What does it actually cost to live in Fort Worth?

One person's affordable is another person's financial stress.

The cost of living in Fort Worth depends heavily on where you live, what you drive, how much house you buy, your property taxes, your insurance, and what you want your life to look like outside of your mortgage.

So instead of giving you one magic number, let's break it down.

Housing. Taxes. Insurance. Utilities. Transportation. Food. Fun.

Because the purchase price is only part of the equation.

01. HOUSING

YOUR HOME WILL PROBABLY BE YOUR BIGGEST EXPENSE.

And this is where Fort Worth gets interesting.

You can spend your housing budget very differently depending on where you choose to live.

A historic bungalow in central Fort Worth, a newer home in North Fort Worth, a suburban house in Keller or Aledo, and an acreage property farther west can all offer completely different lifestyles, and completely different monthly costs.

WHAT TO BUDGET FOR:

Mortgage
Principal + interest

Property taxes
Texas property taxes can be a significant part of your monthly payment.

Homeowners insurance
Get an actual quote before assuming a home fits your budget.

HOA fees
Especially common with newer communities.

Utilities
Electricity, water, trash and internet.

Maintenance
Because something will eventually break.

02. PROPERTY TAXES

THE TEXAS TRADE-OFF PEOPLE NEED TO UNDERSTAND

TEXAS DOESN’T HAVE INDIVIDUAL STATE INCOME TAX

But if you're buying a home here, property taxes deserve a very real place in your budget.

Your property tax bill depends on the property's taxable value and the taxing entities that apply to it. Rates can also change from year to year. For the full breakdown of exemptions, the appraisal cap and the protest deadline, read my Fort Worth property taxes guide.

Don't use someone else's tax bill as a guarantee of what yours will be.

When you're comparing homes, I want you looking at the entire monthly payment, not just the list price.

Moshera’s Rule: If you can't comfortably afford the payment after taxes + insurance, you can't comfortably afford the house.

03. HOMEOWNERS INSURANCE

GET THE QUOTE BEFORE YOU FALL IN LOVE.

Homeowners insurance is one of those expenses that's easy to overlook when you're scrolling through listings.

Don't.

Your premium can vary based on the home's location, age, construction, roof, coverage and other factors.

And in Texas, weather is part of the conversation.

BEFORE BUYING, CHECK:

• Homeowners insurance quote

• Deductible

• Roof age

• Wind/hail coverage

• Flood risk where applicable

• Any additional coverage you may need

A house that looks affordable on Zillow can look very different once you know the actual insurance cost.

04. UTILITIES

WHAT DOES IT COST TO KEEP THE LIGHTS ON?

Your utility costs will depend heavily on the size and age of your home, insulation, HVAC system, how you use your thermostat, and the season.

And Fort Worth summers can put your AC to work.

YOUR MONTHLY BILLS MAY INCLUDE:

• Electricity - Often one of the biggest variable utility expenses.

• Water + sewer

• Trash

• Internet

• Gas - Depending on the home.

TIP: When you're seriously considering a house, ask the seller or agent for historical utility information when available.

05. GETTING AROUND

FORT WORTH IS A DRIVING CITY.

This is one of the biggest lifestyle expenses people underestimate when moving to DFW.

Where you live affects how much you drive.

And how much you drive affects your:

• Gas bill

• Vehicle maintenance

• Toll bill

• Insurance

• Time

• Sanity

If you're moving here for work, look at your commute before you choose your house.

A cheaper house 30 minutes farther away isn't necessarily cheaper if you're spending hours every week in your car.

06. EVERYDAY EXPENSES

THEN THERE'S EVERYTHING ELSE.

• GROCERIES - Your grocery bill will depend much more on how you shop than on your ZIP code.

• RESTAURANTS - Fort Worth has everything from quick casual spots to destination dining. Your social life can be as expensive or inexpensive as you make it.

• COFFEE - A necessary budget category. Obviously.

• FITNESS - Gym memberships, studios, running clubs, pools, etc.

• ENTERTAINMENT - Concerts, museums, sporting events, nightlife and Fort Worth's many local events.

• OUTDOORS - One of the underrated perks: plenty of parks, trails and outdoor spaces that don't require an expensive weekend getaway.

07. RENTING VS BUYING

SHOULD YOU RENT FIRST?

If you've never lived in Fort Worth, renting for a year can be a perfectly reasonable strategy.

It gives you time to:

• Learn the city

• Experience different neighborhoods

• Figure out your commute

• Understand what you actually want

• Save more money

• Avoid buying somewhere you end up hating

On the other hand, if you're financially ready and know where you want to be, buying may make sense.

There's no prize for buying the fastest.

08. MOSHERA’S TAKE

DON'T LET A LENDER SET YOUR LIFESTYLE.

A lender can tell you what you're qualified to borrow.

That doesn't mean it's what I want you spending.

I want you to have room for dinner with friends.

A weekend trip.

A broken water heater.

A renovation you actually want to do.

And a life outside your house.

Your home should support your life, not become your entire life.