In June, rent prices for one- and two-bedroom apartments were more expensive in Frisco than they were anywhere else in Dallas-Fort Worth, according to the latest monthly rental report from Zumper.
The rent report, which analyzed active listings from the previous month across all cities in the Dallas-Fort Worth metro, tracks the most and least expensive rent prices for one- and two-bedroom apartments, and determines the cities with the fastest growing rents. Listings were aggregated by city to calculate median asking rents.
Despite having the most expensive rent in Dallas-Fort Worth last month, the asking rent for one- and two-bedroom apartments in Frisco is technically lower than it was a year ago. Frisco's asking rent for one-bedrooms dropped 1.8 percent year-over-year to $1,630, while asking prices for two-bedroom units dropped 2.7 percent to $2,170.
Dallas saw the second-highest jump in rent prices year-over-year this past June, with rent prices for single-bedroom apartments rising 1.4 percent to $1,450. Two-bedroom apartments in Dallas dropped 1.5 percent year-over-year to $2,000, tying with The Colony for the second-highest rent for two-bedroom units in the metro.
Rent in Euless went up 5.4 percent since last June to $1,370, which Zumper found was the fastest-growing rent price in Dallas-Fort Worth. Euless also had the largest growth rate month-over-month, with rents soaring 6.2 percent from May to June.
The top 10 DFW cities with the most expensive one-bedroom rent prices in June were:
- Frisco – $1,630
- The Colony – $1,580
- Rockwall – $1,570
- Richardson – $1,560
- Farmers Branch – $1,460
- Dallas – $1,450
- Plano – $1,410
- Euless – $1,370
- Carrollton and McKinney (tied) – $1,330
DFW cities with affordable rent compared to the statewide median
Zumper's report revealed that the median asking rent for a one-bedroom apartment in Texas came out to $1,134 last month, but there was no figure given for two-bedroom units.
Out of the 25 Dallas-Fort Worth cities included in the report, only five had affordable asking rent prices lower than the statewide median: Benbrook ($960), Arlington ($1,060), Mesquite ($1,080), Garland ($1,100), and Cleburne ($1,110).
Benbrook rent prices are the most affordable in the metro, as its current asking price is 12.7 percent lower than it was this time last year.
Asking rents for one-bedroom apartments in Bedford were only $4 more than the median asking rent in Texas, which also makes the suburb a much more affordable place to live than most other DFW-area cities.
The top 10 DFW cities with the most affordable one-bedroom rent prices in June were:
- Benbrook – $960
- Arlington – $1,060
- Mesquite – $1,080
- Garland – $1,100
- Cleburne – $1,110
- Bedford – $1,140
- Denton – $1,180
- Weatherford – $1,190
- Grand Prairie – $1,200
