Cheap Homes For Sale in Fort Worth TX | Zillow (2024)

FAQs

Are home prices dropping in Fort Worth? ›

The median home price in Fort Worth in January dipped down to $315,000. This was a 1.6 percent decrease year over year, and the lowest that prices have been in Fort Worth since the fall of 2021.

Fort Worth, Texas's cost of living is 4% lower than the national average. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area.

1. Southlake, TX. If you're looking to settle down in one of the nicest Fort Worth suburbs, then you should definitely check out Southlake. Residents love the tight-knit atmosphere of the community, especially when it comes to Friday night football!

A business-friendly climate with relaxed construction regulations and lower labor costs, in addition to a favorable tax structure with no state income tax and lower property taxes, contributes to making Texas housing more affordable.

Sale-to-list price ratio: 98.77% Fort Worth, TX is a buyer's market in July 2024, which means that the supply of homes is greater than the demand for homes.

According to the city, there's about a 23,000-unit gap in housing affordability in Fort Worth. "So that ranges from people that are making between 80% of area median income, which is somewhere around $50,000 a year down to people that are making no income," she said.

According to a new SmartAsset report, single adults living in Fort Worth and Arlington require a $94,765 yearly salary in order to live comfortably in 2024. That figure represents a jaw-dropping $30,023 more than they needed in 2023, when Fort Worth-area residents needed to make $64,742 a year to live comfortably.

What is the average household income in Fort Worth Texas? ›

In 2022, Fort Worth, TX had a population of 925k people with a median age of 33.2 and a median household income of $72,726. Between 2021 and 2022 the population of Fort Worth, TX grew from 908,469 to 924,663, a 1.78% increase and its median household income grew from $67,927 to $72,726, a 7.06% increase.

One of the most coveted and exclusive places in North Texas, Rivercrest has the highest average household income in the Fort Worth area. The neighborhood is close to downtown and has historical significance, with a community dating back to 1918.

Cost of Living in Florida vs Texas

Florida offers some of the best living costs in the country but Texas is still the winner with a cost of living index that is actually lower than the nation average. The median listing price of a house in Texas is also $274,500 compared to $300,00 in Florida.

Con: High property taxes

While Texas does not have a state income tax, it compensates with relatively high property taxes. In fact, the property taxes are the seventh-highest in the U.S. This can be a significant burden for homeowners, affecting affordability and the overall cost of living in the state.

The months from March to June are the best time to buy a house in Texas. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

The report also shows that prices haven't budged much and sales are down. The median home sales price of a D-FW home last month was $405,000, a 1.2% decrease from June 2023. It's the first time year-over-year median prices have dropped in 2024, according to preliminary data.

The average home price will drop slightly from 2023 to 2024

The median price fell 3% year-over-year to $325,000 in March, but it was still significantly higher than the $240,000 median price recorded in March 2019.

Compared to other major cities in Texas, Fort Worth offers a more affordable cost of living, with a median home sale price of $330,000. Housing prices are relatively lower, and the city provides a range of options from historic homes to modern apartments.

Is Fort Worth a Good Real Estate Investment? Fort Worth, Texas is considered a great community to invest in for several reasons: Strong economy: Fort Worth has a strong and diversified economy, with a growing number of businesses and job opportunities in industries such as healthcare, finance, and energy.