Apartment

(Photo courtesy Flickr)

Apartment rents in Dallas have increased slightly, but the city is still a relative bargain compared to other spots in North Texas, a recent analysis revealed.

Rents in Dallas have increased 0.5 percent from April to May, and are up 1.6 percent year-over-year, Apartment List said in its May rent report. The median two-bedroom rent is $1,120, a relative bargain compared to the many spots in Dallas-Fort Worth.

For instance, Grand Prairie has had a year-over-year increase of 3.1 percent, with a two-bedroom having a median rent of $1,260, and one-bedrooms going for $1,010. Plano’s median rent for a two-bedroom apartment was $1,440, up 0.3 percent over the past month and 2 percent year-over-year.

Statewide, rents increased 1.5 percent year-over-year, growing 3.5 percent in Austin, 2.4 percent in San Antonio, and 0.1 percent in Houston.

Apartment locating service Abodo gave nationwide context using data pulled from searches of apartments listed on its site, finding that nationally, one bedroom rents have increased 3.77 percent year-over-year, moving from a January median of $1,035 to $1,074 in May. From April to May, rents on one-bedroom units rose 1.06 percent.

However, the service found that rents on the once-hot two bedroom market had actually slowed a bit, with the median national rents decreasing from $1,239 in April to $1,325 in May, with a yearly increase of 4.08 percent.

To see the full Abodo report, click here. To see Apartment List’s, click here.

Arlington

(Photo by Park Van Ness)

A study of apartment rent growth over a five year period yielded what may be startling results to some — Arlington was in the top five cities in the nation when it came to rental increases in a five year period.

The report, which was released by ApartmentList.com, found that rents in Arlington are up 28.4 percent over the past five years, the fourth fastest growth rate over that period among the nation’s large cities.

The national index grew by just 13 percent in the same time span.

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Dallas proper posted moderate rent increases, but it was the area suburbs and exburbs that saw the biggest apartment rents in 2018, RentCafe revealed in a recent report.

Flower Mound posted the highest rent at $1,526 (despite only having a minimal increase of 0.1 percent), higher than Farmers Branch and Frisco with average rents of $1,382 and $1,343, respectively. In Coppell, rents have stagnated, decreasing by 1 percent year over year. (more…)