Rents in the Dallas-Fort Worth area soared this September when compared it to just one year ago. According to newly released data, rents in the area increased more than 15-percent when comparing September 2021 to September 2020.
In Dallas, rents were up 2.7-percent month-over-month. That’s higher than the national average. Year-over-year, though, rent growth topped 15-percent. The figure was much lower in September 2020 when the COVID-19 pandemic was severely impacting the rental market.
According to Apartment List, the median rent in Dallas this September for a one-bedroom apartment was $1,140. For a two-bedroom unit, the median rent price in Dallas was $1,367.
Renters in Plano paid a premium, with median rent at $1,880 for a two-bedroom. In McKinney, the median rent price was about $190 cheaper, per month.
Those working with a budget could get a two-bedroom in Fort Worth for a median rent price of $1,260 in September. Rental price growth in Dallas-Fort-Worth outpaced the rest of Texas and the national average, year-over-year in September.
Despite this, Dallas is still more affordable than other comparable cities across the nation. Big cities like Phoenix, New York and Nashville all saw big increases. Typically, rent prices tend to take a dip this time of year.
Posted by Kenneth G. Cox on
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