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

Going Down

This Dallas suburb saw 5th biggest drop in home prices in U.S. in 2026

Photo courtesy of City of Plano

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Good news for potential Dallas-area homebuyers: Housing prices in Plano have come down nearly $30,000 since last year.

Typical home values in Plano have fallen 5.1 percent since February 2025, now standing at $501,564, down from $528,510.

The new housing study from SmartAsset analyzed home values across the 100 biggest metro areas using Zillow’s Home Value Index tool for single-family homes, condos, and co-ops. Home value data was sourced for the month of February in 2021, 2025, and 2026.

Plano is joined by Oakland, California (No. 1); Saint Petersburg (No. 2); Naples, Florida (No. 3); and Austin (No. 4) as the top five U.S. cities with the biggest one-year home price reductions in the U.S.

Housing prices in Dallas-Fort Worth have been on the decline since 2024, a separate study found, but SmartAsset said they're still a whopping 32.4 percent higher than they were in 2021. And compared to Plano's pre-pandemic housing market in 2019, prices have ballooned by 44.1 percent.

Here's how much cheaper housing prices are in other North Texas cities:

Dallas:

One year change: -3.79 percent
Typical home value in 2025: $317,550
Typical home value in 2026: $305,523

Arlington:

One year change: -3.41 percent
Typical home value in 2025: $318,649
Typical home value in 2026: $307,792

Fort Worth:

One year change: -3.08 percent
Typical home value in 2025: $305,236
Typical home value in 2026: $295,822

DFW homeowners are also entering the best time of the year to sell their houses, which could add a sudden sense of competitiveness for buyers.

Home prices elsewhere around the U.S. have seen varying changes, according to the report.

"Between 2025 and 2026, the typical home value in large U.S. cities actually declined by 1.04 percent, with values dropping in 70 percent of cities," the report's author wrote. "But the full range of changes from market to market ran the gamut from -9.1 percent to +5.01 percent, putting both hopeful buyers and homeowners in starkly different environments across the nation."

The top three U.S. cities where home prices increased the most since 2025 are Toledo, Ohio (No. 2); Lincoln, Nebraska (No. 2); and San Francisco (No. 3).

The 10 cities with the biggest one-year decreases in home values are:

No. 1 – Oakland, California
No. 2 – Saint Petersburg, Florida
No. 3 – Naples, Florida
No. 4 – Austin
No. 5 – Plano
No. 6 – Aurora, Colorado
No. 7 – Denver
No. 8 – Atlanta
No. 9 – Stockton, California
No. 10 – Tampa

housing prices housing market real estate smartasset reports plano dallas arlington fort worth