By Sania Tran
According to a new report published by Apartment List, Dallas comes in 11th in the ranking of metropolitan areas that are attracting the most renters from elsewhere. The ranking was determined based on the share of inbound searches coming from outside the metro — 39.4 percent of those looking for a place to live in Dallas aren’t Dallas residents.
Most people trying to move to Dallas are coming from New York (4.8 percent), San Antonio (4.0 percent), Chicago (3.6 percent), Los Angeles (3.3 percent), Washington, DC (3.1 percent), Houston (2.3 percent). Interestingly, Dallas is the #1 destination for Houston renters looking to leave their metro. Dallas has experienced solid economic growth in recent years while maintaining its affordability.
Therefore, it becomes a more affordable alternative to the expensive metros around the nation that have been experiencing significant rent growth, such as New York. When it comes to Chicago, increasing rents there are accompanied with sluggish economic growth, making Dallas an attractive alternative.
According to another study by Apartment List, 53.4 percent of renters relocating to Dallas are location-first movers, who chose a city to live in before applying for jobs in that city. 47.4 percent of Dallas renters are planning on settling down in the area long-term.
When it comes to outbound searches, 30.1 percent of apartment hunters currently living in Dallas are looking to move elsewhere. The most popular destination for people leaving Dallas is San Antonio, which accounts for 7.0 percent of outbound searches. Other top destinations are Los Angeles (5.5 percent) and Phoenix (4.6 percent).
To see the full report, click here.