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Real Estate Report

Tanking oil prices may curb surge in Dallas and Houston home price appreciation

Jonathan Rienstra
Jan 14, 2015 | 12:41 pm

According to the latest report from CoreLogic, Texas is still among the best states in the country for home appreciation, particularly in Houston and Dallas, which took the top two spots in the company’s latest pricing forecast.

Home prices in the Dallas-Plano-Irving metropolitan area were up 9.1 percent in November 2014 compared to the same period last year. On a month-over-month basis, home prices increased 0.7 percent from October 2014. That 9.1 percent increase landed the Dallas area at the No. 2 spot nationally.

Houston took the No. 1 spot, with a 10.6 percent increase from November 2013 to November 2014. At the state level, home prices rose 8.5 percent from November 2013, enough for a No. 3 ranking.

Home prices in the Dallas-Plano-Irving metropolitan area were up 9.1 percent in November 2014 compared to the same period last year.

Across the nation, home prices are up 5.5 percent from the same time period last year, with a month-over-month increase of 0.1 percent. All states showed a year-over-year home price appreciation in November, and the home price index (HPI) reached new highs in seven states, including Texas.

The U.S. has experienced 33 consecutive months of year-over-year increases; however, the national average is no longer posting double-digit increases. Sam Khater, deputy chief economist at CoreLogic, said in a release that prices in some states, including Texas, might dip as the energy market experiences a downward trend.

“After decelerating for most of the year, home price growth has been holding firm between a 5 and 6 percent growth rate for the last four months,” Khater said. “However, pockets of weakness are clear in Baltimore and Washington D.C., and three of the top four states with the highest price appreciation are energy intensive and had been benefiting from the energy boom, which is currently receding as oil prices trend downward.

“These states — Texas, Colorado and North Dakota — may see some downward pressure on prices in 2015.”

CoreLogic president and CEO Anand Nallathambi said that even with an expected drop in prices coming up, 2015 is forecasted to continue to show growth in housing appreciation.

“The pace of home price gains have slowed as we exit 2014, but this is probably only a temporary lull,” Nallathambi said. “While the CoreLogic HPI Forecast shows a slight dip in prices next month, we believe that prices will be up a year from now as continued economic growth fuels buyer confidence and their willingness to purchase a home and invest in their future.”

To determine the home price index, CoreLogic, a residential property information, analytics and services provider, looks at price, time between sales, property type, loan type and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same single-family homes over time, which provides a more accurate “constant quality” view of pricing trends, as opposed to views of pricing trends based on analysis of all home sales.

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news/real-estate

living single

Dallas lands among 10 most affordable U.S. metros for living alone

Amber Heckler
Oct 21, 2026 | 9:10 am
Dallas skyline
Getty Images
In DFW, renters can afford to live solo.

Not everyone is cut out for living with roommates, but finding an affordable place to live alone can be tricky. Luckily, Dallas-Fort Worth sits among the top 10 most affordable U.S. metros for living by yourself, according to a new report.

Analysts at Apartments.com discovered North Texas renters spend the seventh lowest share of their monthly income on single-bedroom rent out of the 50 biggest metros in the U.S.

The study used a 30 percent "common budgeting guideline" to calculate the share of median renter household income spent on one-bedroom asking rents across the 50 largest U.S. metros, and determined renters can only afford to live alone in 24 of the 50 metros without crossing the 30 percent threshold.

The median annual income of a DFW renter household is $63,172, and the findings show the typical asking rent for a one-bedroom apartment comes out to $1,348 per month. The study determined single renters spend 25.6 percent of their monthly income on rent based on the budgeting suggestion.

Texas' favorable rental market also extends outside of the Dallas-Fort Worth Metroplex: Austin surprised as the No. 1 most affordable metro for living alone, and San Antonio appeared among the top 10.

Austin renters spend the smallest share of their income on single-bedroom apartment rent, at 23.1 percent. That's based on a median renter household income of $70,008 and a $1,348 monthly one-bedroom asking rent price.

Dwindling rent prices and the prevalence of major tech employers are also attracting new renters, and the city has an 11.6 percent apartment vacancy rate.

"The average rent in Austin has decreased year over year, and construction of new housing increased by 30 percent over the past decade," the report's author wrote. "Tax incentives in Texas draw large tech corporations, like Google and Apple, to the Austin area, which has increased average wages, added more jobs to the local economy, and attracted renters in the process."

San Antonio ranked right above DFW in sixth place nationwide with solo renters spending 25.4 percent of their monthly income on single-bedroom rent, coincidentally the same share as single renters living in Raleigh, North Carolina and Salt Lake City, Utah.

This is the income and one-bedroom rent data in San Antonio:

  • $51,029 – median renter household income
  • $1,082 – one-bedroom monthly asking rent

A separate Apartments.com survey found 39 percent of U.S. adults would never feel comfortable living with a roommate, and 16 percent of renters would rather pay more in rent to live alone than consider living with a roommate.

"Factors contributing to lower rents may include recent high levels of construction, rising vacancy rates as renter demand catches up to supply, and fewer regulations, such as flexible zoning and lower development costs compared to other parts of the country," the report said. "Living alone has become a non-negotiable for many renters, and some renters are willing to make tradeoffs to afford this lifestyle."

The top 10 most affordable U.S. metros for living alone are:

  • No. 1 – Austin
  • No. 2 – Oklahoma City
  • No. 3 – Phoenix
  • No. 4 – Raleigh, North Carolina
  • No. 5 – Salt Lake City, Utah
  • No. 6 – San Antonio
  • No. 7 – Dallas-Fort Worth
  • No. 8 – Denver
  • No. 9 – Portland, Oregon
  • No. 10 – Columbus, Ohio
real estate rent rent prices apartments affordability reports
news/real-estate
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