Frisco’s 75034 ZIP code hugs the Dallas North Tollway, which serves as an artery for traffic to access some of the city’s biggest attractions. In this area you can find The Star, Riders Field (formerly Dr Pepper Ballpark), Stonebriar Country Club, and more. So it’s no wonder that this popular Frisco ZIP code has become a hotbed of apartment development.
According to a recent report from RentCafe, Frisco’s 75034 ZIP code added 5,872 apartments between 2017 and 2022, resulting in a 69.1 increase in new apartments constructed. That was enough to earn the No. 5 spot in the website’s ranking of the top 50 ZIP codes for new apartment construction. In fact, the report noted that the Dallas metro had eight ZIP codes in the top 50. Compare that to Northeast Houston’s 77007, which came in at No. 11 with 5,014 apartments added to the Memorial Park area.
Apartments Everywhere?
The proliferation of new apartment developments has been hard to ignore not only in hotbeds like Frisco’s 75034, but throughout the United States. According to the report, approximately 1.2 million new apartments have been constructed in America’s metro areas since 2018.
What does the proliferation of rentals have to do with actual renters? It’s basic supply and demand. As new apartment communities come online, there’s less competition for units and therefore more potential deals.
According to Rent.com, prices for units in the North Texas metro area are starting to decrease. For example, the price for a one-bedroom unit in Dallas has decreased by 10 percent over the previous year. It’s worth noting that’s for Dallas as a whole. Some areas with newer inventory may actually see some price increases with new units added to the area.
