Friday, November 12, 2021 / by Kenneth Brands
Rent Prices Surge Across The Dallas-Fort Worth Metroplex
- McKinney, Texas: McKinney, Texas has seen the largest apartment rent increase out of any city in the Dallas-Fort Worth metroplex. Apartment rents in McKinney, Texas have increased by 25.2% compared to this same time last year. The median cost of renting a one-bedroom unit in McKinney is $1461, while the median monthly rent amount in McKinney for a two-bedroom unit came in at $1698.
- Plano, Texas: Apartment rents in Plano, Texas have increased by 1.2% over just the last month, and a mind-numbing 22.2% compared to this same time last year. The median cost to rent a one bedroom apartment in Plano, Texas is $1470, while the median cost of renting a two bedroom apartment in Plano is $1870.
- Frisco, Texas: Not far behind McKinney and Plano, apartment rent increases in Frisco, Texas have increased 20.3% compared to this same time last year. The median cost to rent a one bedroom apartment in Frisco, Texas is $1480, while the median cost of renting a two bedroom apartment in Frisco, Texas is $1960
- The Colony, Texas: Rent prices in The Colony, Texas have increased 19.1% year-over-year. The median rent amount for a one bedroom apartment unit in The Colony, Texas is $1630, while the median price of renting a two bedroom apartment in The Colony is $2030.
- Flower Mound, Texas: Flower Mound has seen rents increase 23.3%, year-over-year. The median rent amount for a one bedroom apartment in Flower Mound, Texas is $1600. Flower Mound tops the charts with the median cost of renting a two bedroom apartment coming in at an astounding $2100 per month.
- Fort Worth, Texas: Apartment rents in Fort Worth have increased 12.5% year-over-year. The median price of renting a one bedroom apartment in Fort Worth was $1080, while the median cost of renting a two bedroom apartment in Fort Worth was $1280.
- Weatherford, Texas: Despite rents increasing 10.7% year-over-year, Weatherford, Texas has the lowest apartment rent prices of any city in the Dallas-Fort Worth Metroplex. The median cost of renting a one bedroom apartment in Weatherford is $940, while the median cost of renting a two bedroom apartment in Weatherford is $1380.
How do apartment rent prices in Dallas, Texas compare to other cities nationwide?
Apartment rent prices across Texas have increased 14.1%, year-over-year. Coming in just slightly above the state average, apartment rents in Dallas, Texas have increased by 14.3% year-over-year. Rent increases in Dallas were relatively modest when compared to cities like Austin, Texas where apartment rents have increase by 24.2% throughout the past twelve months!
Nationwide, apartment rent prices have increased by 15.8% over the past year compared to the 14.3% increase in Dallas. While Dallas' rents rose sharply over the past year, many cities nationwide experience even bigger increases such as Phoenix (+27.4%), New York (+18.9%), and Nashville (+18.4%).
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