August 2019 Keller Rent Report

Welcome to the August 2019 Keller Rent Report. Keller rents increased over the past month. In this report, we'll evaluate trends in the Keller rental market, including comparisons to cities throughout the metro, state, and nation.

Keller rents increase sharply over the past month

Keller rents have increased 1.3% over the past month, and have increased moderately by 3.2% in comparison to the same time last year. Currently, median rents in Keller stand at $1,395 for a one-bedroom apartment and $1,733 for a two-bedroom. Keller's year-over-year rent growth leads the state and national averages, which both stand at 1.6%.

Rents rising across the Dallas Metro

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

• Arlington has seen the fastest rent growth in the metro, with a year-over-year increase of 2.9%. The median two-bedroom there costs $1,257, while one-bedrooms go for $1,011.
• Over the past month, Mesquite has seen the biggest rent drop in the metro, with a decline of 0.3%. Median two-bedrooms there cost $1,361, while one-bedrooms go for $1,096.
• Dallas proper has the least expensive rents in the Dallas metro, with a two-bedroom median of $1,134; rents were up 0.3% over the past month and 2.1% 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 increased 0.4% over the past month and 2.0% over the past year.

Many large cities nationwide show more affordable rents compared to Keller

As rents have increased moderately in Keller, a few large cities nationwide have also seen rents grow modestly. Compared to most large cities across the country, Keller is less affordable for renters.

• Rents increased slightly in other cities across the state, with Texas as a whole logging rent growth of 1.6% over the past year. For example, rents have grown by 3.3% in Austin, 2.5% in San Antonio, and 0.6% in Houston.
• Keller's median two-bedroom rent of $1,733 is above the national average of $1,191. Nationwide, rents have grown by 1.6% over the past year compared to the 3.2% increase in Keller.
• While Keller's rents rose moderately over the past year, many cities nationwide also saw increases, including Phoenix (+3.7%), Nashville (+2.6%), and New York (+1.8%).
• Renters will generally find more expensive prices in Keller than most large cities. For example, Houston has a median 2BR rent of $1,034, where Keller is more than one-and-a-half times that price.