Dallas Renters Get Less Space for $1,500 Than They Did Last Year

For the third straight year, Dallas renters are getting slightly less square footage for the money, a recent study found. While rent buys you more in Big D than in many of the nation’s biggest housing markets, renters can stretch those dollars further elsewhere in Texas.

RentCafe’s latest analysis comparing how much apartment space renters can afford with a monthly budget of $1,500 in the 200 largest cities in the United States found that the square footage in Dallas ticked down again, clocking in at an average of 806 square feet. Last year, the number was 814 square feet, and the year before that, 815.

Less for More: Dallas Apartment Units Are Getting Smaller and More Expensive

Dallas ranked No. 103 nationally. Nevertheless, 806 square feet is still nearly four times the 210 square feet that $1,500 will get you in Manhattan, which ranked last for most bang for your buck. Dallas also outperformed the national average of 703 square feet, and even beat out Austin, where the same budget covers 784 square feet.

Other North Texas markets offer even more room for the money. In nearby Fort Worth, renters can expect about 913 square feet. Meanwhile, San Antonio stands out among the Lone Star State’s largest cities, where $1,500 stretches to roughly 1,023 square feet — enough for what RentCafe classifies as two- to three-bedroom apartment territory.

The D-FW’s robust multifamily pipeline has helped keep rent growth in check compared with many U.S. markets. Yardi Matrix reported that average advertised rents declined 1.9% year-over-year earlier this year as the Metroplex absorbed another large wave of deliveries. Analysts say the new supply has increased competition among landlords, helping moderate rents even as demand for apartments remains strong.

Texas Renters Gain Leverage as Multifamily Vacancies Rise

“In nearly half of the cities we looked at, a $1,500 monthly budget can get you a one- or two-bedroom apartment, which is what most renters are searching for,” said RentCafe senior real estate writer and research analyst Alexandra Both. “These types of apartments make up most of what’s available today — and, lately, one-bedrooms have become the most common option being built.”

In the Rio Grande Valley of South Texas, McAllen has the distinction of having the most square footage for $1,500, not just in Texas but in the nation. At that price, you can get an apartment spanning 1,378 square feet.

RentCafe based its rankings on average apartment rents and unit sizes in multifamily properties with at least 50 units, using market data from sister company Yardi Matrix.