Dallas Submarket Effective Rental Rates In 2022
Dallas has historically been a favorited market for real estate investors, but not all submarkets are equal. The average rental rate across Dallas is currently at $1,526 and still very affordable when compared to other major metros across the country. Below are the average rents for 32 different submarkets in the Dallas MSA. As you can see, there is a wide range between the top and bottom markets in the Dallas area that spans from an average of $2,268/month down to $1,023, or a delta of $1,245/month!
Oak Lawn/Park Cities ($2,268)
Intown Dallas ($2,049)
West Plano ($1,794)
Frisco ($1,781)
Las Colinas/Coppell ($1,725)
East Dallas ($1,718)
The Colony/Far North Carrollton ($1,701)
Allen/McKinney ($1,668)
Richardson ($1,655)
Rockwall/Rowlett/Wylie ($1,616)
Central/East Plano ($1,607)
Carrollton/Farmers Branch ($1,549)
Lewisville/Flower Mound ($1,548)
Addison/Bent Tree ($1,532)
Love Field/Medical District ($1,514)
North Oak Cliff/West Dallas ($1,469)
Zang Triangle/Cedars/Fair Park ($1,431)
Grand Prairie ($1,427)
North Dallas ($1,399)
North Irving ($1,359)
Ellis County ($1,357)
Far North Dallas ($1,351)
Denton ($1,348)
Garland ($1,345)
Southern Dallas County ($1,306)
South Irving ($1,225)
Northeast Dallas ($1,196)
Mesquite ($1,176)
Far East Dallas ($1,132)
Northwest Dallas ($1,126)
Southwest Dallas ($1,101)
Southeast Dallas ($1,023)
Top 5 Submarkets
Each of the top 5 submarkets in the Dallas MSA have reasonably high rents when comparing them to the average of the city as a whole. They average $397 higher than the mean of the data set. Oak Lawn/Park Cities tops the list a whopping $2,268/month on average.
Bottom 5 Submarkets
The bottom 5 submarkets in the Dallas MSA on the other hand have significantly lower rents than the average of the city as a whole. They average $414 below the mean of the data set. Eastern and Southern submarkets seem to round out the bottom of the list with the lowest rents in the city.
Overall, the Dallas still has relatively affordable rents vs other major metros across the nation. You can see how it stacks up against the most expensive markets in Primary, Secondary & Tertiary markets across the country here.
Data courtesy of RealPage, Inc.
