Arlington Ranks Tops in Apartment Analysis, But Not in a Good Way

Being No. 1 isn’t always a good thing.

Arlington ranked first among the nation’s 50 largest cities with renters having the lowest average credit scores, according to a RENTCafé analysis. Arlington averaged a 580 score across four demographics. In comparison, San Francisco was tops with a 719.

It wasn’t just an Arlington issue. Dallas averaged 622 and Fort Worth 627. By comparison, Austin had a 670 average, scoring tops in the state in all of the generation categories — Baby Boomers, Gen X, Millennials, and Gen Z.

According to the RENTCafé analysis, Gen Z is defined as the generation born between 1997 and 2012, Millennials are defined as the generation born between 1981 and 1996, Gen X as those born between 1965 and 1980, and Baby Boomers as those born between 1946 and 1964.

Gen Z renters post an average score of 575 in Dallas, 585 in Fort Worth, and 535 in Arlington.

If some hipster in Austin dismisses you with an “OK Boomer,” it’s a good thing. Austin had the second-best average credit score (722) for Baby Boomers behind only New York (732).

As D-FW credit scores lagged, the nationwide trend ran counter. The average credit score needed to rent an apartment has increased by one point each of the past three years.

The analysis is based on 5 million anonymized rental application data from RentGrow in the 50 largest U.S. cities.

Dallas and Fort Worth have experienced declines over the past three years. Dallas renters averaged 630 in 2019 and 639 in 2018. Fort Worth renters averaged 641 in 2019 and 647 in 2018.

Dallas renters in high-end apartments have an average score of 659. The average in Fort Worth is 680.

According to Zumper.com research for February, the average rent for a one-bedroom apartment in Arlington is $950, a 5.6-percent increase over the previous month and a 9.2-percent increase compared to the previous year. In the past month, the average rent for a studio apartment in Arlington decreased by 3 percent to $775. Arlington ranks as the 67th-most expensive renter’s market in the U.S.

Tips

• So, bottom line, what credit score do you need to rent an apartment? According to ApartmentList.com, generally, a “good” credit rating (an aggregate score of 670 to 739) can get applications considered.
• NerdWallet has this insider’s look at the credit-check process along with strategies for maneuvering through the process.