When looking into the cost of living in Denton, Texas, you should know that the vibrant city is located in Texas at the northern edge of the Dallas-Fort Worth area. The area has a college town vibe, as it’s home to the University of Northern Texas (UNT). Most economic activities revolve around educational institutions here. The party scene is located on Fry Street, an area with a rich history and counterculture spirit, and is currently home to the best restaurants and bars in the area. Here’s what you need to know about the cost of living in Denton before making your move here.
The Cost of Living in Denton, TX
Various factors determine the cost of living in any city, such as housing, transportation, utilities, and health costs. Denton falls below the national average when compared to other cities in the U.S.
Since there are very few homeowners in Denton and most of the population relies on renting, rent is the most significant contributor to a high cost of living. On an index where the national average is 100, Denton goes up to 101.1 compared to most other Texas cities that rank at 84.3.
Compared to other cities nearby, Denton is a bit expensive for its residents because the main population is the younger generation, whose way of life pushes the cost of living higher.
How expensive is an apartment in Denton?
A standard one-bedroom house or apartment that many renters prefer costs an average of $897 in Denton. A two-bedroom house costs around $1,150 per month, and a studio apartment goes for about $700 per month. The prices for these houses are lower when compared to the Dallas–Fort Worth metropolis and some other major cities in the state.
How do I find a cheap apartment in Denton?
Although it can be moderately challenging, finding a cheap apartment in Denton is possible. When searching for an apartment, you can drastically reduce the cost by considering the main factors affecting rent rates, such as:
- Location: Apartments that are often nearer to the central business district (CBD) and other social amenities cost more. Consider living farther out to reduce your rent costs.
- Interior decor: Fully furnished apartments with detailed interior decor attract a premium price. Therefore, opt for a house that has no furniture or with simple decoration.
- State of the apartment: Expect higher prices in newer neighborhoods with gated communities. However, you can find cheaper housing in older areas with shared amenities.
- Utilities: You can only consider an apartment to be cheap when the other utilities are manageable and within your budget. Before signing a lease, calculate the extra charges, such as maintenance, electricity, gas, and water fees.
- Rent a room: Renting a single room is cheaper than renting the entire house, but you still access the amenities. For example, when you rent a two-bedroom house that costs $2,000 with a roommate, you each pay half of that per month. However, there are essential factors to consider before renting a room.
You can check the available listings of apartments through various online service providers who understand your requirements to get a house within your budget, despite the rising cost of living in Denton, Texas.
As a renter, have a flexible mind when it comes to your housing options. An apartment located where you can afford and is convenient for your needs is an ideal choice and automatically cheaper. Many renters use the 30% rule, which states that your rent should not exceed 30% of your income. Keep in mind that cheap depends on the apartment’s market value and your income. You can always use a rent calculator to determine how much you should spend on rent every month.
What is the cheapest rent in Denton?
The cheapest rent is for a studio apartment, going for roughly $700 in most neighborhoods. Other house sizes also have varying rents, but the most affordable one-bedroom apartment goes for approximately $1,020, while a two-bedroom costs $1,238 per month. A three-bedroom house costs $1,648, with a four-bedroom place costing $2,142 per month.
To determine the cheapest rent, consider your income, preferences, and cost of living in Denton, Texas. Once you identify the most relevant factors for your situation, you can search for a cheap house. Keep in mind that landlords also factor in rental fees for pets, application fees, rent deposits, and lease periods when determining the rent for your house. Therefore, you should also inquire about those issues when looking for a cheap home in Denton.
You can still find an apartment that suits your budget by balancing all essential factors, such as location and amenities. For example, as a professional who requires commuting every day, you can find cheap housing by prioritizing a prime location and compromising the social luxuries that may not apply to your lifestyle, such as a swimming pool.
When researching the cost of living in Denton, Texas, keep in mind your budget and monthly expenses. Then, start your apartment search and find your perfect home in Denton.
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