All homes and bedroom counts
RENTAL MARKET INTELLIGENCE
Dallas, TX
Dallas merits investigation by buyers who can underwrite weak current rent movement and compete with substantial new supply; investors dependent on near-term rent gains should avoid it.
Median price$367k
Median rent$1,673
Gross yield5.5%
Job growth▲ 0.8%
Composite Market ScoreRank #364 of 571 scored US market areas
Direct rental answer
How much is rent in Dallas, TX?
Zillow's metro-wide Observed Rent Index is $1,673 per month for 2026-06-30. That is down 0.06% from a year earlier.
Studio, 1BR and 2BR listings
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Dallas
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Dallas County, TXFIPS 48113 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Tarrant County, TXFIPS 48439 | $1,427 | $1,473 | $1,723 | $2,273 | $2,815 |
| Collin County, TXFIPS 48085 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Denton County, TXFIPS 48121 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Ellis County, TXFIPS 48139 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Johnson County, TXFIPS 48251 | $1,427 | $1,473 | $1,723 | $2,273 | $2,815 |
| Kaufman County, TXFIPS 48257 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Parker County, TXFIPS 48367 | $1,427 | $1,473 | $1,723 | $2,273 | $2,815 |
| Rockwall County, TXFIPS 48397 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Hunt County, TXFIPS 48231 | $1,582 | $1,648 | $1,931 | $2,431 | $3,091 |
| Wise County, TXFIPS 48497 | $912 | $918 | $1,205 | $1,676 | $2,021 |
The read
Why this market scores where it does
Dallas merits investigation by buyers who can underwrite weak current rent movement and compete with substantial new supply; investors dependent on near-term rent gains should avoid it. Jobs increased 0.82%, while asking rent slipped 0.06%, so economic activity has not translated into stronger advertised rents.
The entry economics are mixed. The median home value is $366,701, down 3.01%, and gross yield is 5.48%. Rent absorbs 22.24% of median household income, suggesting room in household budgets, but that capacity should not be treated as proof that rents will rise.
The main risk is supply: 68,016 permits equal 8.52 per thousand residents, weakening landlord pricing power if additions compete for tenants. Net migration was positive at 21,070 households, which supports the demand side, while inland flood is the dominant hazard and requires property-level review.
Frequently Asked Investor Questions
Does migration provide a demand offset to the supply risk?
Tax filings show 139,324 households moved in and 118,254 moved out, producing positive net migration of 21,070. That is supportive for the tenant pool, but the record does not show where those households settled, whether they rented, or whether their demand matched newly permitted units.
Are incoming households financially stronger than outgoing households?
Average adjusted gross income was $86,488 for incoming movers and $83,365 for outgoing movers. The published gap is $3,123 in favor of incoming households, a positive income-mix signal, though the record does not connect these movers to specific rents, neighborhoods, or property types.
How much investor competition is visible in purchases?
Non-occupants represented 8.96% of purchase mortgages, and total purchases were 104,736. This identifies a measurable investor presence, but cash acquisitions, buyer concentration by neighborhood, bidding intensity, and current acquisition terms are not published.
Investor Quick Takeaways
Gross Yield: 5.5%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▼ 0.06%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 9.0%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Dallas as the starting point or move into a more specific property and rent check.
Run cash flowStarts with this market's measured price and rentSave to shortlistCompare this metro with up to four other placesCheck rent by ZIPMove from metro context to a local rent benchmarkFind a comparison marketRead a curated two-market decision analysisShare this analysisEmail the canonical link without adding page scriptsReport a data issueSend the figure, source and release period to review
Market pulse
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
Months of supplyn/aRedfin unavailable
Median days on marketn/aRedfin unavailable
Listings with price dropsn/aRedfin unavailable
Sale-to-list ration/aRedfin unavailable
Home value growth▼ 3.0%Zillow ZHVI · trailing 12 months
Rent growth▼ 0.06%Zillow ZORI · trailing 12 months
Gross rental yield5.5%Rent × 12 ÷ price
Payroll job growth▲ 0.8%CES · 12m to 2026-06
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady44→44
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
The one chart
Rents versus prices, indexed to 2019
Both series start at 100. The gap between the lines is the investment case, and which line is closing it tells you what kind of market this is.
Reindexed Price vs. Rent Growth
2019 = 100 · annual · 2019–2026
Since 2019, prices are up 41% and rents 28%. Prices running ahead of rents is what compresses yield. ✓ recomputed from series
Composite breakdown
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
Published arithmeticComponent × weight = points
44| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 78 | 30% | 23.40 |
| Rent trend | 7 | 25% | 1.75 |
| Affordability | 68 | 15% | 10.20 |
| Supply pressure | 2 | 15% | 0.30 |
| Climate risk | 56 | 15% | 8.40 |
| Published score | 44 | ||
Dallas, TX scoreRank #364
44Job growth78/100
Job growth of 0.82% -> labor demand is a supportive signal, but the record does not show whether growth is concentrated near a prospective property.
Rent trend7/100
Asking rent declined 0.06% -> buyers should base returns on current rent rather than assuming rent appreciation will repair a thin deal.
Affordability68/100
Rent equals 22.24% of median household income and price equals 4.06 times income -> tenant affordability appears less strained than purchase affordability, but neither measure establishes achievable property-level rent.
Supply pressure2/100
Permitting totaled 68,016, or 8.52 per thousand residents -> a large development pipeline can intensify competition, so buyers should examine nearby deliveries, concessions, and vacancy before underwriting.
Climate risk56/100
The climate loss ratio is 0.1328%, with inland flood the dominant hazard -> expected loss is measurable at the metro level, but parcel exposure, insurance terms, and mitigation costs remain property-specific.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$367k
YoY ▼ 3.0%
ZORI Median Rent
$1,673
YoY ▼ 0.06%
Gross Rental Yield
5.5%
Rent × 12 ÷ price
$1,673 × 12 ÷ $366,701
Job Growth (YoY)
▲ 0.8%
CES payrolls
Job signal 78/100
Median Household Income
$90k
Census ACS 5-year
Rent Burden
22.2%
Annual rent ÷ household income
Price-to-Income
4.1x
Median value ÷ household income
HUD 2BR Fair Market Rent
$1,931
Market rent 86.7% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark5 of 5 reported values
Zero-based scale$1,673Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$1,462−$211 vs ZORI
2026-05
Studio, 1BR and 2BR listings
The median advertised rent in Realtor.com's 50-largest-metro rental report; source NAs remain unavailable.
View source release ↗$1,648−$25 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,931+$258 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$1,614−$59 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Dallas as context, then replace market-wide evidence with the candidate property's facts.
Direct local rental evidence
Recent leases and rental-market liquidity in Dallas, TX
These Apartment List observations match the exact metro CBSA code 19100. They are kept separate from Zillow asking rent, Census occupied-home rent and property-level comparables.
Direct recent-lease rent history
Monthly overall-rent index; missing observations are not filled from another geography.
Recent-lease rent$1,4162026-07 · -2.4% year over year
Rental vacancy9.0%2026-07 · +0.3 percentage points year over year
Time on market35 days2026-07 · +1.7 days year over year
Measured rent retention
How much of gross yield survives the first two measured deductions?
This bridge subtracts direct rental vacancy and effective property tax only. It is not net yield, NOI, cap rate or property cash flow.
measured retention property tax vacancy
- Gross yield
- 5.5%
- Vacancy
- 9.0%
- Effective tax
- 1.6%
- Retained yield
- 3.4%
Regional price level
What feels expensive inside Dallas
BEA compares each category with the United States, which equals 100. This is a 2024 price-level comparison—not annual inflation.
BEA Regional Price Parities · 2024US = 100
Occupation wage lens
How asking rent sits against major local occupations
Annualized Zillow asking rent is divided by each BLS annual median wage. This is a screening ratio for one wage, not a household budget or affordability verdict.
Six largest published major groupsannual rent ÷ median wage
Office and Administrative Support Occupations$47,080 median wage
42.6%
Transportation and Material Moving Occupations$44,570 median wage
45.0%
Management Occupations$128,140 median wage
15.7%
Food Preparation and Serving Related Occupations$29,370 median wage
68.4%
Sales and Related Occupations$37,760 median wage
53.2%
Business and Financial Operations Occupations$81,490 median wage
24.6%
Supply pipeline
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
66,438 units authorised in 2026, 35% of them in 5+ unit buildings. A meaningful share is apartments, which discount first when they lease up. ✓ recomputed from series
Who is arriving, and who is buying
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
Net Household Move
+21,070
139,324 in vs 118,254 out (IRS SOI)
▲ 15.1% of arriving households
Mover Income Gap
+$3,123
Arriving $86,488 vs leaving $83,365
Average AGI per tax return (IRS SOI)
Investor Purchase Share
9.0%
9,384 of 104,736 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.133% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Harris County · Travis County · Los Angeles County · Bexar County · Orange County
✓ 139,324 in − 118,254 out = 21,070 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Houston, TX8,093 arriving
- Austin, TX5,664 arriving
- Los Angeles, CA5,106 arriving
Leading outbound markets
- Houston, TX7,455 leaving
- Austin, TX6,408 leaving
- San Antonio, TX2,729 leaving
Directional moving briefs
Relocation routes involving Dallas
Each route begins with a direct IRS tax-return household flow and then tests what changes in housing, income, jobs, regional prices and climate evidence.
The other side
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- Rent performance could remain weak: median asking rent already declined 0.06%, leaving little evidence of landlord pricing power in the supplied period.
- New construction could outpace tenant absorption: 68,016 permits and 8.52 permits per thousand residents indicate meaningful potential competition for existing rentals.
- Inland flood exposure could raise ownership costs or impair operations; the metro loss ratio is 0.1328%, while property-specific insurance premiums and flood exposure are not published.
Inside this metro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
County records
County · TXDallas County$312k home · 6.3% yieldCounty · TXTarrant County$326k home · 6.0% yieldCounty · TXCollin County$487k home · 4.3% yieldCounty · TXDenton County$444k home · 4.6% yieldCounty · TXEllis County$376k home · 5.8% yieldCounty · TXJohnson County$344k home · 5.5% yieldCounty · TXKaufman County$300k home · 7.4% yieldCounty · TXParker County$448k home · 4.3% yield
Cities in this market
City · TXDallas$311k home · $1,618 rentCity · TXFort Worth$300k home · $1,635 rentCity · TXArlington$314k home · $1,546 rentCity · TXPlano$504k home · $1,713 rentCity · TXIrving$346k home · $1,592 rentCity · TXGarland$289k home · $1,519 rentCity · TXFrisco$656k home · $1,861 rentCity · TXMcKinney$483k home · $1,819 rent
Statistical peers
Market areas that behave like Dallas
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Dallas, TX (Target) | 44 | $367k | $1,673 | 5.5% | ▲ 0.8% |
| Philadelphia, PA | 59 | $395k | $1,928 | 5.9% | ▲ 0.3% |
| Atlanta, GA | 46 | $383k | $1,854 | 5.8% | ▲ 0.2% |
| Houston, TX | 36 | $309k | $1,648 | 6.4% | ▲ 0.6% |
| Phoenix, AZ | 36 | $447k | $1,733 | 4.7% | ▲ 0.2% |
Provenance
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |