If you can get outside the city by about 25 miles you can get A LOT of house. If you're looking closer to Dallas itself, Dallas isn't really all that cheap unless you compare it to NY or CA. And the suburbs are starting to see price increases, so Dallas may not be the steal it is (in terms of cost of living) 5 years from now.
Property taxes are really high, but there's no income tax, so it kind of all comes out in the wash.
We live in Frisco. Awesome place, but there are other great suburbs out here, too. Where you work will probably drive what part of the city you would want to live in.