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

Downtown News

Historic West End Dallas mixed-use complex gets familiar new owner

Courtesy

Market Ross Place

A historic building in Dallas' historic West End has a familiar new owner: Five Smooth Stones, a real estate company that specializes in renovation, just acquired Market Ross Place, a mixed-used combination of three buildings located at 1701 N. Market St.

Five Smooth Stones is led by Owen Hannay, Dallas native and West End enthusiast who first began investing in the neighborhood in 2000, and is now making a return to the historic area to breathe in new life.

“We have had a lot of success in the West End over the past 25 years but, like many other districts, it tends to be cyclical, so we find ourselves with a lot of opportunity to improve the West End — again," Hannay says in a statement.

Market Ross Place consists of three buildings connected by a five-story atrium, comprising four restaurants and office space totaling approximately 142,000 square feet. It was built in 1905 and is listed on the National Register of Historic Places.

Hannay also bought three retail buildings across from Market Ross, a parcel that includes the Museum of Illusions; the former Gators restaurant; and a building containing Mas Tacos and Cannon Bakery. He also bought the West End Parking Garage, which includes 35,000 square feet of retail and more than 650 parking spaces on six levels.

These acquisitions closed in March 2026.

Hannay, who also owns Dallas ad agency Slingshot LLC, first began investing in the West End when he acquired the Awalt Building at 208 N. Market St. in 2000. He went on to buy other West End properties such as a three-building portfolio at Elm and North Record streets, giving him one of the largest stakes in the neighborhood, with ownership of nearly one quarter of the 1 million square feet of office space in the area.

Over the years, Five Smooth Stones has purchased and renovated almost 1,000,000 square feet of historic office and retail space in The West End.

One of their most high-profile purchases was the Landmark Center, the six-story building at 1801 N. Lamar St. that was formerly a regional center for the FBI and also served as the first office HQ for CultureMap Dallas when the site launched in 2012. Five Smooth Stones bought it in 2004, renovated it, sold to Argus Realty Investors LP in 2006 — then bought it back again in 2023.

The Landmark Center is one of many properties in the West End that has undergone multiple ownership changes, bouncing from local companies like Five Smooth Stones to institutional companies — often with less than ideal results.

“When we sold our holdings in the West End in 2015, office occupancy in the district was probably over 90 percent," Hannay says. "We intend to get there again by proving that businesses want high-quality, well priced, centrally located historic space that exists in a genuine neighborhood that provides a human scale to live in, work in, and play in."

To that end, Five Smooth Stones has signed several new lease agreements in the Landmark Center, as well as facilitating the comeback of Ellen's Restaurant into its old space at Market Ross.

The new office tenants at Landmark include:

The Law Offices of Dean Omar Branham Shirley, LLP, a leading law firm, leasing almost 16,000 sq ft
HighLevel Inc., a marketing technology company with 15,700 sq ft on the fifth and sixth floors
Benchmark Group Architects, with 7,500 sq ft on the first floor
The Houston Room, an event venue occupying 6,000 sq ft on the fourth floor

… along with several smaller tenants including Corgan Architects Model Studio, Wildcat Investments, Cravens Brothers, JF Depetris, Jr., CPA and Collabridge Solutions, Inc.

The new leases bring The Landmark Center to more than 50 percent occupancy, with additional build- to-suit leasing opportunities available ranging from 2,000 to 30,000 sq ft.

"I believe that the leases we have already signed are indicative of demand,” Hannay says.

dallas west end downtown historic building sustainability

411 for renters

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

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