Lively market

Dallas-Fort Worth home prices could climb this high in 2021, says new forecast

The Dallas-Fort Worth market continues to be hot.

Photo by Sean Pavone/iStock

If a new prediction is accurate, the median home price in Dallas-Fort Worth would reach at least $316,000 in 2021, and home sales growth would surpass that of Texas’ three other major metro areas.

Realtor.com predicts DFW will see combined sales and price growth of 15.7 percent next year in the housing market compared with 2020. That figure puts it at No. 22 in Realtor.com’s ranking of the top 100 major metro areas; it’s the highest ranking among the state’s four major metros. DFW’s 15.7 percent number breaks down to 11.3 percent for sales growth and 4.4 percent for price growth.

If Realtor.com is correct, the 4.4 percent growth rate for home prices could push the median home price in DFW to more than $316,800 in 2021 from $303,500 in October. That growth rate would be welcome news, though. From October 2019 to October 2020, the median price of a home in DFW jumped 12.4 percent, according to the Real Estate Center at Texas A&M University.

Meanwhile, projected sales growth of 11.3 percent would make for a busy 2021 for DFW homebuyers and home sellers. Spurred by historically low mortgage interest rates, a record-setting 12,829 homes were sold in DFW in July, the Texas A&M center says.

“We expect a healthy level of growth across Texas metros in 2021, with prices expected to rise 4 to 5 percent in each of the major metros and sales expected to grow between 5 and 11 percent over 2020,” says Danielle Hale, chief economist at Realtor.com. “An improving economy that drives strong job growth is a big contributing factor in these metros, in addition to above-average household growth.”

“Younger buyers are already doing well in most of these markets,” Hale adds, “and because they make up an above-average portion of the population in these metros, we expect them to contribute to healthy sales growth.”

Elsewhere in Texas:

Austin could be the state’s most challenging market in 2021 for younger homebuyers, Hale says. That’s because Austin is a competitive market where the median home price surged 19.7 percent from November 2019 to November 2020, she says, and because hefty down payments “are a big hurdle for first-time buyers.”

Among the state’s four major metros, Austin ranks second in the Realtor.com forecast. Its national ranking sits at No. 37, with year-over-year sales growth pegged at 8.6 percent and year-over-year price growth projected to be 4.6 percent for a combined total of 13 percent.

At No. 47 nationally is San Antonio. There, the sales growth rate in 2021 is expected to be 7.2 percent and the price growth rate is predicted to be 4.3 percent for a combined total of 11.5 percent.

Houston lands at No. 61 on the Realtor.com list. The website envisions 5.3 percent growth for sales and 4.6 percent growth for prices for a combined total of 9.9 percent.

At No. 16, El Paso is the top-ranked Texas market in the Realtor.com forecast. The combined 17 percent growth rate envisioned for 2021 comprises 10.6 percent growth in sales and 6.4 percent growth in prices.

Here are the top five metro markets in Realtor.com’s outlook:

Sacramento, California, 24.6 percent overall growth rate
San Jose, California, 21.6 percent overall growth rate
Charlotte, North Carolina, 19 percent overall growth rate
Boise, Idaho, 18.9 percent overall growth rate
Seattle, 18.4 percent overall growth rate

reports rankings lists

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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