Rent Report

Dallas apartment prices rise slightly amid COVID-19, says new report

Dallas rent prices rose about 1 percent over the last quarter.

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The pandemic has not put much of dent in Texas rental demand, according to new data from Abodo.

The online apartment marketplace says Texas' median one-bedroom apartment rent fell just $7 from April to June 2020, down to $1,012 from $1,019. Conversely, national one-bedroom median rents rose about 1 percent, growing slightly from $1,088 in April to $1,097 in June.

Dallas' second quarter one- and two-bedroom residential rental markets were up slightly, mirroring the national trend. One-bedroom units rose $15, from a median price of $1,169 in April to $1,284 in June. Two-bedrooms reported some interesting movement during the 90-day period, says Abodo, but they settled at $1,466 — a 1.5 percent increase from the April median price of $1,445.

Dallas is still holding its own, and many are optimistic that the North Texas residential rental market will remain stable even during times of increased COVID-19 infections. As a whole, the Texas residential rental market remains steady for several reasons:

Amid the pandemic, many people are staying put and have put off moving plans for now.
Some residents have had to sell homes they could no longer afford and have therefore entered the rental market.
Landlords are reluctant to raise rents when collecting rent during COVID-19 can be an issue.
Some new apartment developments have slowed or paused construction.

Overall, property managers and landlords are facing a new normal of life, specifically in this virtual world during the COVID-19 pandemic, Abodo explains.

But decreases in supply have offset instances of falling demand, and therefore, the market is stable right now. If the economy does not improve, construction financing could dry up quickly, and paused apartment construction may stay that way.

In the coming months, we may continue to see lessened demand tempered by smaller apartment supply, pointing to continued market stagnation. However, if the economy improves and apartment demand returns to normal, Abodo says, Dallas could see a more rapid rise in rent prices.

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Dallas Got Robbed

The richest small town in Texas is surprisingly not in Dallas

Facebook / City of Bellaire, Texas

Houston neighbor Bellaire is the richest town in Texas.

A survey of affluent small towns has found one town in Texas to be at the top of the list, but shockingly, it is not in Dallas. The town of Bellaire, a small enclave within the Houston metro area, has earned the top spot as the richest small town in Texas for 2025. Boo.

The report, "The Richest Small Town in Every State," from GoBankingRates, selected one city from each state, using data from the U.S. Census Bureau's American Community Survey to determine the 50 richest small towns based on their median household income.

Describing Bellaire as a "small town" might be a misnomer. It's located less than 10 miles from downtown Houston and is fully surrounded by the City of Houston. It's really more of a wealthy enclave within Houston, with a population of just over 17,000 residents.

Those affluent citizens earn a median $236,311 in income every year, which GoBankingRates says is the 11th highest household median income out of all 50 cities included in the report.

The average home in this city is worth over $1.12 million, but Bellaire's lavish residential reputation often attracts properties with multi-million-dollar price tags.

Bellaire also earned a shining 81 livability score for its top quality schools, health and safety, commute times, with an abundance of exceptional local amenities.

Those include conveniently located grocery stores, coffee shops, diverse dining options, and spacious parks.

It's not the first time that Bellaire has caught the eye of GoBankingRates, which previously ranked it as the No. 23 wealthiest suburb in America, and it's been named on similar lists comparing the richest American cities.

Dallas can take comfort in the fact that a different survey found Lewisville to be of the cities attracting the most high-income households, meaning those that make more than $200,000. However, census data places the most recent median income in Lewisville at $85,002 — so it's nowhere close to catching up to Bellaire.

suburbs houston bellaire affluent households