Dallas Rent Report: Where in Dallas Can Renters Get the Most (and Least) Space for Their Money
With companies delaying their return-to-office plans amid the ongoing pandemic, many remote employees are feeling crunched for space in their apartments-turned-home-offices. In this report, we highlight the Dallas neighborhoods where renters are most likely to get more space for their rental dollars, as well as the cost to upgrade to a larger place.
Dallas Rent Prices: Monthly Cost Per Square Foot by Neighborhood
We analyzed prices and square footage of available 1-bedroom apartments in Dallas and found that space-wise, renters get the most bang for their buck in the Bishop Arts District. In fact, the cost per square foot ($1.25/PSF monthly) in Bishop Arts is half that of Uptown Dallas, Victory Park and Knox/Henderson, where 1-bedroom apartments are each over $2.50/PSF monthly. Costs for space in the Lake Highlands neighborhood are also comparatively low at $1.34/PSF monthly.
Below are the median rents, areas, and costs per square foot statistics for 1-bedroom apartments in each neighborhood analyzed for this study.
Neighborhood | Median Monthly Rent 1-bed | Median Area in Sq. Ft. 1-bed | Monthly Cost per Sq. Ft. 1-bed |
---|---|---|---|
Bishop Arts District | $914 | 698 | $1.25 |
Lake Highlands | $890 | 688 | $1.34 |
North Dallas | $1,108 | 700 | $1.56 |
Oak Cliff | $1,120 | 700 | $1.70 |
The Cedars | $1,337 | 762 | $1.72 |
Old East Dallas | $1,248 | 684 | $1.85 |
Downtown Dallas | $1,516 | 790 | $1.93 |
Design District | $1,442 | 760 | $1.94 |
Oak Lawn | $1,492 | 739 | $1.98 |
Cityplace | $1,566 | 759 | $1.99 |
Lakewood | $1,408 | 645 | $2.05 |
Deep Ellum | $1,740 | 759 | $2.45 |
Knox/Henderson | $1,735 | 727 | $2.51 |
Victory Park | $1,848 | 782 | $2.52 |
Uptown Dallas | $1,942 | 764 | $2.57 |
*The rents and costs per square foot data listed above are based on the medians. Actual rents and cost per square foot for individual units will vary. Only neighborhoods with a minimum of 35 available 1-bedroom units were analyzed.
Dallas Rental Apartments: Cost to Upgrade from a 1-bedroom to a 2-bedroom
For many renters now working remotely from their apartments, it’s not just more square footage they want, but also more separation of their work and life spaces. On average, upgrading from a 1-bedroom to a 2-bedroom unit in Dallas will add roughly 40% to the rent, but relative upsizing costs vary depending on neighborhood. Oak Cliff and Lake Highlands appear to have the best opportunities to upsize from a one-bedroom to a two-bedroom with the least impact on total monthly rent costs.
Neighborhood | Median Monthly Rent 1 -Bed | Median Monthly Rent 2-bed | Cost Difference 1-bed to 2-bed | Cost Difference as a % |
---|---|---|---|---|
Oak Cliff | $1,120 | $1,295 | $175 | 16% |
Lake Highlands | $890 | $1,200 | $310 | 35% |
Downtown Dallas | $1,516 | $2,083 | $567 | 37% |
North Dallas | $1,108 | $1,530 | $423 | 38% |
Design District | $1,442 | $1,994 | $552 | 38% |
The Cedars | $1,337 | $1,882 | $545 | 41% |
Victory Park | $1,848 | $2,647 | $799 | 43% |
Cityplace | $1,566 | $2,250 | $685 | 44% |
Knox/Henderson | $1,735 | $2,510 | $775 | 45% |
Uptown Dallas | $1,942 | $2,971 | $1,029 | 53% |
Oak Lawn | $1,492 | $2,359 | $868 | 58% |
Old East Dallas | $1,248 | $2,004 | $756 | 61% |
Deep Ellum | $1,740 | $2,832 | $1,092 | 63% |
*Bishop Arts District and Lakewood were not included in this comparison due to insufficient quantity of available 2-bedroom units at the time of the analysis. The rents and costs per square foot data listed above are based on the medians. Actual rents and cost per square foot for individual units will vary.
The overall median rent cost per square foot for a 1-bedroom apartment in Dallas is $1.81/PSF monthly, and median 1-bedroom rent runs $1,350/per month. By comparison, this is less than Austin, TX ($1.99/PSF monthly and $1,410/per month) but more than Houston, TX ($1.60/PSF monthly and $1,277/per month).
Methodology
For this study, we analyzed one-bedroom listings available on its platform during the last month in the Dallas neighborhoods most searched by renters. Analysts did not include neighborhoods with less than 35 available 1-bedroom units at the time of the analysis. Rent prices and cost per square footage calculations were based on median rents. Listings on ApartmentAdvisor come from a range of small and large property owners and include luxury and non-luxury units. Amenities, age and quality of unit, and location specifics, among other features, all factor into rent prices. For simplicity, this analysis focused strictly on the overall cost per square foot based on asking rent prices.
Press Contact: Amy Mueller pr@apartmentadvisor.com
Top metro areas
Atlanta Apartments
741 apartments starting at $550/month
Austin Apartments
933 apartments starting at $625/month
Baltimore Apartments
592 apartments starting at $450/month
Birmingham Apartments
209 apartments starting at $550/month
Boston Apartments
3,322 apartments starting at $700/month
Buffalo Apartments
108 apartments starting at $750/month
Charlotte Apartments
674 apartments starting at $605/month
Chicago Apartments
3,710 apartments starting at $400/month
Cincinnati Apartments
322 apartments starting at $600/month
Cleveland Apartments
440 apartments starting at $499/month
Columbus Apartments
867 apartments starting at $500/month
Dallas Apartments
1,189 apartments starting at $600/month
Denver Apartments
635 apartments starting at $500/month
Detroit Apartments
477 apartments starting at $525/month
Grand Rapids Apartments
226 apartments starting at $560/month
Hartford Apartments
72 apartments starting at $795/month
Houston Apartments
598 apartments starting at $649/month
Indianapolis Apartments
528 apartments starting at $400/month
Jacksonville Apartments
917 apartments starting at $448/month
Kansas City Apartments
499 apartments starting at $500/month
Las Vegas Apartments
798 apartments starting at $600/month
Los Angeles Apartments
3,429 apartments starting at $600/month
Louisville Apartments
292 apartments starting at $594/month
Memphis Apartments
702 apartments starting at $475/month
Miami Apartments
597 apartments starting at $1,300/month
Milwaukee Apartments
507 apartments starting at $465/month
Minneapolis Apartments
666 apartments starting at $625/month
Nashville Apartments
346 apartments starting at $875/month
New Orleans Apartments
437 apartments starting at $595/month
New York City Apartments
1,811 apartments starting at $850/month
Oklahoma City Apartments
557 apartments starting at $549/month
Orlando Apartments
400 apartments starting at $650/month
Philadelphia Apartments
1,671 apartments starting at $400/month
Phoenix Apartments
1,054 apartments starting at $600/month
Pittsburgh Apartments
733 apartments starting at $600/month
Portland Apartments
853 apartments starting at $415/month
Providence Apartments
149 apartments starting at $799/month
Raleigh Apartments
400 apartments starting at $600/month
Richmond Apartments
451 apartments starting at $650/month
Riverside Apartments
106 apartments starting at $590/month
Sacramento Apartments
344 apartments starting at $811/month
Salt Lake City Apartments
178 apartments starting at $550/month
San Antonio Apartments
724 apartments starting at $410/month
San Diego Apartments
936 apartments starting at $795/month
San Francisco Apartments
757 apartments starting at $775/month
San Jose Apartments
208 apartments starting at $1,000/month
Seattle Apartments
898 apartments starting at $600/month
St. Louis Apartments
371 apartments starting at $525/month
Tampa Apartments
389 apartments starting at $800/month
Virginia Beach Apartments
208 apartments starting at $595/month
Washington DC Apartments
522 apartments starting at $828/month