Families in Dallas earn a median $74,323 a year, and the typical owned home is worth $340,400. A simple rule puts the need for a typical family here at about $950,000. Term life is usually the lowest cost way to get there.
Dallas by the numbers
- Median household income
- $74,323Lower than the Texas median of $79,721
- Typical home value
- $340,400Higher than the Texas median of $313,200
- Homes owned
- 42%55% of owned homes have a mortgage
- Households with kids
- 26%537,317 households in all
- Age 65 and older
- 12%Median age 33.2
- Veterans
- 33,8143.3% of adults
Living in Dallas
Dallas is the 3rd largest city in Texas, with 1,326,093 residents and a median age of 33.2. That is younger than the state as a whole, so more families here are in the years when term life matters most.
The median household here earns $74,323, below the US median of $81,604. The typical home costs about 4.6 times that income.
Compared with nearby Mesquite (11 miles away), homes in Dallas are worth more ($340,400 vs $267,000), and fewer households have kids at home.
The biggest hands on job group here is driving and moving goods, at 9.1% of workers. Drivers who switch carriers often lose their work coverage, so a policy they own matters.
Who works in Dallas
The biggest groups of hands on and front line jobs here, as a share of all workers. Some of these jobs can change your price, and some companies treat them better than others.
What fits families in Dallas
55% of owned homes in Dallas still have a mortgage. If your family would struggle to make that payment without you, size a policy to the loan. More on mortgage protection
26% of households here have kids under 18. Term life covers the years they depend on you for the lowest price. More on term life
12% of people in Dallas are 65 or older, lower than the Texas rate. A small policy keeps funeral costs off the family. More on final expense
35% of people here speak Spanish at home. Pick Español on our form and we will ask for an agent who speaks Spanish. Spanish guide
About 33,814 veterans live in Dallas. VGLI is not your only choice. More on veterans
Final expense and burial insurance in Dallas
About 157,800 people in Dallas are 65 or older. A small final expense policy, also called burial insurance, pays for the funeral so the family does not have to.
| Age | Women, $10,000 | Men, $10,000 |
|---|---|---|
| 60 | $33 | $43 |
| 70 | $53 | $70 |
| 80 | $98 | $134 |
National sample rates, Choice Mutual, Rates valid as of March 9, 2026. Not a quote. Funeral costs and help in Texas
Texas rules that protect you
- Free look: set by policy
- Grace period: one month if you miss a payment
- Guaranty protection: up to $300,000 in death benefits
- Help line: Texas Department of Insurance, 800-252-3439
Common questions in Dallas
How much life insurance do I need in Dallas?
A quick rule of thumb: 10 years of income plus what you owe on your home. With Dallas's median household income of $74,323 and a typical home value of $340,400, that lands near $950,000 for a typical family. Your number depends on your debts, kids and savings. Our calculator does the math.
Can I get life insurance in Dallas without a medical exam?
Often, yes. Many companies approve healthy people with health questions and records instead of an exam. Older buyers can also look at simplified issue or guaranteed issue final expense plans.
Do I need an agent licensed in Texas?
Yes. An agent must hold a Texas license to sell you a policy. You can check a license with the Texas Department of Insurance at 800-252-3439.
Source: Texas Department of Insurance
What does a funeral cost near Dallas?
Local prices vary by funeral home. Nationally, the median funeral with viewing and burial was $8,300 in 2023, and $6,280 with cremation (NFDA). Under the FTC Funeral Rule, any funeral home in Dallas must give you an itemized price list.
Source: FTC Funeral Rule · NFDA price study
What happens if my insurance company fails in Texas?
The Texas Life & Health Insurance Guaranty Association protects Texas policyholders up to $300,000 in death benefits, per insured person.
Source: Texas Life & Health Insurance Guaranty Association · NOLHGA: how you are protected
Near Dallas
Mesquite (11 mi), Garland (11 mi), Irving (13 mi), Richardson (13 mi), Carrollton (16 mi), Grand Prairie (17 mi)
Sources
Local numbers are Census American Community Survey 2024 one year estimates for Dallas, TX. The coverage figure is a rule of thumb, not advice.
