130 Apartments under 1200 for rent in The Colony, TX

Last updated September 26 at 3:18PM
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Rent Report
The Colony

September 2017 The Colony Rent Report

Welcome to the September 2017 The Colony Rent Report. The Colony rents remained steady over the past month. In this report, we'll evaluate trends in the The Colony rental market, including comparisons to cities throughout the metro, state, and nation.

The Colony rent trends were flat over the past month

The Colony rents have remained flat over the past month, however, they have increased sharply by 7.1% year-over-year. Currently, median rents in The Colony stand at $1,170 for a one-bedroom apartment and $1,450 for a two-bedroom. The Colony's year-over-year rent growth leads the state average of 1.5%, as well as the national average of 3.0%.

Rents rising across the Dallas Metro

Throughout the past year, rent increases have been occurring not just in the city of The Colony, 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 9.0%. The median two-bedroom there costs $1,200, while one-bedrooms go for $960.
  • Over the past month, Garland has seen the biggest rent drop in the metro, with a decline of 0.6%. Median two-bedrooms there cost $1,210, while one-bedrooms go for $970.
  • McKinney has the most expensive rents of the largest cities in the Dallas metro, with a two-bedroom median of $1,450; rents were up 4.7% over the past year but remained flat month-over-month.
  • Dallas proper has the least expensive rents in the Dallas metro, with a two-bedroom median of $1,110; rents were up 0.2% over the past month and 2.8% over the past year.

Many large cities nationwide show more affordable rents compared to The Colony

As rents have increased in The Colony, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Compared to most large cities across the country, The Colony is less affordable for renters.

  • Rents also increased in other cities across the state, with Texas as a whole logging rent growth of 1.5% over the past year. For example, rents have grown by 2.8% in San Antonio and 2.0% in Austin.
  • The Colony's median two-bedroom rent of $1,450 is above the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 7.1% increase in The Colony.
  • While The Colony's rents rose over the past year, some cities nationwide saw decreases, including Houston (-2.4%) and DC (-0.5%).
  • Renters will generally find more expensive prices in The Colony than most large cities. For example, Houston has a median 2BR rent of $990, where The Colony is nearly one-and-a-half times that price.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Dallas $890 $1,110 0.2% 2.8%
Fort Worth $910 $1,140 0.5% 5.6%
Arlington $960 $1,200 0.3% 9.0%
Plano $1,150 $1,420 0.3% 1.9%
Garland $970 $1,210 -0.6% 3.5%
Irving $960 $1,190 0.1% 5.2%
Grand Prairie $1,000 $1,240 0.1% 8.2%
Mesquite $1,030 $1,280 -0.4% 5.7%
McKinney $1,160 $1,450 -0.1% 4.7%
Carrollton $1,070 $1,330 0.3% 5.2%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start 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, comparing only units that are available across both time periods 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. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.