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Building news

Dallas will boom with most new apartments in U.S. this year, report says

John Egan
Aug 20, 2020 | 10:36 am
Uptown Dallas apartments with skyline
Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year.
HIgs2006/Getty Images

The coronavirus pandemic has brought many activities to a unsettling halt. But it has failed to blunt Dallas' apartment construction boom.

New data from Yardi Matrix, a supplier of commercial real estate data and research, shows shows that Dallas comes in at No. 8 in the U.S. for most apartments completed during the first six months of 2020, with 1,869 apartments built. Neighboring Farmers Branch lands at No. 18, with 1,161 units.

But the bigger news is what's to come, the research suggests. In the Yardi Matrix forecast, Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year — 19,318.

This would be DFW’s third year in a row to lead all metro areas for annual apartment construction, with New York City claiming second place.

While that’s an impressive number of apartments, this year’s anticipated final total for DFW would be down 29 percent versus last year, Yardi Matrix says.

Little surprise to those paying attention to Texas real estate: More apartments were completed in Austin during the first six months of 2020 than in any other U.S. city. In the first half of the year, construction of 3,827 apartments was finished within the city of Austin, according to Yardi Matrix.

Right behind Austin on that list is San Antonio, where 2,871 new apartments hit the market in the first half of this year. Also in the top 20 is Houston, No. 7 with 2,085 apartments.

“Around the U.S., we have seen a variety of states, counties, and cities choose to close nonessential businesses for ‘stay at home’ or ‘shelter in place’ orders. For the most part, construction activity has been included as an essential activity that can continue with business as usual during these orders,” Doug Ressler, manager of business intelligence at Yardi Matrix, says in a release.

As far as other statewide forecasts go, the entire Austin metro area is projected to complete 9,342 apartments this year, according to Yardi Matrix. In that category, Austin ranks fifth among U.S. metro areas. Compared with last year, completion of new apartments in the Austin area is expected to rise 9 percent in 2020.

“The popular Texas metropolitan area saw an increase of 62,000 residents from 2018 to 2019,” Yardi Matrix says. “In response to the high demand, Austin metro has been an active scene for new construction in the past five years, having completed over 50,000 new apartments since 2016.”

In third place for projected apartment completions in 2020 is the Houston metro area. Yardi Matrix foresees the region welcoming 10,404 new apartments this year, up 2 percent from 2019.

Coming in at No. 19 for predicted apartment completions this year is the San Antonio area, with 4,595 new units on taps. However, that total would represent a 20 percent jump over last year, putting San Antonio in fourth place for the percentage increase from 2019 to 2020.

reports rent
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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