickly gotten noticeably more expensive than Houston. Soon, it will be just as---if not MORE expensive---than Austin.

I thought we were there already.

[bgNCATL]

Originally Posted by houstonview

I see a lot of threads of people moving here saying budget is $400k-$500k work in IT etc I get it you make good money and may not have a child that’s in daycare or loans, or selling a home that you have equity on from the DFW air another state.

My family we have masters degrees just turned 30 make $80k and $70-75k respectfully starting off in jobs we love.

However we are still having a hard time finding a decent home with a mortgage around $2,000-$2,200 in a good school area without a horrible commute. I’m not saying schools have to be perfect 10,9s but at least a 7 across is idea.

So what do people do that make $100k combined with a child trying to raise a family in a safe good school area? That’s what we made 3 years ago so I could only imagine how tougher that would be.

Some can say go further out from Dallas area, but you can go to Coppell, Plano, frisco, Farmers Branch, euless, ,Irving Addison and still be in a shack for $300k and may even end up in a bad school area. The house below is Addison zoned to bad schools 4K feet lot...

This could be somewhat affordable but not idea at all to spend $350k on, so my question

https://www.zillow.com/homedetails/3...26937165_zpid/

is that $2000 to $2200 per month including Taxes and home insurance? Also remember, if you don't have 20 percent down, your looking at PMI which would another $400 to $500 a month to your payment until you pay your mortgage down to 80 percent.

[BigDGeek]

Originally Posted by bgNCATL

is that $2000 to $2200 per month including Taxes and home insurance? Also remember, if you don't have 20 percent down, your looking at PMI which would another $400 to $500 a month to your payment until you pay your mortgage down to 80 percent.

Don't forget HOA dues. Most people seem to want "new" houses and those usually come with HOA dues.

[NoClueWho]

Originally Posted by BigDGeek

I thought we were there already.

Personally, I would not completely disagree with you. It's just funny to me how the national media keeps on squawking about Austin as THE hottest city in Texas, yet the largest amount of transplants and the corresponding rise in cost of living seem to have been hitting DFW the most over the past 3-5 years. I would argue that many people in Texas know and realize that---and certainly those of us in North Texas do---but I keep waiting to see when the national media that built Austin up as THE Texas city is going to realize it and catch on; at this point, it really wouldn't matter much anyway, though, as we are already headed toward 8 million residents in the metro (!), and most solidly middle class people/families are already feeling the pinch and are getting priced out, if they haven't been already been.

[BigDGeek]

Originally Posted by Tex Luthor

Personally, I would not completely disagree with you. It's just funny to me how the national media keeps on squawking about Austin as THE hottest city in Texas, yet the largest amount of transplants and the corresponding rise in cost of living seem to have been hitting DFW the most over the past 3-5 years. I would argue that many people in Texas know and realize that---and certainly those of us in North Texas do---but I keep waiting to see when the national media that built Austin up as THE Texas city is going to realize it and catch on; at this point, it really wouldn't matter much anyway, though, as we are already headed toward 8 million residents in the metro (!), and most solidly middle class people/families are already feeling the pinch and are getting priced out, if they haven't been already been.

Texas is ruined. Austin was ruined 15 years ago and it's a hellhole now. Dallas has never been great but it's insufferable now. What are the other options...San Antonio?!?! Houston?!?!