How much rent can you expect to pay for an apartment in certain Dallas neighborhoods?
Rent.com came up with the numbers and drilled down to specific neighborhoods in a rental-trend market report, including year-over-year changes in how much renters will shell out. Rent.com is an Atlanta-based apartment search engine and online marketplace catering to Millennials.
Overall, three-bedroom apartment rents skyrocketed, increasing 73 percent year-over-year for an average monthly rent of $2,794. Two-bedroom apartments went up 38 percent.
Most affordable
- One-bedroom: Six Dallas neighborhoods are in the sub-$1,000-a-month group for 1BRs. Lakewood tops the list with one-bedrooms going for $752 a month.
- Two-bedroom: South Dallas was the only neighborhood to rent for less than $1,000 for a two-bedroom at $855.
- Three-bedroom: Highland Hills was the only neighborhood in the less-than-$1,200 range.
- Studio: Seven neighborhoods went for less than $1,000 a month for a studio apartment. Cedar Crest studios go for $650.
Most expensive
- One-bedroom: Uptown emerges as the clear-cut leader with an average of $2,325. On another tier is West Dallas ($1,980), Victory Park ($1,959), Central Dallas ($1,926), and the Bishop Arts District ($1,900).
- Two-bedroom: Uptown is another big leader with an average of $3,493, easily ahead of Central Dallas ($3,038).
- Three-bedroom: Preston Hollow is the easy winner at $5,650 a month, ahead of Downtown and Arts District ($4,950).
- Studio: Victory Park has the highest average rent at $2,102, ahead of South Dallas and the Cedars ($1,883).
Annual changes
- One-bedroom: Highland Hills experienced the highest rent year-over-year rent increase at 52 percent. On average, renters in Lakewood paid an average of 49 percent less year-over-year.
- Two-bedroom: The Medical District had the highest annual change in rent at 47 percent. North Dallas was close behind at 46 percent. The biggest drop came in the Knox Henderson neighborhood at 40 percent.
- Three-bedroom: Lake Highlands recorded a 134 percent increase and now charges an average of $3,195 per month. North Oak Cliff was close at 113 percent. East Dallas experienced a 47 percent drop.
- Studio: South Dallas had the biggest year-over-year rental drop at 45 percent. Far North Dallas had an increase of 108 percent.
Report review: This Rent.com rental-market trend report might be a general snapshot based on certain data, but it’s an interesting read. It’s an easy-to-read format without dropdown filters and fancy charts and graphs. FYI: Rent.com is owned by RentPath, which is also owned by Redfin. 🐇 🐇 🐇
