North Texas Rent Rates on Rise - NBC 5 Dallas-Fort Worth

North Texas Rent Rates on Rise

Rent is up, on average, $39 over the last six months, according to a survey of 19 cities across the Metroplex

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    NEWSLETTERS

    There are multiple reasons why North Texans are forking over more for rent these days.

    (Published Monday, July 17, 2017)

    Rent is on the rise across Dallas-Fort Worth.

    A survey of 19 North Texas cities, courtesy of information gathered from Rent Jungle, shows that rent is up an average $39 per month compared to six months ago.

    Rent is approximately $200 more per month in Dallas than in it is, on average, in Fort Worth - $1,254 in Dallas compared to $1,050 in Fort Worth.

    The three cities with the highest average monthly rent, as of June, are:

    • Flower Mound $1,431
    • Rockwall $1,392
    • Frisco $1,323

    The three cities with the lowest average monthly rent, as of June, are:

    • Garland $839
    • Mesquite $840
    • Duncanville $849

    A big reason North Texans are forking over more for rent these days is demand. The Metroplex is again expected to lead the nation in job creation in 2017, according to HomeUnion, a leading real estate investment company that studies apartment trends in major markets across the country.

    Average rental rates in Dallas-Fort Worth
    Photo credit: NBC 5 News

    Another reason is the type of apartments that are being built to satisfy that demand. There were 29 Class A apartment towers under construction in North Texas at the start of the second quarter of 2017, according to HomeUnion. A Class A apartment tower is a higher end building that typically caters to young professionals and emphasizes a “live, work, play” environment.

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