The rental/apartment market in the DFW region has sort of become like the Wild Wild West in terms of housing in North Texas. New developments are being proposed or breaking ground at lightning fast paces, rent prices are seemingly increasing by the month, and finding an available apartment or home for rent has also become as challenging as ever in recent months.
With the DFW job market red hot and more people moving to the Dallas area every single day, it’s important to be as prepared as possible when seeking out a new place to live. And if you’re someone who plans on shopping for a new apartment or rental in the coming weeks or months, the Dallas Business Journal recently did an excellent job outlining where rents in the DFW metroplex are the most expensive. Here’s just a brief look at what they found:
Of all the cities in the region, Dallas still remains the priciest for renters. Just from this time last year to today, Dallas has seen an insane 6.6% spike in rents.
Plano has now taken over as the second priciest city for renters in DFW, as the median price for a one-bedroom has officially reached $1,140. And if you think a 6.6% increase is high, Plano’s year-over-year price has soared by 8.6%
Just slightly cheaper than Plano, McKinney is still the third most expensive location for renting an apartment in the DFW area. Recent stats have a one-bedroom here priced at $1,000. The median price for a two-bedroom is reported to be $1,360; which given how crazy the market has been, isn’t too bad for a town that’s among DFW’s most highly sought after places to live.
For a look at what other cities in DFW rank among the most expensive, check out DBJ's full list here.