Pocketbook pain

This desirable Dallas suburb led the way for sky-high rent hikes in 2021, says report

The higher the rent, the further out of reach a down payment can be.

Photo by Krisanapong Detraphiphat/Getty

A recent New York Times article suddenly shot Euless to superstardom as the best place to live in the U.S. But now it has another, more dubious claim to fame: It's the Dallas-Fort Worth city with biggest sticker shock for renters last year.

An analysis by the Zumper website of rents in 14 DFW cities found the typical rent for a one-bedroom apartment in Euless jumped a whopping 25.3 percent from December 2020 to December 2021. That ranks as the steepest increase among the 14 cities. A one-bedroom apartment in Euless currently rents for $1,140 (which is low compared to some other local cities, like Frisco — keep reading).

Irving and Lewisville weren’t far behind Euless for the year-over-year rise in rent for a one-bedroom apartment. In Irving, the typical rent went up 24 percent to $1,290. Lewisville saw the typical rent for a one-bedroom apartment climb 23.8 percent to $1,300.

Only one of the 14 cities witnessed a single-digit rise in the rent for a one-bedroom apartment in December 2021 compared with December 2020. In Fort Worth, rent increased 6.7 percent to $1,120.

By comparison, the rent for a one-bedroom apartment in Dallas climbed 14 percent from December 2020 to December 2021, landing at $1,380.

Meanwhile, the Zumper analysis shows the region’s highest December 2021 rent for a one-bedroom apartment was in Frisco ($1,530, up 21.4 percent from December 2020). Next in line were Richardson ($1,460, up 15 percent) and Plano ($1,430, up 19.2 percent).

At the other end of the scale, Arlington claims the cheapest rent for a one-bedroom apartment — $1,000, up 11.1 percent from a year earlier. Arlington is preceded by Denton ($1,050, up 10.5 percent) and Garland ($1,090, up 17.2 percent).

The rise in DFW apartment rents reflects more demand than supply. From 2010 through 2020, North Texas has ranked first for apartment demand among U.S. metro areas, according to RealPage, a supplier of apartment data and analytics.

A new report from ApartmentData.com shows the December apartment occupancy rate in DFW stood at 93.4 percent. That was the highest occupancy rate among the state’s four major metro areas.

“In what has been a remarkable bounce-back year for the multifamily industry nationally, the Dallas-Fort Worth market has been the leader in both new supply and apartment demand,” ALN Apartment Data reported in October.

rent reports

Made-for-TV listing

Chip and Joanna Gaines put fixed-up Waco mansion on market for $7.4M

Facebook/Magnolia Realty

A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

A Waco estate that will star in Chip and Joanna Gaines’ latest TV series, Fixer Upper: Chip Bought a Mansion, has gone on the market for $7.4 million.

The more than 14,000-square-foot mansion sits on a 5.7-acre site at 5305 Hillcrest Dr. that boasts views of Lake Waco. The listing, held by Amanda Nesbitt of the Gaineses’ Magnolia Realty, says the home “will be thoughtfully reimagined to reveal a timeless, more neutral-leaning palette for a future owner.”

Listing photos show the pre-renovation state of the mansion.

The European-style mansion, featuring a red-brick and cast-stone façade, looks similar to luxury homes you’d find in Preston Hollow, Highland Park, and other high-end neighborhoods in the Dallas area.

A light-filled, two-story foyer with a floating staircase and ornate iron banisters greets visitors, as do parquet flooring and stately columns.

Gaines Waco mansion The mansion foyer before the renovation.Facebook/Magnolia Realty

Venturing into the six-year-old home, you’ll find six bedrooms and 11 bathrooms. The first-floor primary suite offers two bathrooms, several closets, and courtyard access. A guest suite comes with a bedroom, bathroom, living area, kitchenette, and private entrance.

Amenities include:

$\u200bGaines Fixer Upper mansion$

Facebook/Magnolia Realty

A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

Private study
Billiard room
Media room
Wet bar
Wine cellar
Butler’s pantry
Gym with a steam shower

Outside, several covered porches, an outdoor kitchen, an infinity-edge pool, and a pond let residents and visitors soak up nature. A motor court and four garage bays provide ample space for parking.

As part of the Fixer Upper renovations, the home’s architectural details, such as trim, moldings, and millwork, “will be preserved and elevated in order for their craftsmanship to shine,” the listing says.

Gaines Waco mansion The mansion has a splendid view of Lake Waco.Facebook/Magnolia Realty

Meanwhile, the kitchen will be turned into the “central heart” of the mansion, according to the listing.

“Additional design refinements throughout the home will set an elegant, renewed vision for all that Hawkesdene Estate will become,” the listing says.

Fixer Upper: Chip Bought a Mansion, a six-episode series, is scheduled to debut Dec. 27 on the Gaineses’ Magnolia Network and HGTV. New episodes will be available to stream the next day on HBO Max, according to TV Insider.

Chip purchased the mansion three years ago as an investment property, People magazine reported. The series follows the Gaineses as they confront budget challenges and a three-month deadline to sell the property.

“This will be the biggest fixer we’ve ever done,” Joanna says in a clip from the show.

Chip and Joanna recently sold a 136-year-old Waco castle that served as the foundation of another series, Fixer Upper: Welcome Home – The Castle. They listed 6,176-square-foot Cottonland Castle at nearly $2.7 million. The sale price wasn’t disclosed.

chip and joanna fixer upper hgtv luxury mansion texas waco home-for-sale