The Top 7 Things Physicians Should Know Before Moving to DFW
Congratulations on receiving your residency match!
You’ve worked hard to reach this milestone. This is an exciting time and a moment to celebrate. Yet, while one milestone of your journey is ending, another is just beginning, and we’re certain you have many questions.
To help guide you through your transition, we’d like to introduce you to the Dallas-Fort Worth area and, more specifically, to what the Dallas-Fort Worth area holds for you and your future. The Dallas-Fort Worth area is home to six Nobel laureates and two breakthrough prize laureates. Additionally, Texas has a fast-growing healthcare community brimming with opportunity. These are just some of the exciting opportunities that are awaiting your arrival.
Booming Job Market
Healthcare in the Dallas-Fort Worth area isn’t just growing, it’s booming. The regional growth for the sector covering education and health-related jobs has increased by 3.5%, which is 1.4%higher than the national growth rate for this industry.
The Dallas-Fort Worth healthcare industry represents 15% of the entire local economy, according to D Magazine, a publication that covers the Dallas-Fort Worth area. To put that into perspective, 15% translates to a whopping $52 billion market that you’ll be learning and practicing in.
Reasonable Cost of Living
When moving to a new city, it’s essential to rationalize how much it’ll cost you to live there vs. how much salary you might expect. The cost of living for Dallas is only about 2% higher than the national average.
Physician salaries vary greatly according to which field you practice under, with some specialties garnering higher wages than others. Salary.com reports the average physician's salary for 2022 across all specialties at about $286,278. This increase in pay offsets any additional living expenses while also helping you pad your savings account for your future.
With just an offer letter of employment up to 90 days from your start date, Extraco Mortgage offers specialty mortgage services for physicians with unique features including:
- No PMI, which most conventional mortgages require
- Up to 100% financing
- Flexible financing, even for credit scores as low as 660
Want more information on physician specialty mortgages?Learn More
A Welcoming Atmosphere
One of the best things about Texas is the warm and inviting atmosphere. Texans believe in and embrace hospitality. In fact, friendship is the state motto.
Aside from that, the climate offers comfortable, warmer temperatures as well. While much of the rest of the country experiences freezing winter temperatures, the average winter temperature in the Dallas-Fort Worth area falls between 50 and 60 degrees. Still, it can dip into the 30s on occasion. Summers tend to be warm and often reach the low to mid-90s, so don’t forget your sunscreen.
There are several family-friendly communities in the Dallas-Fort Worth area, including Southlake, University Park, Coppell and Murphy, to name a few. Don’t just limit yourself to your own community, though. Venture around the region. There is plenty to keep you busy.
The Dallas Zoo is one of many popular attractions, as are the Dallas Arboretum and Botanical Garden, the Dallas World Aquarium and the Medieval Times Dinner and Tournament. In truth, these are a few of the many adventures to keep you and the whole family busy throughout the entire Dallas-Fort Worth area.
Abundant Night Life
When the sun goes down in this part of town, there is an abundant nightlife scene, from western-style saloons like Billy Bob’s Texas to tapas bars like Atico. If you like comedy, then be sure to check out Hyena’s Comedy Nightclub. Acre Distilling and Coffee Co. has a great tasting room that’ll make you feel right at home. Finally, Fort Worth Flying Saucer is also an excellent place for food and beer.
A Must-See State Fair
Possibly one of the biggest annual attractions and a must-see is the State Fair of Texas, which gets into full swing in Dallas from the end of September to late October. At the fair, you can plan on experiencing art exhibits and contests, cooking challenges, livestock shows, fundraising events like clay shooting, and golf. There are also plenty of commercial exhibitors and food vendors to tantalize every taste bud.
Football & the Dallas Cowboys
Do you like football? If you answered yes, then you’ll feel right at home here. In Texas, we don’t just view football as a common sport– it's a lifestyle. If you are needing a team to root for, the Dallas Cowboys are a natural choice.
We also have three other sports teams you can cheer for. Our baseball team, the Texas Rangers, plays home games at Globe Life Field in Arlington. We have an ice hockey team, the Dallas Stars, and a basketball team, the Dallas Mavericks. Both teams play their home games at the American Airlines Center in Downtown Dallas.
There are so many advantages to moving to and living in the Dallas-Fort Worth area. We’re excited to welcome you to your new home!
Welcome to Dallas-Fort Worth.
Congratulations again on your residency match, and we wish you success on the next milestone of your career!