Housing crunch

Dallas apartment renters squeezed into 3rd tightest market in Texas, says report

Availability is limited.

Photo courtesy of Greystar Properties

Many looking to rent an apartment in Dallas might be having a hard time — and RentCafe offers the reason why in its year-end report on Texas' most-competitive rental markets.

Dallas was the state's third most competitive market in 2022, behind El Paso and McAllen.

In Dallas, there are 14 renters for every available unit, and those who spy a vacant apartment better grab it fast. RentCafe says the units in Big D stay vacant for only about 30 days.

More than 95 percent of apartments for rent in Dallas were occupied last year, which was partly due to the fact that nearly 63 percent of renters decided to renew their leases, the report says.

"Dallas — or its suburbs, to be more specific — continued to be the top destination for out-of-state renters coming from coastal areas, especially California," RentCafe says. "In fact, Irving was named the number one magnet for relocating renters in the U.S. in a report by StorageCafe."

That's also the story in neighboring Fort Worth, which sees 13 prospective renters for every available unit.

"Interestingly, El Paso, Dallas and Fort Worth saw the most interest from renters in all of Texas this year, with an average of 13 to 15 candidates competing for the same vacant apartment," RentCafe says.

That's great news for rental property owners, even as it's likely causing stress for those looking to find new digs and aren't interested in home ownership.

Elsewhere in Texas, in Austin, 12 prospective renters are vying for every available unit, and those units stay vacant, on average, for only a month before someone else signs a lease.

In Houston, renters are mainly staying put, renewing their leases into 2023. According to RentCafe, for every available apartment in Houston, there are, on average, 11 renters vying to live there.

In the state's hottest market, El Paso, there are 15 renters looking for every available unit. And available apartments there stay vacant for only 28 days.

So, why can't Texans find apartments in Texas? Blame supply and demand. There are more people looking to rent than are places to rent.

"Markets in Texas continued to attract out-of-state renters looking for better job opportunities and a more affordable lifestyle," read a summary of RentCafe's report.

The bright side to all of this? We're not Miami. The Florida city topped Rent Cafe's list of most-competitive markets, where 32 prospective renters are competing for every available unit.

rent reports

where the stars live

NFL running back Derrick Henry is selling his $1.6 million Dallas home

Derrick Henry's Dallas home for sale at 7307 Kaywood Drive

Photo courtesy of Full Package Media/Compass

7307 Kaywood Drive is located in Dallas' Inwood Park neighborhood.

Baltimore Ravens running back Derrick Henry is leaving Dallas behind — and that means he's put his Inwood Park home on the market for $1.595 million.

Spanning 4,010 square feet across two floors, Henry's residence at 7307 Kaywood Dr. is understated on the outside and a modern marvel on the inside. The listing is managed by Compass agent Julie Provenzano.

Upon entering through the front door, visitors are greeted by an open concept layout that beautifully showcases the home's 20-foot high ceilings and the stunning floor-to-ceiling windows.

The chef's kitchen features black upper and lower cabinets, a stone waterfall island, deluxe gas appliances, and a walk-in pantry. The kitchen seamlessly flows into the spacious living room with a gas fireplace, as well as the dining area, which also connects to a second living area. Both living areas and the dining area all have their own separate access to the covered patio and backyard.

Derrick Henry's Dallas home for sale at 7307 Kaywood Drive The wide kitchen is an entertainer's dream.Photo courtesy of Full Package Media/Compass

The first floor also boasts a guest suite that can be alternatively used as an office or personal gym room.

An open stairway leads to the second level of the residence, which contains the expansive primary suite. The en-suite bathroom consists of two floating vanities, LED-lit mirrors, a standalone soaking tub, and oversized shower with striking black and white marble tile throughout. The larger-than-life custom closet is perfect for showing off its future owners' designer shoe or handbag collection.

Two more bedrooms with en-suite bathrooms can be found on the second floor of the home, as well as a full-sized utility room.

The property sits on a 8,200-square-foot lot with a fully turfed backyard, covered patio and gas fireplace. Additional features of the home include a second-floor balcony, automated privacy shades, a three-car garage, and a gated driveway.

According to Dallas Real Estate Blog, Henry bought this Dallas home in 2022 when it was on the market for $1.68 million. The Ravens running back, who formerly played for the Tennessee Titans, sold his Nashville home for $3.1 million in 2024 less than a year after signing his $16 million contract with his current team.

Photo courtesy of Full Package Media/Compass

7307 Kaywood Drive is located in Dallas' Inwood Park neighborhood.

nfl real estate dallas home for sale luxury housing