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%).
Looking for a way to save money on your next apartment lease? The Apartment Saver is a completely free apartment locating company with exclusive apartment specials throughout the Dallas-Fort Worth Metroplex! To learn more about apartment specials in your area, visit www.TheApartmentSaver.com. Tired of renting altogether? Biggs Realty has innovative real estate tools and access to exclusive first time home buyer programs, perfect for any renter interested in purchasing their first home. To learn more about the tools and programs offered by Biggs Realty, visit www.BiggsRealty.com.
