Dallas, known for its cosmopolitan style, significant role in the oil and cotton industries, and pivotal position in the railroad line, has become a hub for modern business, arts, and culture. Over the years, it’s not just the city’s economy that has grown but also its rental market. Let’s take a closer look at the current rental market and average rent in Dallas, giving prospective residents a better idea of what they can expect in this vibrant metropolis.
The rental market in Dallas, Texas, offers an exceptional variety of choices, accommodating a broad range of preferences and budgets. Dallas showcases an impressive array of residential options, from its bustling downtown streets to the quiet suburbs.
Average Rent in Dallas, TX
The range of rental prices in a sprawling metropolis like Dallas is shaped by a myriad of factors.
Each corner of the city is unique, with a distinct history, architecture, amenities, and community vibes. Urban development, the ebb and flow of job markets, and proximity to local essentials such as schools, hospitals, and recreational centers also often play pivotal roles in determining rental averages.
Additionally, the economic dynamics of each neighborhood, coupled with demand and supply curves, greatly influence the numbers. It’s not merely about square footage; it’s the intangible characteristics of a locale and the tangible perks that come with it.
Essentially, price is not just a number, but a reflection of the value offered in this dynamic and diverse city.
What is the average rent in Dallas?
The average rent in Dallas currently stands around $1,890. This figure is an average of properties ranging from studio apartments to larger, three-bedroom residences:
- The average rent for a studio apartment in Dallas (approximately 548 square feet) is $1,368.
- The average rent for a one-bedroom apartment in Dallas (approximately 725 square feet)is $1,471.
- The average rent for a two-bedroom apartment in Dallas (approximately 1,140 square feet) is $2,048.
- The average rent for a three-bedroom apartment in Dallas (approximately 1,325 square feet) is $2,679.
However, it’s essential to remember that the adage “you get what you pay for” is particularly true here. While there are budget-friendly options available, luxury communities like Wan Bridge communities exemplify how a slightly higher rent can translate into upscale amenities and an enhanced living experience.
What is the average apartment/rental home size in Dallas?
Dallas offers a variety of sizes to fit different needs. The average size for a rental in the city stands at 848 square feet. Depending on the type, a studio apartment might be on the more compact side, while 2 or 3-bedroom apartments offer more spacious living conditions.
Of course, single-family homes for rent in Dallas will almost always be larger than typical apartments. And with built-to-rent developers like Wan Bridge raising the industry bar, you can find exceptionally spacious Dallas homes for rent in these upscale communities.
Dallas, TX apartment/home rent ranges
Here’s a breakdown of the Dallas apartment rent by price range:
- $701-1,000/mo.: 11%
- $1,001-1,500/mo.: 44%
- $1,501-2,000/mo.: 27%
- >$2,000/mo.: 18%
Dallas, TX, occupied housing units
With a city as vast and diverse as Dallas, it’s intriguing to note that 59% of the housing units are renter-occupied. This means that 301,691 households in Dallas opt for rentals, while the remaining 41% or 213,447 households are owner-occupied.
This mix showcases Dallas’s flexibility in catering to both long-term residents and those seeking the convenience of rental properties.
Dallas, TX rent trends
Comparatively, Dallas’s rent sits slightly below the national average and has maintained this trend over the past few years. However, with the city’s increasing desirability and the steady influx of new residents, we might see a shift in these numbers in the upcoming years. So, if you’re considering making the move to the Dallas area, there’s never been a better time than now.
Average Rent in Dallas, TX by Neighborhood
Dallas is an iconic Texan metropolis with diverse neighborhoods, each with its unique charm and personality. As we delve deeper into some of these neighborhoods, we’ll uncover the variety they offer in terms of lifestyle, amenities, and rent structures.
Here’s a closer look:
The region’s heart of urban sophistication, Uptown Dallas offers its residents the quintessential city living experience. Uptown is a hub of activity, from chic restaurants and lively bars between Cedar Springs and McKinney Avenue to a myriad of shopping centers catering to every sartorial whim. Art enthusiasts can immerse themselves in the geometric wonders of the Museum of Geometrics or marvel at the intricacies of nature at the Perot Museum. For those seeking tranquility amidst the urban sprawl, Reverchon Park promises serene trails along Turtle Creek.
Average rent in Uptown Dallas:
- Studio: $1,573/mo.
- One-Bedroom: $2,109/mo.
- Two-Bedroom: $3,187/mo.
- Three-Bedroom: $4,568/mo.
Oak Lawn effortlessly blends a laid-back vibe with its hip restaurants and trendy spots. Celebrated for hosting Dallas’s annual Halloween Party and the Pride Parade, this neighborhood promises a cultural smorgasbord. Whether you’re attracted to the high-rises that punctuate the skyline or the townhomes that sprawl with luxury, Oak Lawn caters to all. Nature lovers can indulge in the tranquility of Turtle Creek Parkway Park or the broader expanses of Reverchon Park.
Average rent in Oak Lawn:
- Studio: $1,152/mo.
- One-Bedroom: $1,701/mo.
- Two-Bedroom: $2,528/mo.
- Three-Bedroom: $5,773/mo.
Far North Dallas
Tucked away just to the north of downtown, Far North Dallas offers a serene suburban environment while staying connected to the city’s hustle. The ease of access to major highways like I-35 and I-75 and the diversified housing market make it an ideal spot for families and daily commuters. A slew of restaurants and bars ensure that you always have something to do and see.
Average rent in Far North Dallas:
- Studio: $1,213/mo.
- One-Bedroom: $1,318/mo.
- Two-Bedroom: $1,759/mo.
- Three-Bedroom: $2,280/mo.
A stone’s throw away from downtown, Cedar Crest is a suburban oasis. Taking its name from the renowned Cedar Crest Golf Course, this neighborhood provides easy access to Dallas landmarks, including the Dallas Zoo and Fair Park. If peaceful suburban streets and a welcoming sense of community appeal to you, Cedar Crest might be your next haven.
Average rent in Cedar Crest:
- Studio: $654/mo.
- One-Bedroom: $924/mo.
- Two-Bedroom: $1,060/mo.
- Three-Bedroom: $1,358/mo.
West Dallas is a melting pot of cultural diversity and presents a wide range of housing options. The choices are varied from the sleekness of modern high-rises to the old-world charm of low-rises. Outdoor enthusiasts can explore Tramwell Crow Park, Fish Trap Lake Park, and Irving Golf Club. Moreover, its proximity to the UT Southwestern Medical Center and easy access via Interstate 30 make it a commuter’s dream.
Average rent in West Dallas:
- Studio: $1,368/mo.
- One-Bedroom: $1,471/mo.
- Two-Bedroom: $2,048/mo.
- Three-Bedroom: $2,679/mo.
Lower Greenville is the epicenter of Dallas’s nightlife and culinary scene. Streets buzzing with life, popular eateries, and live music venues mark its identity. From cozy apartments to luxurious residences, the area offers a housing spectrum to cater to varied tastes. And for the culturally inclined, the historic Granada Theatre and the vibrant Truck Yard, with its myriad of food trucks and live performances, paint an authentic Dallas picture.
Average rent in Lower Greenville:
- Studio: $1,417/mo.
- One-Bedroom: $1,789/mo.
- Two-Bedroom: $2,504/mo.
- Three-Bedroom: $4,097/mo.
Nestled to the north of Dallas and Fort Worth, Denton is a town bursting with creativity and cultural dynamism. Often referred to as the “Little Austin,” Denton is famous for its vibrant music scene, historic downtown square, and two major universities. This creates a youthful and energetic atmosphere that can be felt throughout the town. Its eclectic mix of shops, restaurants, and bars keeps locals entertained, while the Denton Arts and Jazz Festival is a must-visit annual event. Renters considering a move to Denton can expect a blend of historic charm and modern convenience.
Average rent in Denton:
- Studio: $1,150/mo.
- One-Bedroom: $1,150/mo.
- Two-Bedroom: $1,550/mo.
- Three-Bedroom: $2,095/mo.
Just a short drive east of Dallas, Forney is a rapidly growing community that seamlessly fuses its historic past with present-day amenities. Often called the “Antique Capital of Texas,” Forney is a treasure trove for antique lovers. The town offers a tight-knit community atmosphere with family-friendly parks, top-notch schools, and community events that bring residents together throughout the year. Forney could be your ideal spot if you’re looking for a balance between suburban calm and proximity to urban attractions.
Average rent in Forney:
- Studio: $1,299/mo.
- One-Bedroom: $1,299/mo.
- Two-Bedroom: $1,767/mo.
- Three-Bedroom: $2,045/mo.
Located south of Dallas, Waxahachie is a blend of rich history and contemporary living. Known for its beautifully preserved historic homes and the annual Scarborough Renaissance Festival, Waxahachie is a town that celebrates its roots. The downtown area boasts a variety of boutiques, antique shops, and dining options that reflect the town’s unique charm. Additionally, its scenic parks and hiking trails make it a haven for nature lovers. When considering Waxahachie as a place to rent, one can expect a combination of southern hospitality and modern amenities.
Average rent in Waxahachie:
- Studio: $1,325/mo.
- One-Bedroom: $1,325/mo.
- Two-Bedroom: $1,550/mo.
- Three-Bedroom: $2,245/mo.
What are the most affordable neighborhoods in Dallas?
Cedar Crest stands out as one of the most affordable neighborhoods in Dallas, with studio apartments averaging at $654/mo. and one-bedroom apartments priced around $924/mo. West Dallas also offers competitive rates, especially for studio and one-bedroom apartments, making these areas attractive for those seeking budget-friendly housing options.
What are the most expensive neighborhoods in Dallas?
Uptown Dallas and Oak Lawn emerge as the more premium neighborhoods in Dallas regarding rent. For instance, a three-bedroom apartment in Uptown Dallas averages around $4,568/mo. the same in Oak Lawn averages an average of $5,773/mo. These areas are known for their upscale amenities, vibrant nightlife, and prime locations, contributing to higher rent prices.
What are the most popular neighborhoods in Dallas?
Popularity can be subjective and often depends on various factors like age demographics, lifestyle preferences, and cultural interests. However, Uptown Dallas, Lower Greenville, and Oak Lawn are consistently mentioned for their bustling atmospheres, the array of amenities, and diverse entertainment options. For those searching for a balance of suburban quiet and access to big-city attractions, areas such as Denton and Forney are a favorite pick.
Other FAQs about the Cost of Moving to Dallas
If you’re thinking about relocating to Dallas, you might have some questions about other associated costs.
What is the average price for a storage unit in Dallas?
A 10’x10′ non-climate-controlled storage unit typically costs around $171.96.
What is the average price for a moving service in Dallas?
This can vary significantly based on the specifics of your move, but on average, Dallas residents might spend between $500-$1,500 for local moves. It’s best to gather quotes from multiple providers.
How Dallas Compares to Other Cities
Dallas offers a balanced rent average when compared to other Texas cities. While Austin and Frisco command higher rents of $1,806 and $1,886, respectively, cities like Houston and San Antonio sit below Dallas’s average at $1,342 and $1,304.
This might be surprising to those who think of Dallas as the sophisticated cultural center of Texas – it’s not uncommon for many people to assume that Dallas rent costs are the highest in the state. However, because of the area’s outstanding variety of housing options, there truly is something for everyone.
Find Luxury Homes for Rent in Dallas
Dallas’s rental market showcases a spectrum of options, from budget-friendly to luxurious. And as the city continues to grow and evolve, so too will the opportunities for those seeking their perfect rental home. Remember, sometimes the value of a home goes beyond its monthly rent; it’s the quality of life it offers.
For those who want their monthly rent to translate into the highest possible quality of life, communities like Sonata Estates, Residences at Rayzor Ranch, and Brooklyn Village by Wan Bridge offer more than just a rental house. Our homes are thoughtfully designed to provide flexibility for families, young professionals, and retirees alike, with open floor plans, upgraded finishes, and designer-inspired touches. These communities also offer upscale amenities, including full property management, community parks, and dog parks, underscoring the idea that, in this case, it’s worth paying a premium for a luxurious lifestyle.
Discover the new standard of excellence in the Dallas rental market when you explore Wan Bridge’s signature built-to-rent communities. For more information about what sets us apart, as well as currently available properties, contact us today.
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