November’s Dallas Apartment Rents Down Considerably, Align with National Trend

Nationally, rents have fallen for the 3rd straight month. An Apartment List December 2022 Rent Report showed a 1.0% price decline in November. It’s the single largest monthly drop in the history of the index, which stretches back to 2017. The cool down is widespread, as rents fell this month in 93 of the nation’s 100 largest cities. The Rent Report also showed:

• Rents in Dallas decreased 1.2% month-over-month in November, compared to a 1% decrease nationally.
• Year-over-year rent growth in Dallas currently stands at 8.3%, compared to 16.1% at this time last year. Year-over-year growth in Dallas ranks #14 fastest among the nation’s 100 largest cities. Rents in Dallas are up by 22.5% since the start of the pandemic in March 2020.
• Median rents in Dallas currently stand at $1216 for a 1-bedroom apartment and $1453 for a two-bedroom. That ranks #60 in the nation, among the country’s 100 largest cities.