The 10 Cheapest Dallas, TX Neighborhoods To Live In For 2021


We used science and data to determine which neighborhoods in Dallas are the cheapest of the cheap.

Editor’s Note: We updated this article for 2021. This is our third time ranking the cheapest neighborhoods to live in Dallas.
Cheapest Neighborhoods In Dallas

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I'd much rather pay $500/mo in rent than $1,000. And I'd rather pay $2 for coffee than $5.

And while every neighbhorhood in Dallas might be more expensive than living in rural Texas, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Dallas neighborhoods where your dollar goes a little further -- you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Dallas are the cheapest.

What's the cheapest neighborhood to live in Dallas for 2021? According to the most recent census data, Lake Highlands looks to be the cheaptest Dallas neighborhood to live in.

At this point we should make it clear that you do get what you pay for -- some of these neighborhoods might not be the best places to live in Dallas. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Dallas that deserve a little bragging rights or maybe you're interested in the worst neighborhoods in Dallas.

Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Texas reading, check out:

How We Determined The Cheapest Dallas Hoods In 2021

In order to rank the cheapest places to live in Dallas, we had to determine what criteria defines "cheap".

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 32 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the "Cheapest City Neighborhood In Dallas." We're lookin' at you, Lake Highlands.

Read on below to learn more about what it's like to live in the cheapest places Dallas. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 10 Cheapest Neighborhoods To Live In Dallas For 2021

Overall SnackAbility

7
/10

Population: 55,362
Cost Of Living Index: 91 (9th cheapest)
Home Value To Income Ratio: 1.4 (cheapest)
Rent To Income Ratio: 0.016 (10th cheapest)
More on Lake Highlands: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 36,321
Cost Of Living Index: 87 (cheapest)
Home Value To Income Ratio: 1.9 (6th cheapest)
Rent To Income Ratio: 0.018 (15th cheapest)
More on Wolf Creek: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 10,475
Cost Of Living Index: 91 (9th cheapest)
Home Value To Income Ratio: 1.6 (4th cheapest)
Rent To Income Ratio: 0.018 (20th cheapest)
More on Love Field Area: Homes For Sale | Data

South Dallas Dallas, TX

Overall SnackAbility

3
/10

Population: 28,901
Cost Of Living Index: 88 (2nd cheapest)
Home Value To Income Ratio: 1.7 (5th cheapest)
Rent To Income Ratio: 0.023 (27th cheapest)
More on South Dallas: Homes For Sale | Data

Overall SnackAbility

8
/10

Population: 874
Cost Of Living Index: 100 (15th cheapest)
Home Value To Income Ratio: 1.6 (3rd cheapest)
Rent To Income Ratio: 0.018 (19th cheapest)
More on West End Historic District: Homes For Sale | Data

Overall SnackAbility

5
/10

Population: 105,590
Cost Of Living Index: 94 (14th cheapest)
Home Value To Income Ratio: 2.1 (9th cheapest)
Rent To Income Ratio: 0.018 (18th cheapest)
More on Southwest Dallas: Homes For Sale | Data

Far North Dallas, TX

Source: Public domain
Overall SnackAbility

9
/10

Population: 163,453
Cost Of Living Index: 103 (18th cheapest)
Home Value To Income Ratio: 2.9 (17th cheapest)
Rent To Income Ratio: 0.012 (6th cheapest)
More on Far North: Homes For Sale | Data

Overall SnackAbility

4
/10

Population: 63,686
Cost Of Living Index: 88 (2nd cheapest)
Home Value To Income Ratio: 2.1 (8th cheapest)
Rent To Income Ratio: 0.027 (3cheapest)
More on Cedar Crest: Homes For Sale | Data

Overall SnackAbility

8.5
/10

Population: 241,397
Cost Of Living Index: 105 (20th cheapest)
Home Value To Income Ratio: 2.9 (15th cheapest)
Rent To Income Ratio: 0.013 (7th cheapest)
More on Northeast Dallas: Homes For Sale | Data

Near East Dallas, TX

Overall SnackAbility

8.5
/10

Population: 11,216
Cost Of Living Index: 102 (16th cheapest)
Home Value To Income Ratio: 1.6 (2nd cheapest)
Rent To Income Ratio: 0.02 (24th cheapest)
More on Near East: Homes For Sale | Data

Summing Up The Cheapest Places In Dallas

If you're measuring the neighborhoods in Dallas where prices are low and it's cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Dallas aren't all cheap. Farmers Market District takes the title of the most expensive neighborhood to live in Dallas.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Texas reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Dallas For 2021

Rank Neighborhood Cost Of Living Index
1 Lake Highlands 91
2 Wolf Creek 87
3 Love Field Area 91
4 South Dallas 88
5 West End Historic District 100
6 Southwest Dallas 94
7 Far North 103
8 Cedar Crest 88
9 Northeast Dallas 105
10 Near East 102
11 City Center District 103
12 Urbandale-Parkdale 90
13 Southeast Dallas 89
14 Cockrell Hill 93
15 Winnetka Heights 93
16 Preston Hollow 116
17 Oak Lawn 112
18 South Boulevard-Park Row 91
19 M Streets 113
20 Eagle Ford 94
21 Oak Cliff 104
22 Five Mile Creek 90
23 Bluffview 137
24 North Dallas 140
25 University Park 217
26 Reunion District 127
27 Government District 121
28 Main Street District 121
29 Northwest Dallas 90
30 Highland Park 243
31 Convention Center District 145
32 Farmers Market District 134

Talk To A Relocation Expert

Need help figuring out where to move? Email YouTube star Nick Johnson at [email protected].

It's $200 for a phone consultation, and you'll go over politics, weather, cost of living, schools, culture and more to discover which city is the PERFECT place for your family to move to.

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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