DALLAS — DFW renters: It could be worse.
But that doesn't mean it's not pricey.
A new study from Construction Coverage said the median rent price for North Texas is $1,903 per month, ranked 22nd among large metros in the country. The most expensive place for renters is in California, which accounted for the top four spots on the list: San Jose ($3,451), San Diego ($3,175), San Francisco ($3,141) and Los Angeles ($2,777).
Austin was the most expensive Texas city on the rankings, coming in at 17th with a median rent price of $2,109.
Houston ranked 37th on the list with a median rent price of $1,507.
While the rankings were sorted by median rent price, they also included prices for studio, one-bedroom, two-bedroom, three-bedroom and four-bedroom rentals.
Here were DFW's prices for each:
- Studio: $1,489
- One-bedroom: $1,585
- Two-bedroom: $1,855
- Three-bedroom: $2,373
- Four bedroom: $3,002
Cleveland was the cheapest large metro on the rankings, with a median rent price of $1,203.
Here was Construction Coverage's takeaway from the data, which was pulled from U.S. Department of Housing and Urban Development and U.S. Census Bureau data.
The dynamics of the rental market in recent years largely reflect simple supply and demand. In the years following the housing crash and Great Recession, the number of new housing construction projects plummeted and were slow to recover over the course of the 2010s. Around the same time, the Millennial generation—America’s largest, with more than 72 million members—began to reach adulthood, introducing greater demand in the market.
This was the top 10, sorted by median rent price:
1. San Jose $3,451
2. San Diego $3,175
3. San Francisco $3,141
4. Los Angeles $2,777
5. Boston: $2,740
6. Seattle: $2,692
7. New York: $2,589
8. Miami: $2,450
9. Riverside, Calif: $2,441
10. Sacramento: $2,415
