What to Know Before Moving to Dallas, Texas

If you are looking to relocate your family or find the ideal spot to retire, consider moving to Dallas, Texas, where you will experience the perfect combination of big-city amenities and quiet suburban landscapes, a strong economy and affordable living in a place without state income tax.

U.S. News & World Report recently released its “150 Best Places to Live in the U.S.” and “150 Best Places to Retire in the U.S.” for 2020-2021, ranking the Dallas-Fort Worth area 24th and 17th on the lists, respectively.

Over the last decade, the Dallas-Fort Worth-Arlington metropolitan area saw almost a 19% population increase, while the state of Texas experienced about a 16% jump in population (compared to a 6% increase nationally).

Why are so many people flocking to the area? Read on to explore some of the reasons why Dallas is such an amazing community to call home.

Reasons to Move to Dallas, Texas

  • Strong economy: Voted second on the list of the “Best Places for Business and Careers 2019” by Forbes, Dallas has historically low unemployment rates, a projected annual job growth rate of 2.5% (as of October 2019) and is currently home to 10 of the Fortune 500 companies in the city limits, including AT&T (ranked ninth on the list). The communities around Dallas serve as the headquarters for more than 20 other Fortune 500 companies, including American Airlines and ExxonMobil.

    Much like the diversity of the people who live there, the Dallas metro area boasts a diverse economy. Major sectors include financial services, defense, transportation, oil and gas, telecommunications and information technology. Plus, the region is home to top-notch medical facilities and dozens of colleges and universities.

  • Plenty to see and do: Dallas and the surrounding communities offer ample activities to keep you busy throughout the year. Enjoy the area’s eclectic dining options; explore the Dallas Arboretum and Botanical Gardens; see animals at the Dallas World Aquarium, the Dallas Zoo (Texas’ first and largest zoo) or the Fort Worth Zoo; pose among the Dallas Cattle Drive Sculptures; or get a dose of vitamin D and a little exercise at one of the area’s local parks or trails, including the 5.2-acre Klyde Warren Park in the heart of the city.

    If you want to take in a little culture, visit one of the many historical museums. One top attraction is The Sixth Floor Museum at Dealey Plaza, which chronicles the assassination of President John F. Kennedy in 1963 from that location.

    Dallas has also hosted the State Fair of Texas since 1886 and the Red River Showdown football game between the University of Texas at Austin and the University of Oklahoma as part of the state fair since 1929.

    Looking for something to do with more of a traditional Lone Star State flair? Head to the Fort Worth Stockyards National Historic District to see the original brick walkways and wooden corrals that showcase the history of the livestock industry in Texas. While there, stay to watch a cattle drive or the rodeo.

  • Sports, sports and more sports: No matter your sport of choice, the Dallas area likely has you covered. The metro area is home to six major league sports teams, including one women’s professional team, the Dallas Wings. “America’s Team” — the Dallas Cowboys — play at AT&T Stadium in Arlington, Texas, about 20 miles west of downtown Dallas.
  • Ample transportation options: The area features two major airports, Dallas Fort Worth International Airport and Dallas Love Field, providing you easy access to many destinations around the world. If you want to set off on a road trip or just want to travel within the metro area, you can hop on one of several interstate systems that converge in and around the city.

    The Dallas metro area also offers alternate commute options through the Dallas Area Rapid Transit system, which operates buses, light rail, commuter rail and high-occupancy vehicle lanes.

Dallas Texas suburban park with downtown skyline in background.

Tips for Moving to Dallas, Texas

If you decide that living in Dallas is a good fit, make sure you do your research before settling on a community. The region is rich with unique neighborhoods that offer different amenities, like top schools, quiet streets, easy access to public transportation or city living where you are close to entertainment options and nightlife.

With the rapid growth in population over the last decade, there has also been a boom in the real estate market. Once you settle on an area you’d like to live, it’s a great idea to get preapproved for a home loan if you are looking to buy so you do not miss out on a great opportunity. Click here to find out more about our home loans or speak to your neighborhood loan officer today.

As you do your calculations to see what you can afford, keep in mind that property taxes may be on the high side since there is no state income tax.

Local Banking With WaFd Bank in Dallas, Texas

Deciding whether to relocate to a new community is both a personal and financial choice. If you are moving to the Dallas area, WaFd Bank is here to assist you every step of the way.

With multiple locations across Texas, WaFd Bank offers checking and savings accounts, business bank accounts, and home and custom construction loans, among other services. Our Easy Switch Kit makes changing banks a simple process.

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