Dallas Rent Growth Remains Steady, Below National Average

rents

From staff reports

Dallas rents are rising, but are still doing so at a rate below the national average, the December 2018 Dallas Rent Report from ApartmentList.com revealed today.

Year-over-year, Dallas rents have increased by 1.1 percent, with median rents at about $890 for a one-bedroom apartment, and $1,110 for a two-bedroom. That year-over-year growth is less than the state average of 1.4 percent and the national average of 1.3 percent.

In November, Dallas rents remained flat.

 

“Of the largest 10 cities that we have data for in the Dallas metro, all of them have seen prices rise,” ApartmentList’s report said of the year-over-year data.

Mesquite has seen the fastest rent growth in the area, with a year-over-year increase of 3.9 percent. A median two-bedroom rental is $1,340, and a one-bedroom is $1,080. Plano has the most expensive rents in the area, with a two bedroom apartment costing $1,440 per month.

 

On the other end of the spectrum, neighboring city Garland has seen the biggest rent drop, with a decrease of 0.3 percent. Median two-bedrooms are $1,220, and one bedroom units are $990.

Dallas proper, the study found, was among the least expensive rents in the area, with a two-bedroom median of $1,110, which is below the national average of $1,180. Its rent increase is also lower than the rent growth in Austin (3.1 percent) and San Antonio (1.9 percent).  

“Renters will find more reasonable prices in Dallas than most other large cities,” the report said. “For example, San Francisco has a median 2BR rent of $3,100, which is more than two-and-a-half times the price in Dallas.”