June 2020 Arlington Rent Report

Welcome to the June 2020 Arlington Rent Report. Arlington rents remained steady over the past month. In this report, we'll evaluate trends in the Arlington rental market, including comparisons to cities throughout the metro, state, and nation.

Arlington rents increased over the past month

Arlington rents have increased 0.1% over the past month, and are up slightly by 1.6% in comparison to the same time last year. Currently, median rents in Arlington stand at $1,020 for a one-bedroom apartment and $1,268 for a two-bedroom. Arlington's year-over-year rent growth leads the state average of 0.6%, as well as the national average of 0.8%.

Rents rising across the Dallas Metro

Throughout the past year, rent increases have been occurring not just in the city of Arlington, but across the entire metro. Of the largest 10 cities that we have data for in the Dallas metro, 9 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

• McKinney has seen the fastest rent growth in the metro, with a year-over-year increase of 1.8%. The median two-bedroom there costs $1,453, while one-bedrooms go for $1,170.
• Over the past month, Irving has seen the biggest rent drop in the metro, with a decline of 0.4%. Median two-bedrooms there cost $1,242, while one-bedrooms go for $999.
• Dallas proper has the least expensive rents in the Dallas metro, with a two-bedroom median of $1,136; rents went down 0.2% over the past month but rose 1.1% over the past year.
• Plano has the most expensive rents of the largest cities in the Dallas metro, with a two-bedroom median of $1,461; rents decreased 0.4% over the past month but were up 1.0% over the past year.

Arlington rents more affordable than many large cities nationwide

As rents have increased slightly in Arlington, large cities nationwide have seen rents grow more quickly. Arlington is still more affordable than most large cities across the country.

• Rents increased slightly in other cities across the state, with Texas as a whole logging rent growth of 0.6% over the past year. For example, rents have grown by 1.3% in Austin and 0.1% in Houston.
• Arlington's median two-bedroom rent of $1,268 is above the national average of $1,194. Nationwide, rents have grown by 0.8% over the past year compared to the 1.6% rise in Arlington.
• While Arlington's rents rose slightly over the past year, some cities nationwide saw decreases, including San Francisco (-1.0%) and Los Angeles (-0.1%).
• Renters will find more reasonable prices in Arlington than most large cities. For example, San Francisco has a median 2BR rent of $3,071, which is nearly two-and-a-half times the price in Arlington.