A solid foundation

Dallas deemed the No. 7 U.S. housing market for growth and stability

The Dallas market is hot — but investing in a home here is a good bet.

Photo by Ariel Skelley/Getty

While housing markets throughout the United States continue to shatter price records, a new study shows that markets in Texas — including Dallas — are the best for growth and stability.

In the study, "Best (and Worst) Housing Markets for Growth and Stability – 2022 Edition," finance website SmartAsset compared home value data in 400 metropolitan areas across the U.S. They looked at statistics from every quarter from the first quarter of 1997 through the fourth quarter of 2021.

Half of the metro areas in the top 20 are in Texas.

Dallas-Plano-Irving places seventh, with a 228 percent rise in prices from 1997 through the end of 2021. It estimates there's only a 1 percent chance that a Dallas-area home would suffer a 5 percent drop in value within 10 years of being purchased.

Next door, Fort Worth-Arlington-Grapevine ranks 15th, with a 213 percent rise in home prices and, like Dallas, a 1 percent chance of a 5 percent loss in value in value over a 10-year period.

By comparison, Austin ranked No. 1 in the study (up from No. 2 last year). Austin-area home prices soared 368 percent from 1997 through the end of 2021, the study says. That was the biggest spike among all of the metro areas examined in the study. Meanwhile, it estimates there’s a zero percent chance of a 5 percent loss in value over a 10-year period.

Home-buying expert Liz Hutz notes that the two main drivers of home price increases are economic growth and job creation, both of which have enjoyed a torrid pace in Texas. For instance, Texas in November surpassed its previous pre-pandemic employment high by inching close to 13 million jobs.

“We will continue to unleash the full might of our economy, attract new business investments, and ensure a more prosperous future for all who call Texas home,” Gov. Greg Abbott vowed in December.

Elsewhere in Texas:

In SmartAsset’s 2020 and 2021 studies, Midland, Texas, ranked first for growth and stability. This year, it lands at No. 3. According to the 2022 study, home prices in the Midland area jumped 266 percent from 1997 to 2021, with a zero percent chance of a 5 percent decrease in home value over a 10-year period.

Houston ranks sixth, with a 221 percent rise in home prices over a 25-year span and a zero percent chance of a 5 percent loss in value over a 10-year period.

San Antonio comes in 11th, with a 214 percent rise in home prices over a 25-year span. It also has a zero percent chance of a 5 percent loss in value over a 10-year period.

Odessa (No. 8), San Angelo (No. 10), Waco (No. 12), and Bryan-College Station (No. 17) are also among SmartAsset's best markets for growth and stability.

Nationally, the three cities joining Austin and Midland in the top five best cities for growth and stability are: Boulder, Colorado (No. 2), Rapid City, South Dakota (No. 4), and Fort Collins, Colorado (No. 5).

The five worst are: Flint, Michigan (No. 1), Monroe, Michigan (No. 2), East Stroudsburg, Pennsylvania (No. 3), Detroit-Dearborn-Livonia, Michigan (No. 4), and Rockford, Illinois (No. 5).

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rent report

2 Dallas suburbs have the highest rents in DFW right now, report finds

Photo courtesy of Simpson Property Group

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After American shoppers spent $11.5 billion on Black Friday this year, it's safe to say many people are watching their wallets this holiday season, including renters. And a new report is shedding light on the North Texas cities that are shelling out the most for their rent.

Zumper's newest monthly rent report, released December 2, analyzed active listings from the previous month across all cities in the Dallas-Fort Worth Metroplex. It tracked 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.

Frisco and The Colony tied for having the highest rent prices in Dallas-Fort Worth in November. According to the study's findings, the median rent price for a single-bedroom apartment came out to $1,620 last month in both cities. In Frisco, that's $10 lower than what it cost for the same apartment in June.

Frisco residents are expected to budget $3,491 for their holiday presents this year, WalletHub says, which means they might be watching their spending a lot more than other North Texas residents.

For two-bedroom units, median rent prices in Frisco rose 3.3 percent from October to $2,200. A two-bedroom apartment in The Colony rose 0.9 percent month-over-month to $2,130.

Grapevine's median rent prices were the third-priciest out of all cities in Dallas-Fort Worth. Zumper found that the median price for a one-bedroom apartment came out to $1,470, and two-bedroom units cost $1,840 in November.

Dallas tied with Plano for the fourth-highest rents in the metro area, the report said. Single-bedroom units cost the same amount between both cities ($1,470) while two-bedroom units were more expensive in Dallas ($2,060) than in Plano ($2,030).

For comparison, the price of one bedroom unit in Dallas was $30 cheaper in October, while two bedroom units cost $20 less than November's asking price. In September, asking rent for single-bedroom apartments added up to $1,480, while two bedroom units cost $2,100 per month.

These are the median rent prices for one- and two-bedroom apartments across Dallas-Fort Worth:

Richardson – $1,420 for one-bedroom units; $1,750 for two-bedroom units
McKinney – $1,400 for one-bedroom units; $1,850 for two-bedroom units
Carrollton – $1,360 for one-bedroom units; $1,730 for two-bedroom units
Lewisville – $1,300 for one-bedroom units; $1,700 for two-bedroom units
Burleson – $1,250 for one-bedroom units; $1,620 for two-bedroom units
Weatherford – $1,240 for one-bedroom units; $1,370 for two-bedroom units
Irving – $1,220 for one-bedroom units; $1,650 for two-bedroom units
Fort Worth – $1,190 for one-bedroom units; $1,450 for two-bedroom units
Grand Prairie – $1,170 for one-bedroom units; $1,560 for two-bedroom units
North Richland Hills – $1,160 for one-bedroom units; $1,460 for two-bedroom units
Haltom City – $1,150 for one-bedroom units; $1,430 for two-bedroom units

DFW cities with affordable rent compared to the statewide median
Zumper found the statewide median rent for a one bedroom apartment came out to $1,126 last month.

Cleburne had the most affordable rent for a one-bedroom unit in all of Dallas-Fort Worth, with median prices adding up to an even $1,000. The report also found that Cleburne's single-bedroom rent costs are 10.7 percent lower than they were a year ago. The median cost for a two-bedroom unit in Cleburne ($1,190) is 8.5 percent lower than it was in November 2024.

Six more Dallas-Fort Worth cities had more affordable single-bedroom rent prices than the statewide median: Bedford ($1,110), Mesquite ($1,110), Hurst ($1,100), Denton ($1,090), Arlington ($1,080), and Benbrook ($1,020).

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