It makes sense. Denton is the second-ranked Texas city of choice and 12th-ranked nationally by the percentage of Generation Zoomer renters, according to a RENTCafé analysis.
Denton is home to the University of North Texas and Texas Woman’s University. The city is the very definition of a college town with a dynamic music, arts, and food scene and proximity to outdoor activities for weekend adventures. Niche, which ranks communities based on schools and places to live, gave Denton A grades for nightlife and diversity.
Gen Z renters are applicants born after 1997, the oldest of which turned 23 in 2020. Other generations displayed decreasing numbers, but the analysis of over 3 million RentGrow applications revealed a 36-percent nationwide jump.
The RENTCafé study analyzed rental application data from January-November 2020 and January-November 2019.
Of Denton’s renters, 42 percent belonged to Gen Z. Abilene, which has three four-year universities, had the best percentage in Texas with a 43 percent share. As a state, Texas’ Gen Z share was 21 percent.
Of Millennial renters, Denton had a 35 percent share, 15 percent with Gen Xers, and 8 percent Baby Boomers.
Nationally, Boulder, Colo., home of the University of Colorado, was the top city for Gen Z renters. The city is a haven for Gen Z with a 65 percent renter share and a nation-low 22 percent of Millennials and single-digit percentages of Gen Xers (8 percent) and Boomers (5 percent).
The study reflected a trend shift with Gen Z renters. The share of Zoomer applicants jumped 11 percent between 2019 and 2020. Analysts attributed the change to the COVID-19 pandemic, a tighter intergenerational and geographic connection to their hometowns, and more affordable smaller markets.
Denton’s affordability is reflected in Zumper’s monthly Dallas Metro Rent Report. A one-bedroom rents for $870 a month, less than the $967 Texas median rate and significantly less than Frisco, where 1BRs go for $1,310.
If these Zoomers stick around, they’ll live in a city that’s ranked the 41st-best city in America to buy a house, according to Niche.
Denton City Leaders Hear Rental Study
Still, Denton’s rental situation could be better, according to a study presented to Denton City Council members in February. Over the next five years, nearly 9,500 rental and other housing units must be built to keep pace with Denton’s growth.
Of the 54,438 properties in the occupied housing inventory in Denton, 27,907 are rental units, or 52 percent.
“The City of Denton’s housing market has been characterized by increasing demand and robust development activity in recent years, driven by access to jobs, locational amenities like restaurant and retail, and university students seeking off-campus housing,” according to the report by Reinvestment Fund and Atria Planning, the Denton Record-Chronicle reported.
