Friday, November 12, 2021 / by Kenneth Brands
If you are currently renting an apartment in the Dallas-Fort Worth Metroplex, odds are you've already received notice that your monthly rent amount will be increased upon your next lease renewal. If by chance you havent received notice yet, brace yourself because it's coming soon! Rent increases have become a painful "norm" for apartment renters throughout the Dallas-Fort Worth Metroplex. Here's a look at how apartment rent increases compared across some of the largest cities in the D.F.W. 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.
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
North Richland Hills
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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