Plano, TX Rental Market Trends

Plano Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Plano, TX. Currently, the overall median rent in the city stands at $1,727, roughly the same as last month. Prices remain down 3.3% year-over-year. Read on to learn more about what’s been happening in the Plano rental market and how it compares to trends throughout the broader Dallas metro area and the nation as a whole.

Plano rents are flat month-over-month and down 3.3% year-over-year

The median rent in Plano rose by 0.0% over the course of March, and has now decreased by a total of 3.3% over the past 12 months. Plano’s rent growth over the past year has is similar to the state average (-2.5%) but has fallen below the national average (-0.8%).

Plano rent growth in 2024 pacing similar last year

Three months into the year, rents in Plano have fallen 0.2%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 0.1%.

March rent growth in Plano ranked #83 among large U.S. cities

Plano rents went up 0.0% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #83. Similar monthly rent growth took place in Anaheim, CA (0.0%) and Winston-Salem, NC (0.0%).

Plano is the #26 most expensive large city in the U.S., with a median rent of $1,727

Citywide, the median rent currently stands at $1,429 for a 1-bedroom apartment and $1,808 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,727. That ranks #26 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in Plano is 24.4% higher than the national, and is similar to the prices you would find in Denver, CO ($1,756) and Aurora, CO ($1,723).

Plano rents are 17.1% higher than the metro-wide median

If we expand our view to the wider Dallas metro area, the median rent is $1,475 meaning that the median price in Plano ($1,727) is 17.1% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -2.3%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 29 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 $2,021. Haltom City is the metro’s most affordable city, with a median rent of $1,268. The metro's fastest annual rent growth is occurring in Hurst (3.4%) while the slowest is in Frisco (-4.9%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Addison
$1,536
$1,917
0.2%
-0.9%
Allen
$1,427
$1,813
-0.1%
-2.0%
Arlington
$1,163
$1,370
1.0%
-0.1%
Bedford
$1,195
$1,544
0.1%
-4.3%
Carrollton
$1,323
$1,660
0.9%
-2.8%
Coppell
$1,356
$1,810
1.9%
0.9%
Dallas
$1,235
$1,462
0.4%
-2.1%
Denton
$1,113
$1,390
0.1%
0.6%
Euless
$1,292
$1,763
0.3%
0.6%
Farmers Branch
$1,661
$1,975
0.9%
0.1%
Flower Mound
$1,656
$1,923
1.1%
-1.9%
Forney
$1,419
$1,853
-0.1%
-1.4%
Fort Worth
$1,176
$1,357
0.3%
-3.0%
Frisco
$1,486
$1,940
0.4%
-4.9%
Garland
$1,118
$1,366
0.1%
-2.4%
Grand Prairie
$1,208
$1,452
0.5%
-3.3%
Grapevine
$1,583
$1,928
-0.4%
-0.7%
Haltom City
$1,130
$1,320
0.5%
0.0%
Hurst
$1,274
$1,482
-0.2%
3.4%
Irving
$1,265
$1,558
0.6%
-3.8%
Lewisville
$1,306
$1,644
-0.3%
-2.5%
Mansfield
$1,474
$1,725
-0.4%
-3.7%
McKinney
$1,264
$1,582
0.8%
-2.7%
Mesquite
$1,116
$1,327
0.4%
-1.7%
North Richland Hills
$1,213
$1,604
0.6%
-0.5%
Plano
$1,429
$1,808
0.0%
-3.3%
Richardson
$1,430
$1,828
0.1%
-2.0%
The Colony
$1,425
$1,731
-0.4%
-3.8%
Waxahachie
$1,469
$1,442
-0.1%
0.7%
See More

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

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

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