Interesting data from this survey of ApartmentList users. According to the brand’s latest report on renter migration, Dallas apartment dwellers cite affordability, jobs, and commute as the top three reasons for leaving the city. Likewise, the top three destinations for renters in Dallas are Denver, Chicago, and Washington, D.C.

In their concerns, as it turns out, Dallas renters are not alone.

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The Butler Brothers building

By Sydney Bennet
Special Contributor

The Dallas market is full of stunning apartments offering state-of-the-art facilities and a range of amenities. Top-notch apartment buildings can be found with rooftop pools, patios with grills, game rooms, and well-equipped fitness centers. In these apartment buildings, renters can often be found lounging at the pool, playing ping-pong in the game room, and lifting weights at the gym. The Butler Brothers Building, located just next door to Dallas City Hall, offers some additional unique amenities catering towards creative renters.

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There’s a serious shortage of affordable rentals in Dallas, but some data shows that prices are dropping. That’s good news considering that wages, when compared to housing costs, are creating a gap in affordability that is causing a whole swath of renters to become “cost burdened.”

“Dallas, specifically, ranks No. 47 when it comes to cost burdened renters, with 47 percent of the local renters spending at least 30 percent of their income on rent,” said Sam Radbil of Abodo. “Outside of Dallas, when looking at the data on a national level, the study revealed that almost half of the top 20 cities with the most cost burdened renters are located in California.”

Abodo’s numbers show that Dallas rents dropped .2 percent in October from the previous month, but are up 5.3 percent year-over-year. However, according to RentCafe, Plano is actually quite affordable, with only 25 percent of a renter’s annual income going toward rent. Irving is also quite affordable.

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According to Apartment List, affordable rentals are increasingly found outside the Dallas city limits.

In Dallas, though, the market has seen an influx of luxury rentals for those who eschew homeownership in favor of low-maintenance, non-committal leasing. This has meant that fewer affordable units have been built, pushing residents outside of the city, creating longer commutes, and overall increasing transportation costs for those who can least afford it. You can see the results in Apartment List‘s recent breakdown of median two-bedroom rental costs.

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Turkey Dinner

Grocery bills are topping out just two days before we sit down to elegant tablescapes and eight different kinds of potatoes, and ApartmentList wanted to know what everyone is obviously thinking: How many of these Thanksgiving feasts it would take for Americans to pay rent?

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In RentCafe’s ranking of apartment sizes for U.S. Metros, Plano ends up in the fourth spot for the largest one- and two-bedroom apartments and third in studios when measured by average square feet. The list, in which Dallas doesn’t even break the top 15 (it was tied for 18th with Irving), compared apartment sizes by location and over time throughout the top 50 largest metropolitan areas.

Also interesting, and a trend that many Dallasites are seeing, is the overall shrinking of apartments. According to RentCafe’s YardiMatrix, apartment sizes have shrunk by 8 percent overall in the last decade, with studios getting a very claustrophobic 18 percent smaller.

In Dallas, we ranked 10th in largest apartment size when measured by population, though, but Atlanta finished first, as it did in almost every category. If you want to rent a big space, you have to move to Georgia it seems.

For more ranking fun and a neat infographic, jump!

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Renting is often considered to be more affordable than homeownership, but the gap between affordable rentals and affordable homes for sale is widening. According to SmartAsset’s 2016 rental affordability survey, there’s a massive income gap for renters. This year’s survey shows that, in Dallas, renters need to make $62,700 to meet HUD guidelines for affordable rentals. That’s an increase of $5,829 from a year ago, and equates to about $1,463 a month on rent alone.

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rent prices

If it seems like rent is high in Dallas, you’re not imagining things.

According to a new report from Apartment List, Dallas has the highest rents in the state, with two-bedroom apartments having a median rent of $1,580 per month, and one-bedrooms at $1,220. Dallas rents have grown year-over-year by 5.4 percent, higher than both statewide and national averages.

Just north of Dallas, Plano is Texas’ fourth most expensive city. It also showed the highest year-over-year rent growth, with a 6.9 percent increase over April 2015. In this city, a two-bedroom has a median price tag of $1,480, and a one-bedroom rings in at $1,070 per month.

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It seems like there’s a new press release with new data in our inbox every day telling us that more and more people are moving to Dallas now than ever before. And just as often we are reading news stories about slow apartment leasing and price reductions in some areas of the market.

If you’ve been overwhelmed with the seemingly ubiquitous data-driven news showing both how fast we’re growing and how troublesome the rental market is looking, here’s a little breakdown of the most recent news regarding Dallas growth and Dallas real estate. The takeaway: Expect to see more of these guys.

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