Good News for Landlords: Rents Are Heading Up 5% in Dallas

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Jeremy Woodhouse/Getty Images
Jeremy Woodhouse/Getty Images

Those of us who own rental properties can get ready to fatten our checkbooks: rents are going up in Dallas, by 5%. According to an MSN Real Estate Report, at the end of 2012 the average rent paid in Dallas was $802. I honestly do not know of anyone with rent this low, do you? Rents in Dallas increased 3.9% from 2011, the vacancy rate was only a bit over 5%, and rents are forecast to increase 5% by the end of this year. What might make those rents go up? Scarcity of product. It won’t be scarce for long: an apartment boom has about 20,000 units currently going vertical in Big D, vacancies are down, and demand is up. Dallas is one of ten cities where rents are projected to be on the increase. 

Me, I’d rather just buy: the median price for a single-family home in the metropolitan area, which includes Fort Worth and Arlington, was $157,200 at the end of 2012, according to NAR and as reported by MSN Real Estate. When you have landlords like me who will raise rent at a headline glance, I’d rather have a 30 year fixed mortgage on my secure nest egg of a house. Agree?

 

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Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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