Welcome to the July 2021 Dallas Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the July 2021 key findings and figures for the Dallas rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Dallas and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Dallas average rent prices in the chart below.
Dallas rent prices increased over the last month. From June to July, the city experienced a 1.67% increase for the price of a one-bedroom apartment. The rent price for a Dallas one-bedroom apartments currently stands at $1,282.0.
When we take a look at the two-bedroom comparison from June to July, Dallas experienced a 2.71% increase for the price of a two-bedroom apartment. The rent price for a Dallas two-bedroom apartments currently stands at $1,706.0.
Rent prices have increased in Dallas over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 5 of the Dallas suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Lewisville, TX, Irving, TX, Plano, TX, Richardson, TX, The Colony, TX .
Rent decreased in Carrollton, TX, Farmers Branch, TX.
2 suburbs are currently priced higher than the city of Dallas.
5 suburbs are currently priced lower than the city of Dallas.
Rent growth in Dallas over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Dallas average rent prices appear to be relatively affordable for local residents.
The price for a Dallas one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's July 2021 National Apartment Report and data set here.
For more information about Dallas and surrounding area rent prices, take a look at the complete data set below.
| 1 BR July | 1 BR M/M % Change | 2 BR July | 2 BR M/M % Change | |
|---|---|---|---|---|
| Dallas, TX | $1,261.0 | 1.04% | $1,661.0 | 0.61% |
| Lewisville, TX | $1,271.0 | 0.47% | $1,688.0 | 0.48% |
| Irving, TX | $1,003.0 | 1.31% | $1,360.0 | 0.67% |
| Plano, TX | $1,235.0 | 3.00% | $1,657.0 | 2.28% |
| Richardson, TX | $1,372.0 | 1.33% | $1,760.0 | 3.41% |
| Carrollton, TX | $1,276.0 | -0.62% | $1,452.0 | 0.42% |
| The Colony, TX | $1,408.0 | 3.00% | $1,965.0 | 0.00% |
| Farmers Branch, TX | $1,265.0 | 0.00% | $1,850.0 | -0.64% |
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.