This is how big an apartment renters get for $1,500 in Fort Worth

NO SPACE TO WASTE

Photo by Jarek Ceborski on Unsplash

We all know what renters dream about when they’re not thinking about the logistics of owning a home: low rent prices with the perfect amount of space. In cities across Dallas-Fort Worth, that’s getting harder and harder to come by.

For renters who have a budget of $1,500 a month, the average apartment size they can get in Fort Worth spans about 909 square feet. The good news: That's almost 100 square feet more than they get in Dallas (805).

That’s according to a new study by apartment rental marketplace RentCafe.

In Arlington, renters get even more bang for their buck, at 928 square feet for the same budget.

Residents of the Dallas suburb of Mesquite, by far, get the most space in DFW, at 999 square feet for $1,500. Those in neighboring Garland come close, with 937 square feet.

The DFW cities that offer the smallest space for the price are Plano and Frisco. Plano renters have to make do with an average apartment size of 766 square feet, while Frisco renters get even less space, at 740 square feet. That’s more than 200 square feet less than an apartment in Mesquite.

RentCafe’s study looked at data from their sister site, Yardi Matrix, to determine the average size and price per square foot for a $1,500 monthly budget in 200 of the largest American cities.

Here’s how much space you can rent for $1,500 in other Dallas-Fort Worth-area cities:

Grand Prairie – 873 square feet
Denton – 868 square feet
Irving – 848 square feet
McKinney – 809 square feet

Elsewhere in Texas, apartments in the Rio Grande Valley have the best price per square foot in the state. McAllen residents get the most space out of any other Texas city with an average apartment size of 1,471 square feet. Renters in Brownsville, which is 60 miles east on the border, can get a similarly sized apartment that’s 1,307 square feet for the same $1,500 a month budget.

Much like Mesquite, Houston residents can find apartments that are just under 1,000 square feet for the same budget. But that doesn’t go nearly as far in Austin, where renters can find apartments that are an average of 714 square feet.

The full report can be found on rentcafe.com.

BrunchNews.com

Apartment rents finally start to decline in Fort Worth and across the U.S.

Rent News

In good news for renters, rates finally appear to be dropping in Dallas-Fort Worth and across the U.S. — and it's a trend predicted to prevail through the end of 2022.

After more than a year of record-setting rent hikes, rent prices decreased in October for the second month in a row. According to a report by Apartment List, rent across the U.S. went down by 0.7 percent in October — the largest single-month dip since 2017.

Rents went down in 89 of the nation’s 100 largest cities for the second straight month, following a peak in August, and a welcome reversal to major rent increases that have occurred since the pandemic.

Here are current rates among 10 of the largest cities in the U.S.:

San Francisco – $2,640
Los Angeles – $2,200
New York City – $2,170
Seattle – $1,990
Austin – $1,830
Washington, D.C. – $1,790
Dallas – $1,470
Phoenix – $1,470
San Antonio – $1,320
Houston – $1,290

The current national average rent for a two-bedroom apartment is $1,348.

The October decline offsets what has been a major increase in the past year: In 2022, rents are already up by a total of 5.9 percent, compared to 18 percent at this point in 2021.

In the past year, Texas averaged a 6.6 percent increase in rental rates as compared to a year ago. Breaking that down among Texas cities, Dallas tops the list, with Fort Worth in second place:

Dallas: 10.1 percent increase
Fort Worth: 7.5 percent
San Antonio: 5.8 percent
Austin: 5.3 percent
Houston: 4 percent

While the October downtick is something to celebrate, they warn that it's consistent with a seasonal trend existed even prior to the pandemic craziness. Still, they anticipate that rents will continue to decline in the coming months.

Fort Worth
Rent in Fort Worth declined by 0.8 percent over the past month — helping to offset its 7.5 percent increase in comparison to the same time last year, which not only exceeded Texas' overall average but also the national average of 5.7 percent. Current median rent in Fort Worth is $1,335 for a two-bedroom, and $1,159 for a one-bedroom. Fort Worth is still more affordable than most large cities across the U.S.

Dallas
In October, rent in Dallas declined by 0.9 percent — helping to soften its 10.1 percent increase in the past year and its unprecedented 24 percent rise since March 2020.

The current median rent in Dallas is $1,232 for a one-bedroom apartment and $1,472 for a two-bedroom.

In the DFW area:

Mesquite saw the highest increase — up 18.3 percent from a year ago, with $1,498 for a two-bedroom
Plano has the highest rent in the DFW area: $1,996 for a two-bedroom
Fort Worth has the least expensive rent: $1,335 for a two-bedroom

Houston
Rents in Houston are the most affordable among big Texas cities and even among comparable cities nationwide. Houston's median two-bedroom rent of $1,288 is below the national average of $1,348, following a 0.3 percent decline in October.

In the Houston area:

Galveston had the fastest growth in the metro with an increase of 10.9 percent. A two-bedroom now goes for $1,175.
Baytown has the least expensive rent in the Houston area, with rent for a two-bedroom at $1,124.
Sugar Land has the most expensive rent at $1,984 for a two-bedroom.

Austin
Austin's rent declined by 1.5 percent over the past month, with median rent coming in at $1,826 for a two-bedroom and $1,500 for a one-bedroom.

In the Austin area:

Leander saw the biggest decline with 1.8 percent. It has the least expensive rent in the Austin metro, with a two-bedroom median rate of $1,414.
Round Rock endured the biggest increase: 8.7 percent higher than a year ago, with a two-bedroom currently at $1,788.
Cedar Park has the most expensive rent, at $1,903 for a two-bedroom. Rent climbed 2.6 percent over the past year.

Compared to other large cities across the country, Austin comes in as "less affordable" for renters. Duh.

San Antonio
San Antonio rent declined by 0.9 percent over the past month, offsetting a significant increase of 5.8 percent over last year — the third largest increase in Texas behind Dallas.

Current rental rates in San Antonio are $1,317 for a two-bedroom, just below the national average ($1,348), and $1,066 for a one-bedroom — making San Antonio still more affordable than most large cities across the U.S.

Photo by Westend 61/Getty

Apartment rents surge at double-digit pace across Dallas-Fort Worth, new report says

Rent check

As summer vacations end and college semesters start, August is always a busy month for renters moving into apartments. This month, those unlocking doors to new digs across Dallas-Fort Worth are being greeted by some especially unwelcome sticker shock.

According to Zumper's new Dallas-Fort Worth rent report, the price of one-bedroom units across the metro area has surged at a double-digit pace in most cities, year over year. The August 1 report covers 14 cities in Dallas-Fort Worth and highlights the most and least expensive cities, as well as cities with the fastest growing rents.

"The Dallas-Fort Worth metro area is seeing large spikes in rent prices overall with nearly all cities in the report experiencing double-digit year-over-year growth rates," says Zumper analyst Crystal Chen. "Migration to this metro area — with the modest tax rates, relatively low cost of living, and vibrant culture — shows no sign of slowing down, especially since we’re in the summer, which is generally the hot moving season."

According to Zumper, rent climbed fastest from August 2021 to August 2022 in these cities:

Grand Prairie, up 26.4 percent since this time last year, to $1,390.
Irving saw rent climb 25.4 percent, to $1,480.
Denton, up 23.9 percent, to $1,140.
Frisco, up 21.9 percent, to $1,670.
Carrollton and Lewisville (tied), both up 20.2 percent ( to $1,370 and $1,430, respectively).
McKinney saw rent climb 18.5 percent, to $1,470.
Plano, with rent increasing 17.6 percent, to $1,540.

Month-over-month, the fastest-growing rent rates were as follows:

Frisco had the largest monthly rental growth rate, up 5 percent.
Denton was second with rent jumping 4.6 percent.
Lewisville was third with rent increasing 3.6 percent last month.

Most and least affordable cities
While the one-bedroom median rent was $1,139 in Texas last month, only one DFW city was below that: Arlington, at $1,080. Two cities came close: Denton and Garland, both at $1,140. Weatherford ranked as the third most affordable city, with rent at $1,160.

Fort Worth also falls on the lower end of the scale, with one-bedroom rent at $1,230. Remarkably, rent is actually down 3.1 percent from last month, but still up 12.6 percent overall, year-over-year.

The prices go up from there — especially in the northern Dallas suburbs.

The most expensive DFW city for renters is Frisco, with one bedrooms priced at $1,670. Richardson came in second, with rent at $1,610. Plano ranked third, with rent at $1,540.

So, how do apartments inside the Dallas city limits compare to those in Fort Worth? According to Zumper, Dallas proper ranked as the sixth most expensive rental market (out of 14). The price of one bedroom units increased 0.7 percent in the last month to $1,460. Overall, rent is up 11.5 percent from last year.

"In addition to DFW, rising rents can also be seen in most major hubs within the U.S. right now, too," Chen says. "With interest rates up, many people are opting out of the buying process and staying in the rental market longer, creating even more demand and competition for rentals. The U.S. is also still in a housing crisis and construction of new buildings isn’t happening quickly enough to meet demand. All of these factors together are creating the surge in rent prices."

Getty Images

Fort Worth among least affordable U.S. cities for minimum-wage renters, report says

Priced out

If you’re a minimum-wage worker who’s hunting for an apartment in Fort Worth, you might be out of luck in terms of affordable options.

Fort Worth, along with three other North Texas cities — Plano, Irving, and Dallas — made a new GOBankingRates list of the 15 least affordable U.S. cities for minimum-wage renters.

The U.S. and Texas minimum wages are $7.25 an hour. In these four cities, someone earning minimum wage would need to work at least 154 hours to pay the monthly rent for the typical one-bedroom apartment, according to GOBankingRates.

Austin is the only other Texas city on the list of the least affordable places for minimum-wage renters.

Plano ranked third for the number of work hours needed to afford a one-bedroom rent, with Irving at No. 9, Dallas at No. 11, and Fort Worth at No. 15. Here’s the breakdown for each city, based on someone making $7.50 an hour.

Plano

Average 2022 one-bedroom rent: $1,439.80
Work hours needed to afford one-bedroom rent: 198.59
Hourly rate needed to get apartment: $27.69

GOBankingRates says Plano’s higher-than-average housing and utility costs make it even harder to get by “unless you’re on the higher end of the wage scale.”

Irving

Average 2022 one-bedroom rent: $1,235.80
Work hours needed to afford one-bedroom rent: 170.46
Hourly rate needed to get apartment: $23.77

Irving “has costs that edge out the national average by a few percentage points, but similar to other [cities] is hindered by a low minimum wage that is outpaced greatly by housing costs,” GOBankingRates says.

Dallas

Average 2022 one-bedroom rent: $1,161
Work hours needed to afford one-bedroom rent: 160.14
Hourly rate needed to get apartment: $22.33

Although Dallas might be a lucrative place to start business, it’s “less forgiving to renters on the low end of the wage scale,” GOBankingRates says.

Fort Worth

Average 2022 one-bedroom rent: $1,116.60
Work hours needed to afford one-bedroom rent: 153.93
Hourly rate needed to get apartment: $21.46

“Fort Worth is another Texas city where … low wages counter its relatively cheaper housing costs,” GOBankingRates points out.

While those four DFW cities didn’t fare well, the numbers for Austin are even worse. Austin ranked second for the number of work hours needed to afford a one-bedroom apartment (198.68), based on an average 2022 one-bedroom apartment rent of $1,440.00 and an hourly rate of $27.70 needed to get that apartment.

“A bustling cultural hub, the capital city of Texas has become another city where the cost of living has far outpaced the wages — thanks in part to the $7.25 minimum wage,” GOBankingRates notes.

Ahead of Austin on the list of least affordable places for minimum-wage-earning renters was Atlanta, where 213.16 work hours are needed to afford a one-bedroom apartment, according to GOBankingRates.

Photo courtesy of Lang Partners

Fort Worth nails ranking as 12th hottest U.S. city for new apartment construction

Building boom

When it comes to new construction, Fort Worth reigns as a multifamily mecca.

A ranking compiled by Lattice Publishing indicates Fort Worth — along with Arlington and Dallas — saw some of the country’s biggest spikes in planned construction of apartments from 2020 to 2021. The numbers for Lewisville and Irving shot up even more during the same one-year period.

This, on the heels of a RentCafe report that placed Fort Worth (No. 20) and Dallas (No. 49) among the best 50 places for renters in 2022.

Lattice Publishing ranked small, midsize, and large cities based on the percentage change in the number of multifamily units authorized from 2020 to 2021.

On the list of large cities, Fort Worth, Arlington, and Dallas posted big gains.

Dallas ranked third among large cities, recording a 250.6 percent boost in multifamily building permits from 2020 to 2021.
Fort Worth ranked 12th among large cities, recording a 90.1 percent boost in multifamily building permits from 2020 to 2021.
Arlington ranked 14th among large cities, recording a 73.1 percent boost in multifamily building permits from 2020 to 2021.

However, their percentage increases fell short of those for Lewisville and Irving, who were on Lattice's list of small and midsize cities, respectively.

Lewisville appears at No. 5 among small cities, with a 1,469 percent jump in building permits for apartments from 2020 to 2021.

Irving lands at No. 13 among midsize cities, registering a 363.7 percent rise in multifamily permits during that period.

Lattice Publishing notes that as the United States emerges from the pandemic, a promising sign for improving the availability of housing is an overall uptick in planned construction of apartments.

Multifamily housing “increases the density and availability of housing units in urban and suburban locations, and it is more efficient and cost-effective to develop than single-family stock,” Lattice Publishing says. “And with more people now returning to their offices — along with restaurants, bars, venues, and other amenities — denser housing closer to work and social attractions is regaining its appeal.”

RentCafe reports that in Fort Worth, the average apartment size is 872 square feet; the city's apartment occupancy rate is 94.5 percent.

Research conducted by Hoyt Advisory Services shows that through 2030, the U.S. will need to build an average of 328,000 apartments every year to keep pace with housing demand. That mark has been achieved just five times since 1989, according to the National Multifamily Housing Council and the National Apartment Association.

Photo courtesy of Trinity at Left Bank

Fort Worth ranks No. 20 on new list of best U.S. cities for renters

Rent check

It might be hard to believe given the ever-rising prices of everything these days — including rent — but a new survey shows that Fort Worth and two other local cities are among the best 50 places for renters in 2022.

In its new ranking of the top U.S. cities for renters in 2022, RentCafe places Fort Worth at No. 20. Plano edges ahead of it, at No. 13. Dallas just barely makes the cut, at No. 49.

To come up with the ranking, RentCafe analyzed 17 factors, including measurements related to cost of living, quality of rental housing, economic strength, and quality of life. The rental platform reviewed data for hundreds of cities before arriving at 115 contenders.

In Fort Worth, according to RentCafe, the average apartment size is 872 square feet; the city's apartment occupancy rate is 94.5 percent.

Plano, comes in 13th place in terms of "local economy," making it “very appealing” to renters. Median renter income there is an impressive $78,706, and job growth is at 7.4 percent, while unemployment is at 4 percent, the survey says.

Elsewhere in Texas, the Austin suburb of Round Rock comes it a No. 1 on the list. A dozen of the cities in the study’s top 50 are in Texas:

Round Rock, No. 1
Conroe, No. 3
Austin, No. 10
Plano, No. 13
San Antonio, No. 18
Houston, No. 19
Fort Worth, No. 20
Lubbock, No. 21
Amarillo, No. 23
Odessa, No. 39
San Marcos, No. 41
Dallas, No. 49

“Small cities tend to offer the best life for renters, representing half of our top 50 — despite the fact that some people might expect larger cities to suit renters’ needs the best. In fact, many of these smaller cities are suburbs of large metros and are often clustered in the Southern and Southeastern United States,” RentCafe explains. “What they all have in common is a healthy pace of new apartment construction and a great selection of amenity-rich properties.”

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

'Yellowstone' stars to greet fans at Fort Worth Stock Show & Rodeo

Yellowstone news

Yellowstone fans, get your comfy shoes ready - there'll be a long line for this one. Cole Hauser a.k.a. "Rip Wheeler" on Yellowstone, and Taylor Sheridan, the show's co-creator, executive producer, and director of the series, will meet fans and sign autographs at the Fort Worth Stock Show & Rodeo.

The event will take place from 4:30-6:30 pm only on Friday, February 3. Location is the 6666 Ranch booth near the south end of Aisle 700 in the Amon G. Carter, Jr. Exhibits Hall.

According to a February 2 announcement from FWSSR, "fans will have the opportunity to snag an autograph as well as purchase some distinctive Yellowstone and 6666 Ranch merchandise while also enjoying all the features the Stock Show offers."

The event is free to attend (with paid Stock Show admission) and open to the public.

It's the second year in a row for Hauser to appear at FWSSR; in 2022, he and fellow cast mates drew huge crowds.

Sheridan, a Paschal High School graduate, is no stranger to Fort Worth; he lives in a ranch near Weatherford and filmed 1883, the prequel to Yellowstone, in and around Fort Worth. Currently, another spinoff, 1883: The Bass Reeves Story, is filming in North Texas.

The Fort Worth Stock Show & Rodeo is winding up its 2023 run on Saturday, February 4.

Get free pet food, vaccines, and spay/neuter at Fort Worth animal event

Animal News

Animal shelters across North Texas are overcrowded right now, due to an increase in owner surrenders, and a group of animal rescues are coming to the rescue.

Several Texas-based animal welfare organizations are coming together on Saturday June 3, to offer a day of free pet food, vaccines, microchips, and spay/neuter vouchers to pet owners in Fort Worth.

The owner surrenders are a symptom of economic pressures and related issues such as food insecurity, which are up in Texas and across the U.S.

According to a release, in Fort Worth alone, the North Texas Food Bank estimates that 30 percent of the population faces challenges accessing nutritious food. These issues affect not only people, but pets as well - often resulting in families surrendering their pets to a shelter or to an animal rescue.

Fort Worth Animal Care and Control (FWACC), which receives animals from the area, has seen an increase in animals—more than 1,000 additional animals coming through its doors so far this ﬁscal year—with many exhibiting signs of illness easily prevented by vaccinations.

The signiﬁcant increase in animals has stressed resources that are already maxed out. FWACC for example, has faced a difficult crease in its "live release rate" - the percentage of animals that leave their care alive. Last year, its live release rate was at 96 percent and a year later, it has decreased to 87 percent.

Keeping pets at home where they have families who love them is a key component to preventing shelter crowding and the impact felt by the organizations who are faced with it.

The event is Saturday June 3, from 8 am-12 pm, rain or shine, and will take place at 1678 Rockwood Ln., across from Rockwood Park.

Organizations stepping up to help include Cowtown Friends of Fort Worth Animal Control; Spay Neuter Network; Dallas Pets Alive; The Love Pit; and SPCA of Texas.Partners: Fort Worth Animal Care and Control; Don’t Forget to Feed Me Pet Food Bank; Saving Hope Animal Rescue; and Rahr to the Rescue.

The event is supported by CUDDLY, a mission-driven company centered around the needs of rescued animals and the community focused programs that sustain them.

3 Dallas-Fort Worth entrepreneurs rank among Forbes' richest self-made women for 2023

Elite entrepreneurs

Twelve of the country's 100 most successful female entrepreneurs live in Texas this year, and three of them call Dallas-Fort Worth home. So says Forbes in its 2023 list of America's Richest Self-Made Women, released June 1.

"Bolstered in part by a rebound in the stock market, [the richest 100 female entrepreneurs] are cumulatively worth a record $124 billion, up nearly 12% from a year ago," says Forbes.

To make the Forbes list, women had to garner wealth on their own, rather than by inheriting or winning it.

Texas' wealthiest women have made their fortunes in fields ranging from home health care, insurance, and aviation logistics to jewelry design, dating apps, and running the show at SpaceX.

The three female entrepreneurs from North Texas who appear in the elite club of America’s richest self-made women (and their national rankings) are:

Robyn Jones, No. 29, of Fort Worth. Her net worth is estimated at $830 million. Jones is founder of Westlake-based Goosehead Insurance Agency LLC. She started the property and casualty insurance agency in 2003 after being frustrated with her truck-driver husband's "road warrior lifestyle," Forbes says. He joined her in 2004 and they took the company public in 2018. It has nearly 1,000 franchised offices.
April Anthony, No. 34, of Dallas. Forbes puts her net worth at $740 million. She founded the Dallas-based home health and hospice division of Encompass Health Corp and sold it for $750 million to HealthSouth. In 2022, she was named CEO of VitalCaring, a home health and hospice care firm.
Kathleen Hildreth, No. 44, of Aubrey. Her net worth is estimated at $590 million. Hildreth is co-founder of M1 Support Services LP, an aviation logistics company based in Denton. A service-disabled Army veteran, she graduated from West Point in 1983 and was deployed all around the world as a helicopter pilot.

The nine other Texans who appear on the list are from Austin and Central Texas. With an estimated net worth at $4.8 billion, Thai Lee, of Austin, remains at the top of the list in Texas, and ranks No. 5 nationally.

She falls behind only No. 1 Diane Hendricks of Wisconsin (co-founder of ABC Supply, $15 billion net worth); No. 2 Judy Loveof Oklahoma (chairman and CEO, Love's Travel Stops And Country Stores, $10.2 billion); No. 3 Judy Faulkner of Wisconsin (founder and CEO, Epic Systems, $7.4 billion); and No. 4 Lynda Resnick of California (co-founder and co-owner of Wonderful Company, $5.3 billion) among America's richest self-made women.

For some additional perspective, Oprah Winfrey lands at No. 13 on the list for 2023. The TV titan (and most famous woman on the planet) has an estimated net worth of $2.5 billion, Forbes says.

Austin's Lee, a native of Bangkok who holds an MBA from Harvard University, is founder, president, and CEO of SHI International Corp., a provider of IT products and services with a projected revenue of $14 billion in 2023. Fun fact: "Lee majored in both biology and economics," Forbes says, "in part because her English was less than perfect and she wanted to avoid writing and speaking in class."

The remaining eight Texas women on the list are:

Gwynne Shotwell, No. 27, of Jonesboro (Coryell-Hamilton counties). Her net worth is estimated at $860 million. Shotwell is president and COO of Elon Musk's SpaceX. She manages the operations of the commercial space exploration company and owns an estimated stake of 1 percent, Forbes says.
Lisa Su, No. 34, Austin. Forbes pegs Su’s net worth at $740 million, tying her with April Anthony of Dallas. The native of Taiwan is president and CEO of Santa Clara, California-based semiconductor company Advanced Micro Devices.
Kendra Scott, No. 47, of Austin.Forbes says she has amassed a net worth of $550 million as founder of Kendra Scott LLC, which designs and sells jewelry in more than 100 stores (and is worth $360 million). The celebrity entrepreneur is also a judge on TV's Shark Tank.
Whitney Wolfe Herd, No. 52, of Austin. She is worth an estimated $510 million. Herd is co-founder and CEO of Bumble Inc., which operates two online dating apps: Bumble and Badoo. She owns a 17% stake in Bumble and became the youngest self-made woman billionaire after it went public in February 2021.
Paige Mycoskie, No. 73, of Austin. She is worth an estimated $380 million. Mycoskie created founded her 1970s-inspired California lifestyle brand, Aviator Nation, which took off during the pandemic and now has 16 retail locations across the U.S. If the name sounds familiar, that's because she'sl the sister of TOMS founder Blake Mycoskie, with whom she competed on TV's The Amazing Race.
Imam Abuzeid, No. 77, of Austin. Her net worth is estimated at $350 million. Abuzeid is the co-founder and CEO of Incredible Health, which she started in 2017 to help alleviate America's nursing shortage. Forbes describes it as "a souped-up version of LinkedIn for nurses." Abuzeid is one of only a handful of Black female founders to run a company valued at more than $1 billion, Forbes notes.
Julia Cheek, No. 92, of Austin. Her net worth is estimated at $260 million. Cheek founded at-home testing company Everly Health in 2015 "out of frustration at having to pay thousands for lab testing to diagnose issues related to vitamin imbalance," Forbes says. It got a Shark Tank deal with Lori Greiner and is now worth roughly $1.8 billion.
Belinda Johnson, No. 96, of Austin. She is worth an estimated $250 million. Johnson was Airbnb's first chief operating officer and led many of its legal disputes. She stepped down from that role in March 2020, Forbes says, and left the company's board in June 2023.

View All Listings