housing

Illustration courtesy Photofox

Rents and home prices continue to rise (even with a slight cooling), and much like salaries across the country, the salaries of teachers in Dallas-Fort Worth have not kept pace with those rising housing costs, a new analysis by Apartment List revealed.

In DFW, almost 24 percent of primary-earner teachers were burdened by the cost of their housing — the teacher cost burden rate was 48.1 percent higher than the rate for households where the primary earner was a college-educated non-teacher. The median income of teachers in the area is 30.7 percent less than the median income of full-time non-teachers with similar education. (more…)

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 does everything big — including commutes.

According to a new Apartment List study, examining commuter data from 2005 and 2016, one in 45 commuters in the Dallas metro are “super commuters,” traveling 90 or more minutes to work each day, and the prevalence of super commuting is on the rise. The share of Dallas commuters who are making super commutes increased from 1.8 percent in 2005 to 2.2 percent in 2016, a 22.3 percent increase.

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When searching for a place to call home, most renters start with a price range in mind. Although the importance of staying within your budget is universal, the options available at different price points vary across the Dallas metro.

To illustrate this point, Apartment List crunched the numbers to find out how much space you can get for $1,500 in different parts of the Dallas metro. It’s no surprise that you have to sacrifice size for location to rent a luxury loft in downtown Dallas, where a 1,020-square-foot, one-bedroom runs $1,500. Meanwhile, you can spread out in a 1,410-square-foot, three-bedroom apartment in Fort Worth for the same price.

For a more thorough breakdown, we’ve selected specific examples of units in six Dallas-area cities near the $1,500 price point and close to each city’s average square footage.

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Renter Confidence Survey

Dallas renters gave their city a B grade in Apartment List’s annual renter survey, an improvement from Dallas’ C+ grade in last years’ survey. Dallas ranked 23 out of the top 50 cities for renter satisfaction, earning higher marks than Phoenix, Los Angeles, and Chicago. Renters with children are particularly satisfied with Dallas, giving the city an A-, while Millennial renters gave the city lower marks (B-). In addition to Dallas, Apartment List published results for Plano (A+), Garland (A), Carrollton (A), Euless (A-), Denton (B+), Lewisville (B+), Arlington (B+), Irving (B) and Fort Worth (B).

The renter satisfaction grades are based on data from over 45,000 responses collected in the Apartment List renter survey between Oct. 1, 2016 and Dec 6, 2017. Overall, the top-rated cities for renters are Scottsdale, Arizona, Plano, Huntington Beach, California, and Cambridge, Massachusetts. In general, small and mid-sized cities received better ratings: 38 percent of them received an A- or higher, compared to only 24 percent of large cities.

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Dallas rents grew 2.2 percent in 2017, bringing the median two-bedroom rent to $1,100. It’s not just in Dallas proper where rents are on the rise – rents increased in 2017 in all the major Dallas metro cities including Fort Worth (4.3 percent), Arlington (6.6 percent), Plano (2.9 percent), Garland (2.7 percent), and Irving (3.8 percent). There is some relief for Dallas renters — rents in Dallas proper have declined 0.3 percent over the past month, and are down 1.2 percent since their 2017 peak in August.

The Dallas rent declines are part a seasonal trend, with rents falling in 62 of the top 100 U.S. cities during the month of December. Dallas’ rent decreases have been more pronounced than the nationwide trend, due in large part to increases in multifamily stock. The Dallas metro added more new rental stock than any U.S. metro, with 22,851 deliveries in 2017, up from 15,459 in 2016. The new rental stock decreased occupancy rates by 1.8 percent and softened rent growth, helping keep Dallas rent growth below the national and state averages of 2.5 percent and 2.8 percent, respectively.

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The Interurban building is a classic industrial loft building in downtown Dallas.

Some of the hottest apartments currently on the market are lofts, with plenty of luxury lofts for rent in Dallas. Loft apartments are often converted from former industrial buildings, but now many brand new “loft-style” apartments are being built in the Dallas, usually located near downtown. Loft-style buildings are open-concept spaces with high ceilings and large windows, and often include more industrial decor such as exposed brickwork. This week we’re highlighting our favorite residential loft rentals in Dallas.

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What would it take to get Amazon to locate it’s HQ2 here in Dallas? Jon Anderson says you don’t want to know, and we shouldn’t be so sure we want the e-retailer here anyway.

And according to new stats from ApartmentList, if Seattle’s fallout from HQ1 is any indication, Dallas and Austin renters should expect a bump in cost of living should Amazon HQ2 land in these major Texas metro areas.

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