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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Here's how much rent prices have dropped in Dallas-Fort Worth since 2025

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Rent prices are on the decline in most DFW cities.

Rent prices are falling statewide, and prices in certain Dallas-Fort Worth cities have declined by nearly 8 percent since last year, according to a new national rent report from Zumper.

The Zumper National Rent Report tracked year-over-year and month-over-month rent price changes in 100 U.S. cities for both one- and two-bedroom units using the most recent data available from May 2026.

Plano had the fourth-steepest rent decrease in Texas, with prices for one-bedroom units dipping 7.5 percent year-over-year to $1,360. Two-bedroom rent has dropped 5.5. percent from last year to $1,900.

In Dallas, one-bedroom rent prices fell 5.6 percent to $1,350, and two-bedroom rent is down 6.4 percent since last year to $1,900.

Arlington was the only major Texas city where rent prices increased from May 2025 to May 2026. One-bedroom rent increased nearly 3 percent to $1,090, and two-bedroom rent increased 2.1 percent to $1,480.

The cost for a single-bedroom apartment in Irving is $1,280, or the same price as it was a year ago, the report found. Two-bedroom units are 3 percent cheaper than they were last year, at $1,610.

In Fort Worth, respective rent costs for one- and two-bedroom units come out to $1,240 and $1,560.

Rent prices elsewhere in Texas
San Antonio saw the steepest drop in rent prices statewide, with one-bedroom rents falling by 10.4 percent to $950. Two-bedroom units have declined 6 percent year-over-year to $1,250.

These are the rent prices for other Texas cities in May 2026:

Austin: $1,420 for one-bedroom units; $1,860 for two-bedroom units
El Paso: $810 for one bedroom; $1,130 for two bedrooms
Houston: $1,130 for one bedroom; $1,430 for two bedroom

The report also revealed that four of the 10 U.S. metros offering the most concessions are located in Texas. Austin leads nationally with more than a third of rental units "dangling incentives to fill space," followed by San Antonio, Houston, then Dallas. A separate rent report from real estate data firm CoStar found Dallas-Fort Worth had the fifth highest apartment vacancy rate in the U.S. in March, meaning residents may be able to save on their rent depending on the financial incentives offered by landlords.

Additionally, these same markets offering generous rent concessions are also among the 10 U.S. metros with the largest population growth, which Zumper says signals ongoing tension between tenants and their landlords regarding prices.

"So while Texas absorbed a significant share of the 2023-2025 supply wave, inventory still has to lease up before landlords regain pricing power, and the steady inflow of new residents says the demand is there," the report said. "It’s just a question of when supply stops outrunning it."

From 2023 to 2024, Texas gained nearly 73,000 net new renters, making it the No. 1 magnet for renters nationwide.

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