Eventhough Dallas rents increased by 0.6% last month, the increase is lower than its been in previous months. The city’s rents are up 13.8% when compared to the same time last year, an average monthly increase of over 1.5%. An Apartment List survey put the median rents in Dallas at $1,246 for a one-bedroom and $1,489 for a two-bedroom. The city’s rents have been increasing for 21 months.
For Dallas area towns, Arlington has the least expensive rents at $1,326 for a two-bedroom unit. The same sized unit in Plano will go for $2,012.
Statewide, rents throughout Texas have gone up 10.3% over the previous year. They’ve gone up 10.8% in Austin, 10.7% in San Antonio and 6.2% in Houston.
Nationwide rents went up 16.6% in New York City, 12.8% in Nashville and 8% in Los Angeles. The average rent in San Francisco for a two-bedroom unit is $2,680, nearly double that in Dallas.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!