A recent report from real estate survey factory Zumper shows that rents in the Dallas-Fort Worth area are still some of the priciest in the state — meaning that what you pay for a Richardson apartment has gone up in a big way.
In Texas, the median rent for a one-bedroom apartment is $1,176. Compare that to the median rent for a one-bedroom unit in both Frisco and Richardson: $1,630. According to Zumper, Irving and Dallas are neck and neck for the second-place spot as the most expensive city in North Texas posting $1,480 and $1,470 for their median one-bedroom rents, respectively.
What could be causing rents in Richardson and Frisco to be so sky-high? It could have something to do with all the people moving to the suburban Dallas enclaves.
Richardson is Growing Just as Fast as Rents
A new report from U-Haul says that Richardson ranks 15th for growth in the company’s 2022 Growth Index report. The data, gleaned from U-Haul’s rental records, shows that while 6 percent fewer people were arriving in Richardson in U-Haul one-way trucks, 7 percent fewer people left Richardson with their belongings stowed in boxes. In all, Texas was the top destination for U-Haul users moving to a new state.
“I see a lot of growth in Richardson,” said Zane Rowland, the U-Haul Company of Northeast Dallas president. “They’re always building new apartments and affordable living. People are coming from all over the U.S. and settling here. Richardson is one of the more affordable cities in the Dallas area. The schools and roads are nice. It offers a fairly easy commute to any job in Plano, Dallas, or Frisco. Richardson offers a perfect balance between urban and suburban.”
Dallas Rents Dip Year-Over-Year
On the upside, if you’re looking for a more affordable place that is not a Richardson apartment, Dallas is your best bet. Thanks to the skyrocketing inventory of new apartments, numbers from Zumper show that the median one-bedroom rent for Dallas actually fell by 1.4 percent.
