rents

From staff reports

Dallas rents are rising, but are still doing so at a rate below the national average, the December 2018 Dallas Rent Report from ApartmentList.com revealed today.

Year-over-year, Dallas rents have increased by 1.1 percent, with median rents at about $890 for a one-bedroom apartment, and $1,110 for a two-bedroom. That year-over-year growth is less than the state average of 1.4 percent and the national average of 1.3 percent.

In November, Dallas rents remained flat. (more…)

Lake Highlands

Apartments like The Trellis (pictured) and others make one zip code in Lake Highlands one of the cheapest areas to live in Dallas, according to new research by Realtor.com.

We know rents are high in Dallas — we’ve written more than a couple of stories about how much it costs to live in the Big D. But where can you consistently find the cheapest rents? Turns out, one zip code in Lake Highlands, in particular, is exactly where you should start hunting.

Realtor.com decided to take a look at several large metros with higher rents and find the most affordable neighborhoods in each — with a few provisos.

The researchers said they began by analyzing median one-bedroom rents as of May by zip code, and then searched neighborhoods within a 45-minute commute to downtown during morning rush hour based on data from Google Maps.

Researchers said they also “made sure crime wasn’t over a certain threshold based on crime data provided by Sperling’s Best Places, a site that collects data on communities across the U.S.” (more…)

dallas-fortworth-cities-map

We talk about the impact of rising home prices all the time, but that’s only half the affordable housing story. Across the country, rents in suburban areas also show dramatic increases over the last year, with no signs of stopping.

A recent study from RentCafe shows that while urban Dallas continued to post fairly consistent rent increases in 2016 (5.9 percent), the farther you travel away from the city, the greater the hikes renters experienced. In Dallas proper, rental housing remains relatively affordable when compared to the rest of the Metroplex (and the country, as a whole). We have all that apartment construction to thank for that. More than 6,000 new apartment units became available in 2016, alone.

But in Fort Worth, where apartment inventory has stagnated, rents grew 6.3 percent over 12 months. And that’s nothing compared to areas like Weatherford and Midlothian where rent skyrocketed over 10 percent in 2016.

(more…)

Y-o-Y-increase-in-renter-occupied-vs-owner-occupied-households-2014vs2015There is a new buzz word in real estate: Over Renter.  This term is used to describe individuals or families that make $150,000 or more annually that choose to rent a home or apartment in lieu of purchasing a traditional home.  These high-income renters certainly can purchase a home but elect to pay top dollar for renting smaller, more conveniently located living spaces … and they are happy about it.

According to a recent study by RentCafe, in the Fort Worth market alone, the number of  high-income renters has increased 77 percent since 2014.

As Fort Worth continues to increase in population, the number of renters and buyers should continue to remain at a high level.  The question remains, “is this a good thing?”

(more…)