Dallas Rent Report: December 2023

Welcome to the Apartment List December 2023 Rent Report for Dallas, TX. Currently, the overall median rent in the city stands at $1,324, after falling 1.3% last month. Prices are now down 1.8% year-over-year. Read on to learn more about what’s been happening in the Dallas rental market and how it compares to trends throughout the broader Dallas metro area and the nation as a whole.

Dallas rents are down 1.3% month-over-month and down 1.8% year-over-year

The median rent in Dallas fell by 1.3% over the course of November, and has now decreased by a total of 1.8% over the past 12 months. Dallas’s rent growth over the past year has is similar to both the state (-2.0%) and national averages (-1.1%).

Dallas rent growth in 2023 pacing below last year

Eleven months into the year, rents in Dallas have fallen 0.3%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to November 2022 rents had increased 6.0%.

November rent growth in Dallas ranked #77 among large U.S. cities

Dallas rents went down 1.3% in the past month, compared to the national rate of -0.9%. Among the nation's 100 largest cities, this ranks #77. Similar monthly rent growth took place in Boston, MA (-1.3%) and San Antonio, TX (-1.3%).

Dallas is the #62 most expensive large city in the U.S., with a median rent of $1,324

Citywide, the median rent currently stands at $1,189 for a 1-bedroom apartment and $1,420 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,324. That ranks #62 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,149 for a 1-bedroom, $1,317 for a 2-bedroom, and $1,340 overall. The median rent in Dallas is 1.2% lower than the national, and is similar to the prices you would find in Portland, OR ($1,333) and Fort Worth, TX ($1,322).

Dallas rents are 8.1% lower than the metro-wide median

If we expand our view to the wider Dallas metro area, the median rent is $1,441 meaning that the median price in Dallas proper ($1,324) is 8.1% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -2.2%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 30 cities in the Dallas metro area that are included in our database. Among them, Flower Mound is currently the most expensive, with a median rent of $2,262. Haltom City is the metro’s most affordable city, with a median rent of $1,253. The metro's fastest annual rent growth is occurring in The Colony (1.6%) while the slowest is in Cedar Hill (-5.3%).

You can also use the map below to explore the latest rent trends in the Dallas metropolitan area.