bang for your buck
These 3 Fort Worth-area ZIP codes are the most affordable for renters
A recent study by financial services company CashNetUSA has revealed three Fort Worth-area ZIP codes – in Keller, Weatherford, and Roanoke – are the most affordable places in North Texas where renters can get the most bang for their buck.
To find the most affordable ZIP codes to rent in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs using the Zillow Observed Rent Index. ZIP codes where the average annual rental costs required the lowest percentage of median household income were considered the "most affordable."
Keller's 76248 ZIP code specifically stood out as the third most affordable ZIPs for renters across the Metroplex.
According to the study's findings, the average cost of a rental in Keller comes out to $1,867.24 monthly, and the median annual income of a Keller household is a little more than $149,000. Analysts then calculated that the annual rent of a home in 76248 only eats up 15.04 percent of a household's median income, which is the third-lowest in Dallas-Fort Worth.
Right behind Keller in the ranking is Weatherford's sprawling 76085 ZIP, where annual rent costs only represent 17.78 percent of a household's median annual income. The area – which stretches northeast of downtown Weatherford and is bordered by FM 51 to the west, TX-199 on the south, and S. Farm to Market Rd. 730 to the east – has a median household income of $84,339, and average rent costs add up to $1,249.50, according to the study.
Meanwhile, Roanoke's 76262 ZIP code ranked No. 5 in the metro-wide ranking of most affordable ZIPs for renters. This area also includes the North Texas suburbs of Elizabethtown, Westlake, and Trophy Club.
The median annual income for a household in 76262 comes out to $119,517, and the average rental costs $1,789.37 per month. That means annual rent payments account for 17.97 percent of a household's median income, according to the study.
There are seven other ZIPs that make up the top 10 most affordable ZIP codes for renters in Dallas-Fort Worth, including:
- No. 1 – 75013 in Allen
- No. 2 – 75033 in Frisco
- No. 6 – 75078 in Prosper
- No. 7 – 75048 in Sachse
- No. 8 – 75214 in Dallas
- No. 9 – 75077 in Highland Village
- No. 10 – 75093 in Plano
Top ZIP codes for renters in the U.S.
CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.
Elsewhere in Texas, San Antonio's 78248 ZIP ranked as the No. 4 most affordable ZIP code for renters in the U.S., and the No. 1 most affordable ZIP code statewide.
Two Houston-area ZIP codes – 77401 and 77094 – ranked No. 9 and No. 12 nationally, while Allen's 75013 ZIP code fell two spots behind to claim the No. 14 spot.