The Big D is a perfect match for homeowners looking to downsize in their golden years, according to research from Mirador Living.
The assisted-living search platform analyzed Zillow data and found that Dallas is the No. 5 city for seniors who stand to save big money by downsizing from a three-bedroom living space to a one-bedroom space.
Given the average price of a three-bedroom living space — $637,813 — downsizers in Dallas stand to decrease their housing costs by 61.26% when selling and moving into one-bedroom spaces, which carry an average price of $247,101.
On the flip side, in Fort Worth, where the average three-bedroom home costs $301,011, one-bedroom homes are only 28.36% less expensive.
“Downsizing can be a complex decision, but understanding where it offers the greatest financial benefits can help retirees make informed choices for their next chapter,” Dharam Khalsa, CEO and co-founder of Mirador Living, said in a press release.