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Dallas, Texas Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Dallas, Texas rental market.

Dallas, Texas

Average Apartment Rent in February 2023

$1,577

Y-o-Y Change in Average
Apartment Rent

6.6%

Compared to a year ago, Dallas, Texas apartments have recorded a 6.6% rent increase.

Dallas, Texas |Average apartment rent trend

Median Rent Mar 2020 Jul 2020 Dec 2020 Apr 2021 Aug 2021 Oct 2021 Feb 2022 Jun 2022 Oct 2022 Feb 2023
Dallas $1,254 $1,247 $1,249 $1,270 $1,383 $1,423 $1,474 $1,568 $1,598 $1,577
National $1,405 $1,395 $1,399 $1,407 $1,490 $1,585 $1,624 $1,698 $1,715 $1,702
Dallas
National
Mar 2020
$1,254
$1,405
Jul 2020
$1,247
$1,395
Dec 2020
$1,249
$1,399
Apr 2021
$1,270
$1,407
Aug 2021
$1,383
$1,490
Oct 2021
$1,423
$1,585
Feb 2022
$1,474
$1,624
Jun 2022
$1,568
$1,698
Oct 2022
$1,598
$1,715
Feb 2023
$1,577
$1,702
View as table View as graph
Access comprehensive real estate data and information on Yardi ® Matrix

Dallas, Texas| Average apartment rent

Dallas, Texas | Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 43.67%, apartments priced $1,000 - $1,500 represent the bulk of Dallas, Texas rentals, while condos priced Under $500 hold the lowest share of the market – 0.05%.

Dallas, Texas | Housing tenure**

Renter occupied housing units
307,837
Owner occupied housing units
216,661

Renters take up 59% of Dallas, Texas real estate, occupying a total of 307,837 units, while homeowners live in 216,661 properties.

Median number of rooms of renter-occupied housing units**

3.6

Renter median household income**

$45,047

Average household size of renter-occupied housing units**

2.33

Rental vacancy rate**

8.3%

Dallas, Texas | Renter-occupied housing units by no. of bedrooms**

No bedrooms 19,012
1 bed 129,820
2 beds 106,034
3 beds 44,065
4 beds 7,795

There are 129,820 rentals in Dallas, Texas with 1 bed making up the highest share of the market, at 42%. Units with 4 beds, on the other hand, hold the lowest percentage (3%), amounting to 7,795 units. Overall, the median number of rooms in Dallas, Texas homes for rent is 3.6.

Dallas, Texas |Renter-occupied units by age of householder**

15 - 24 years 28,068
25 - 34 years 106,628
35 - 44 years 64,845
45 - 54 years 46,395
55 - 59 years 18,424
60 - 64 years 15,717
65 - 74 years 17,079
75 - 84 years 6,690
85 years and over 3,991

Most condos for rent in Dallas, Texas are occupied by residents in the 25 - 34 years age group (35%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.

Dallas, Texas | Renter-occupied housing units by family type**

Family households
143,002
Non-Family housesholds
164,835

Dallas, Texas | Renter-occupied housing units by the presence of own children**

With related children of the householder under 18
88,060
No related children of the householder under 18
219,777

A total of 143,002 apartments for rent in Dallas, Texas, or 46% of all rentals are family households. Additionally, 29% of rental homes include children under the age of 18 – that’s 88,060 units. All in all, the median size of a renter-occupied household in Dallas, Texas is 2.33.

Dallas, Texas | Renter-occupied housing units by educational attainment**

Less than high school graduate 52,650
High school graduate (including equivalency) 68,260
Some college or associate's degree 83,354
Bachelor's degree or higher 103,573

In terms of education, renters holding bachelor degrees or higher make up 34% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in Dallas, Texas.

Dallas, Texas | Renter-occupied units by year structure built**

Built 2014 or later 20,259
Built 2010 - 2013 14,360
Built 2000 - 2009 33,086
Built 1990 - 1999 42,529
Built 1980 - 1989 60,559
Built 1970 - 1979 59,544
Built 1960 - 1969 31,881
Built 1950 - 1959 23,587
Built 1940 - 1949 10,452
Built 1939 or earlier 11,580

The highest share of Dallas, Texas apartment rentals, namely 20% or 60,559 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (19%, 59,544 units), and the ones Built 1990 - 1999 (14%, 42,529 units).

Dallas, Texas | Renter-occupied units by year householder moved in**

Moved in 2017 or later 35,929
Moved in 2015 to 2016 167,587
Moved in 2010 to 2014 69,721
Moved in 2000 to 2009 26,788
Moved in 1990 to 1999 5,385
Moved in 1989 or earlier 2,427

Median year renter moved into unit2016

Most Dallas, Texas renters (54%) moved in 2015 to 2016, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Dallas, Texas condos for rent is 2016.

Dallas, Texas | Renter-occupied housing units by vehicles available**

No vehicle available 39,483
1 vehicle available 162,016
2 vehicles available 85,285
3 vehicles available 16,085
4 or more vehicles available 4,968

When it comes to transportation options, 53% of Dallas, Texas renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 13% have No vehicle available.

Dallas, Texas | Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 274,092
Car, truck, or van - carpooled 47,260
Public transportation (excluding taxicab) 16,289
Walked 11,457
Taxicab, motorcycle, bicycle, or other means 6,213
Worked at home 23,392

Dallas, Texas |Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 537,158
Moved within same county 104,255
Moved from different county within same state 32,298
Moved from different state 21,532
Moved from abroad 11,403

Dallas, Texas | Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Dallas, Texas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates

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