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Renting a one-bedroom apartment in Richardson is only $20 cheaper per month than in Dallas, and at the rate Richardson rents are growing, it will not stay cheaper for long. Average rent in Richardson stands at $1,260 per month, but is growing 9.6% annually, according to new data from Zumper.
In summer 2016, the Richardson Economic Development Partnership stepped up its marketing efforts to lure more millennials and young professionals to the area.
Fort Worth is the second-fastest-growing rental market with rents rising 9.5% annually. Frisco comes in as the third-fastest-growing apartment market with rents rising 8.7% annually.
In order of most expensive, Dallas, Richardson, Frisco, Irving, Plano, Carrollton, McKinney and Fort Worth have the highest multifamily rents in North Texas and all remain above the state median. At a one-bedroom average of $650/month, Mesquite is the most affordable city in which to rent in North Texas. Arlington comes in a close second at $680 and Grand Prairie third at $710.
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