(WBAP/KLIF) — Rental rates in the DFW area are on the downtrend, at least for now.
The rental market is cooling off after a 23% increase since 2020. According to Chris Salviati with Apartment List, the median price for a one-bedroom rental varies across the metroplex. A typical one-bedroom apartment in Fort Worth goes for the average rental price of $1,158, while Arlington is at $1,112, Dallas $1,231, and in Denton $1,166.
Rental rates in North Texas seem to be leveling off from pandemic highs, which resulted from an inventory shortage and population boom. Salviati says that a nearly one-percent drop in the average price in October is a good sign, considering the monstrous increase during the COVID pandemic.
He doesn’t see a return to those pre-pandemic rates, but three consecutive months of decline is good news for renters. Salviati believes the rental market is should remain consistent in North Texas, for the foreseeable future.
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