411 for renters

2 North Texas cities rank among best places to find new apartments in 2023

Every apartment complex must have a great pool.

Photo by Flood Photography, courtesy of Greystar Properties

Renters seeking new apartments could have the best luck finding their new home in two Dallas suburbs, a new study says.

RentCafe has named Frisco and McKinney as the fourth and fifth best cities for finding new apartments in 2023, respectively. The apartment listing service ranked the top 50 U.S. cities for finding new apartments by analyzing the number of new apartments opened in the last 10 years, how large they are, the most recent occupancy rate, and the quality of neighborhoods where they are located.

The RentCafe report notes that apartment buildings are almost full in every metro area across the U.S., meaning renters have a higher chance of finding available apartments in newly built communities.

So, what made Frisco and McKinney stand out?

Over the last 10 years, Frisco has seen a 194.7% increase in new apartments, according to the study. The city also boasts a 92.9% share of new apartments in top locations and an occupancy rate of 95.1%. The average apartment size in Frisco is 933 square feet.

Frisco is also one of the fastest growing cities in the U.S., thanks to its “booming economy, amazing sports scene, countless entertainment options, proximity to the great outdoors and high safety rating,” the study says.

As for McKinney, the city has increased its new apartments by 111% in the last 10 years and has 90.5% of its apartments in top locations. The average apartment size is 918 square feet, and 94.1% of McKinney apartments are occupied.

Much like Frisco, McKinney has “a thriving economy, great quality of life and high-paying job opportunities in various industries,” the study says.

Texas cities dominated the ranking with 12 cities in the top 50, six of which made it into the top 10. In addition to Frisco and McKinney, the cities of Midland (No. 2), Humble (No. 3), Spring (No. 8), and Katy (No. 10) also made it to the top 10.

Boca Raton, Florida took the No. 1 spot in the survey.

No. 2-ranked Midland, which is part of the Permian Basin area, saw a 56.8% increase in new apartments. About 40.7% of the city’s apartments are in top locations, and the average size of new apartments is 913 square feet. Meanwhile, about 81.8% of the apartments are occupied.

In the Houston suburb of Humble, which ranks No. 3, there has been a 45.2% increase in new apartments over the past decade. The occupancy rate is 91.1%, and the average size of new apartments is 925 square feet. About 78% of new apartments are in top locations.

Humble’s suburban location and proximity to Houston could be what entices renters to move to the “hidden gem,” the study says.

Also a Houston suburb, No. 8-ranking Spring boasts an occupancy rate of 94.5% and an average apartment size of 947 square feet. New apartments have increased 112.4%, and 48% of new apartments are in top locations.

Spring has seen substantial growth, mostly thanks to ExxonMobil’s 2011 decision to build a campus there and expand its operations in Texas. While the campus was being built, many ExxonMobil employees relocated from Irving to Spring.

The tenth best city and another Houston suburb, Katy, has seen a 123.2% increase in new apartments. About 44.9% of those apartments are in top locations, and the average occupancy is 94.9%. The average size of new apartments is 951 square feet.

Katy offers “the best of both worlds” to many renters: small-town charm and big-city amenities. The city’s highly rated schools and major employers contribute to its success. Also, Katy is a popular retirement spot because of its health care facilities and recreation centers.

Elsewhere in Texas, the top 50 included a mix of bigger cities, college towns, and suburbs:

Round Rock, No. 22
Increase in new apartments: 36%
Share of new apartments in top locations: 91%
Occupancy: 92.6%
Average size of new apartments: 895 square feet

Richardson, No. 25
Increase in new apartments: 79.5%
Share of new apartments in top locations: 96.5%
Occupancy: 95.7%
Average size of new apartments: 877

College Station, No. 31
Increase in new apartments: 49.6%
Share of new apartments in top locations: 19.9%
Occupancy: 94.4%
Average size of new apartments: 1,039 square feet

Houston, No. 35
Increase in new apartments: 20%
Share of new apartments in top locations: 63.9%
Occupancy: 89.9%
Average size of new apartments: 929 square feet

Conroe, No. 36
Increase in new apartments: 85.4%
Share of new apartments in top locations: 30%
Occupancy: 95.1%
Average size of new apartments: 935 square feet

Plano, No. 42
Increase in new apartments: 27.4%
Share of new apartments in top locations: 92.7%
Occupancy: 93.3%
Average size of new apartments: 905 square feet

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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