Grand Prairie, Texas Rental Market Trends
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 Grand Prairie, Texas rental market.
Grand Prairie, Texas
Average Apartment Rent
$1,499
Y-o-Y Change in Average
Apartment Rent
-0.8%
As of July 2024
Compared to a year ago, Grand Prairie, Texas apartments have recorded a -0.8% rent decrease.
Grand Prairie, Texas Average apartment rent trend
Grand Prairie, Texas Average Apartment Rent
Grand Prairie, Texas Apartment rent ranges
At 50.71%, apartments priced $1,000 - $1,500 represent the bulk of Grand Prairie, Texas rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.08%.
Grand Prairie, Texas Housing tenure**
Renters take up 41% of Grand Prairie, Texas real estate, occupying a total of 26,849 units, while homeowners live in 38,891 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$52,419
Average household size of renter-occupied housing units**
2.58
Rental vacancy rate**
5.5%
Grand Prairie, Texas Renter-occupied housing units by no. of bedrooms**
There are 10,264 rentals in Grand Prairie, Texas with 2 beds making up the highest share of the market, at 38%. Units with No bedrooms, on the other hand, hold the lowest percentage (7%), amounting to 1,746 units. Overall, the median number of rooms in Grand Prairie, Texas homes for rent is 4.
Grand Prairie, Texas Renter-occupied units by age of householder**
Most condos for rent in Grand Prairie, Texas are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Grand Prairie, Texas Renter-occupied housing units by family type**
Grand Prairie, Texas Renter-occupied housing units by the presence of own children**
A total of 15,581 apartments for rent in Grand Prairie, Texas, or 58% of all rentals are family households. Additionally, 37% of rental homes include children under the age of 18 – that’s 9,920 units. All in all, the median size of a renter-occupied household in Grand Prairie, Texas is 2.58.
Grand Prairie, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 15% of the homes for rent in Grand Prairie, Texas.
Grand Prairie, Texas Renter-occupied units by year structure built**
The highest share of Grand Prairie, Texas apartment rentals, namely 25% or 6,652 units, were Built 1980 - 1989, followed by those Built 2010 - 2019 (16%, 4,421 units), and the ones Built 1990 - 1999 (14%, 3,786 units).
Grand Prairie, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Grand Prairie, Texas renters (43%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Grand Prairie, Texas condos for rent is 2018.
Grand Prairie, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Grand Prairie, Texas renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 10% have 3 vehicles available.
Grand Prairie, Texas Means of transportation to work of householders living in renter-occupied housing units**
Grand Prairie, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
Grand Prairie, 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 Grand Prairie, 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, 2022 American Community Survey 5-Year Estimates
