Are rents going down?
Posted by Rgyz18@reddit | Dallas | View on Reddit | 177 comments
I remember around this time last year most 1 bedrooms were around. $1000 to $1200. But right now almost 1100 place are available within $750 to $1000 and some are giving specials, so whats going rents going down? Or all these places just old and bad. These are for DFW area.
genghis-san@reddit
Yes, the rents in my building have gone down 2-3 times because they have trouble filling it up. Studios go for just under $1000 now, and I'm in a good area. It's also great because there's at least 4 buildings finishing construction soon, so there's even more apartments coming on the market here.
Thin-Fennel8582@reddit
Wya?
ImprovementDue1960@reddit
Bought new in Feb 2022, mortgage is $1472 a month in TX, just looked at similar houses around me and they are renting a minimum of $1500 but mostly round $1700-1800 for 3bed 2bath. And these are all mainly homes built from 2021-2024. Only put 3% down.
Give_Live@reddit
That’s low rent. You must be in Celina or Anna way out. Where are you? Any listing examples to share?
ImprovementDue1960@reddit
75401
Give_Live@reddit
Literally that’s in the middle of nowhere. That’s why rents are low. In Collin and Denton - rents for a nice older home is 2400-2500 for a 3/2. I own rentals.
BernieBreadstick@reddit
Had a friend renew their lease last month, downtown near Deep Ellum. The renewal rate didn't increase from last year, so they went to look online. Their same floorplan was renting for less than their renewal rate.
Give_Live@reddit
You will have to change apartments. Sometimes that’s bad for varying reason.
Satisfyingtheitch@reddit
Yes, we’ve lowered the rent in an attempt to find a tenant in our home from $3,200 to $2,998. This has been over the span of about 2.5 months.
For anyone interested, our house is for rent! Larger incentives for not using an agent.
https://www.har.com/homedetail/2256-rook-dr-dallas-tx-75211/15168201
RoyalRenn@reddit
Not sure why you got downvoted. At any rate, FWIW, that place would be $3k up here in Collin County. You're in a nicer neighborhood though: I'd much rather live around Kessler than the suburban wasteland that is Collin.
A family sized home in this area is going for $4k/mo if it's in good shape. $3300 for a dump with cat piss smells. It's still inflated but at least I've seen several rentals move in desirable school districts for $4k. Post-COVID, you're looking at multiple renters at $4,600/mo.
Oddly enough, renting is now more attractive than buying. A friend of ours recently moved out of their house that they could have sold for $850k. They got a renter in there, but only at that $4k/mo price. It would have been better for them to sell.
They owe $1,600/mo in taxes, $600/mo for housing insurance, then they have their mortgage and interest due. Essentially they are out of pocket $600/mo right now. Sure, they get a capitalized deduction for the house, but they'll need to budget for maintenanace and property management. If the house isn't appreciating (which it hasn't in 2 years) than they would have been better off selling and 1031 into their new place.
I agree with the poster above: rents and sale prices should correlate over time. If rent falls enough and ownerships costs don't, people will rent and the market for sales will drop. We are in that boat as well: looking at houses to buy but then seeing that we could rent the same place for $2,500 less per month is eye opening.
Give_Live@reddit
You have no idea what you are talking about. A 1500 sq ft townhome doesn’t rent for $3,000 in Collin county. That listing is 2 bedrooms and a study. No yard at all. No home is renting $3,300 with cat piss. Just ridiculous. I own rentals all over DFW. You don’t. Only a 5k saw ft is renting for $4500 and it’s rare. Please give real examples.
WorkingGuest365@reddit
I’m not crazy familiar with the Fort Worth market, but that in say east Dallas would be around $2500 with that square footage. Maybe it’s a little to high
Proshchay_Pizdabon@reddit
I remember when I first moved to Dallas in 2008, I got a 1br apartment at The Village for $550… lol
_loathed@reddit
Any tips on negotiating? I’m looking now and not sure how to approach it.
Soze_GTH@reddit
Low ball always. Even if you think it’s rude do it anyway. You never know if you’ll get what you want if you never ask. Most people say no because you have to get them to say yes. Starting with a low number will cause them to counter with a high which would be in your median or right at your expected price. if they don’t budge then move on with no conclusion given and they’ll call you if they can’t find a better offer.
Proshchay_Pizdabon@reddit
No idea, I don’t live in Dallas anymore so have no idea how they are anymore. Though I am moving back soon I wonder if one could even negotiate rents.
blacktoise@reddit
The answer is basically no
Unicornbreadcrumbs@reddit
Closed mouths don’t get fed. I think if everyone started at least attempting to negotiating down, it would help our cause as plebs. It could just be a simple “hey I see the X apartment for $2K, I can only afford $1799- are y’all willing to work with me on that number or should I keep looking?”. Don’t over complicate it.
betterthingsahead88@reddit
This. The worst they can say is no.
IndependenceAfter376@reddit
Look up how many vacant apartments are in your complex. Look up housing cost increases last month to help further determine if they are trying for the standard housing increase or if they are trying to make a quick Buck.
czfreak@reddit
Same but in Lewisville. They weren't bad either. It was my 1st apt, and i was happy.
Mysterious-Set7921@reddit
Rented a house with 2 friends in 2011. 3 bedroom 2 bath $1100. I barely made any money back then and had a nice place to stay for $367 a month
jesuisunvampir@reddit
That is over 16 years ago...
YoMTVcribs@reddit
But in those 16 years average pay certainly hasn't doubled. You could live in one of those $550 apartments because entry level jobs were paying 20/hr.
FunComm@reddit
It’s close to doubled. https://fred.stlouisfed.org/series/MHITX48113A052NCEN
EzEuroMagic@reddit
Entry level jobs now pay less then then in fact!
Proshchay_Pizdabon@reddit
Just pouring out how cheap rents used to be then. Now I look online and similar apartments for for $1700+
AnnualNature4352@reddit
dallas imo was one of the best values on apts for a long time
jesuisunvampir@reddit
And cars too :( do you remember how much was the car lease?
Proshchay_Pizdabon@reddit
I remember you could get a used car for under $$10k at a dealerships. Now I don’t there are any under $20k
texan01@reddit
You can’t get a decent $1,000 beater anymore, those are now $4,000 shitboxes and the $1,000 shitboxes are hip deep in the grave and look like someone went to the Ray Charles driving school and demo derby.
Proshchay_Pizdabon@reddit
1998 Toyota Tacoma with 250,000 miles. $10,000. No low ballers I know what I got
texan01@reddit
Is the frame rusted in half?
that1dudewithefro@reddit
Holy shit, I really thought that math wasn’t adding up, I’m getting old
chairwindowdoor@reddit
Oh god 😮 time really does fly
T_ReV@reddit
$550 in 2008 dollars is only $804 today. Today the cheapest village apartment is $1232 for a 383 sqft apartment.
AndreaDTX@reddit
Ah yes. The village, 2008. Same year, I got an 800 sq ft apartment for $750 a month. That would go for a cool $1800/mo now.
toodleroo@reddit
I paid about $1 per square foot for my first 1-bed apartment in 2005. My second apartment was even cheaper at $900 for 1200 sq ft.
Iant-Iaur@reddit
When I first moved to Dallas in 1995, a gallon of gas was about 60 cents.
optymus@reddit
And in 2016 it was $1050 a month.
LordEmperorCoochie@reddit
I remember when I was born in Dallas in 1963. A 4 bed home was only $16K to purchase.
imsetaway@reddit
2012, I paid 450$ Preston & Frankford.
qolace@reddit
Six years later I got a 1BR for $675 right down the street from the gayborhood. Miss those prices uhg.
Repulsive_Option40@reddit
Same. Miss those days.
SalamanderTasty1807@reddit
My best friends stayed at The Village. That complex is gigantic. But that area was awesome back then in 2007.
Soze_GTH@reddit
The millennial is coming of age in both community and financial stability. We read contracts and ask for advice instead of gatekeeping a “deal” when in reality you just don’t want to tell anyone you were ripped off.
shadowartifact9@reddit
$1000 to $1200??? Lol sign me up
Zelekos@reddit
No. That place is just haunted.
XipingX@reddit
They want to raise mine 15%.
Maximus-Festivus@reddit
Houses that were getting sold in hours around 2020-2022 are sitting for month+ in my area.
Rent should track house demand
czechyerself@reddit
Except that rent is on a rolling 12 month basis so it can’t. Houses sales aren’t 12 month terms
Still_Detail_4285@reddit
Rent prices are reset constantly. You might sign a 12 month lease but new rentals can have different prices. Just like buying a home. Price changes all the time.
Mediocre-Returns@reddit
No. You're talking about something pretty well studied it lags the housing market by about 6 months.
HeavyVoid8@reddit
You realize most places update rent prices every few weeks
Lemondrop168@reddit
This is what RealPage is in trouble for, collusion
Maximus-Festivus@reddit
Doesn’t that assume everyone signs to rent in the same month and prices are static?
Mediocre-Returns@reddit
It lags by about 1/2 year or more
blacktoise@reddit
What do you mean the houses are sitting for month+
HeavyVoid8@reddit
Couple years ago they would have an open house and 40 cars would be like up around the neighborhood. People were paying $50k over asking, cash, no inspection etc. Now houses aren't selling immediately and are on the market for weeks and sometimes months
Illustrious_Good277@reddit
I've been house hunting for the last couple of months and watching steady price decreases in A LOT of homes (North DFW is where I've been looking). I'm under contract now, but I still get alerts for homes with price decreases every day.
Maximus-Festivus@reddit
Available for sale / open house signs for weeks
At the peak buyers were tripping over themselves.
YoMTVcribs@reddit
I was in that group. Spent two years house hunting. People were paying over asking price for trashed homes that need lots of renovation. The only house my bid was accepted on was a 390k home in Bedford near the library. I had it inspected and they found the entire foundation was cracked right down the center and the house was going to split in two. Owner said they refuse to go down on the price and went with someone else.
I must have looked at five houses a weekend for over a year.
ManticoreMalice@reddit
Foundations tend to be trash in the DFW area (especially Irving.)
Vegetable-Debate-263@reddit
My rent went up 50% I’m 3 years.
ZigNet@reddit
Yea mine was 800 and went up to 1200 in 4 years went from affordable to now in debt had to break contract
Background_Kale_2958@reddit
Realpage got sued for rental price fixing so they all trying to pretend it’s not happening and save faces. They will bump it up in no time again , after scandal is over
Kagedbeast@reddit
Something’s happening. RealPage out of Richardson is being investigated by the freaking DOJ. My complex just transitioned to a new payment portal that isn’t run by RealPage. Good friends with one of the leasing agents and he was telling me my old unit (2 bedroom I was paying $2,500/month) hasn’t been leased since switched to a smaller unit that saved me a $1,000/month. Apparently He said nit to be surprised if when I renew in six months they don’t offer me a LOWER price to keep me there. For info, I live in Frisco and have lived here for 6 years. Never lived in another complex that handles their business as well as this place does and the neighbors are all top notch.
buzzlegummed@reddit
Mine kept the same rate, but new applicants could lease it off the street $100 cheaper. So I talked to the manager and got a one time credit of $1200 to take care of it.
ChefRoyrdee@reddit
They are down from their peak but still a little too high. It’s progress
Emotional_Energy_731@reddit
Fun fact some apartments will lower the rent for 1 unit, to get in traffic but the chances that that unit is still available at that price is slim to none.
pobox01983@reddit
I am living in an OKAY apartment for last 3 years. But when I gave notice to leave, they offered me 1 month free if I sign up for 11 months.
Back in 2022, they jumped the rent by $250 per month. I asked to lower it, the leasing office employee laughed at me and said “leave it or take it.” Now things have changed.
Boring_Ad26@reddit
I would of laughed too lol that's a ridiculous request.
BeneficialHedgehog97@reddit
Really felt the need to add that didn’t you lmao
Patient_Ad_2357@reddit
Mine kept my rate the same this renewal. I didnt even ask. They offered it on the last day to sign bc i hadnt signed it lol
pobox01983@reddit
Also, I live in Coppell area. If you are around Cypress waters area, they are building big apartment complexes.
Coppell population is ~ 43k. The number of new apartment units can hold ~4000 people or more. They are building at unprecedented rate and will be available to lease before end of spring /start of summer.
_______woohoo@reddit
fun fact: the majority of Cypress Waters is the City of Dallas
PetTRex-@reddit
I learned this while living there and trying to get a library card in Coppell.
Patient_Ad_2357@reddit
Nowhere near that and i wont be moving for the next two years at least. Wont qualify anywhere else. Went through a job loss and credit went to shit after so long without income. I’m stuck where i am
alextheruby@reddit
Apartments don’t really care about credit lol, as long as you meet the income requirement and you might not have the cheapest deposit
CluckstinaEgguilera@reddit
the not shit hole ones absolutely do 😅
omar_strollin@reddit
They absolutely pull credit reports
alextheruby@reddit
Good thing that’s not what I said.
otb_vznz@reddit
Made me LOL for real😂😂😂
alextheruby@reddit
Reddit brings people out of the woodworks who just have to respond with some “well actually” shit lol
omar_strollin@reddit
Let me remind you that your first comment was an “well akshually” to Patient_Ad
I own my own home and have a credit score in the 800s
I know that credit is taken into consideration because I have friends that are landlords or work I property management
I’m grateful it hasn’t affected you!
alextheruby@reddit
No, I told them information relevant to their situation to let them know they aren’t out of luck in regards to finding a place. You responded to me (I guess you’re bored?) to say tell me something that I didn’t say, then pivoted to talking about the value of credit. Just take the L, and go on about your day. Lmao.
omar_strollin@reddit
Take the L on what, you’re wrong?
omar_strollin@reddit
You said they “don’t really care about credit”
They absolutely care about our credit
Credit is an indicator of you reliably paying installments, for example, your rent
You will be denied from apartments, regardless of your income, if you’ve demonstrated that you don’t pay what you owe
alextheruby@reddit
As long as you don’t have any evictions, your credit will only impact the amount of your deposit. If you’ve had some places in the past that have denied you because of your credit, tough luck.
omar_strollin@reddit
Google “renting an apartment credit score”
This is an easily settled topic. There are landlords and apartment companies that will deny you if your score is under a certain threshold.
It has nothing to do with deposit, because if your credit is shit, it’s not like you have any money to pay them when you destroy the property or fail to pay your rent
Sanchastayswoke@reddit
Idk. I’ve gotten nice apartments in Dallas county with a credit score in the 500’s. I always have a good renter history though so that helped
alextheruby@reddit
That’s why I’m not even responding with them lmao. I have had credit probably worse than that. If you don’t have any evictions they truly don’t care. Do they reserve the right? Yeah I’m sure. But it’s rare. Which is why I said to him “if you’ve been denied then that’s a you problem”
Sanchastayswoke@reddit
Yep exactly! They can downvote us all they want. I know from personal experience.
Capable_Paint9030@reddit
Proof of income and no previous evictions is generally more important than credit. HOWEVER, if your credit is really messed up you might be flagged as high risk and denied. But you certainly don’t need immaculate credit to rent in most complexes.
czfreak@reddit
Maybe if you don't have any history from other apartments to show you've never missed a payment. I haven't had a problem and my credit is shit
Patient_Ad_2357@reddit
I deff wont make income with how high rent is everywhere else. Wages seem pretty awful here ngl. I hardly see anything 50-60k that isnt a soul sucking sales job 😫 may have to go back to school at this rate for something. Everytime i get on a job board it makes me feel depressed seeing “store manager $14-16 an hour”
xPhoenixRising@reddit
Nice! Did you already give them your notice to not renew the lease?
Patient_Ad_2357@reddit
No i just didnt do anything and it was the last day to sign it when it happened. The funny thing is i was going to sign the renewal with the increase but i got the email from the manager right before i opened the docs to sign. It was a blessing bc i couldnt afford the renewal rate. Even the rate i have now is really hard. But better than being homeless
Particular_Trip_9446@reddit
No they are still high it probably doesn't have any windows lol
Typical-Event-7559@reddit
My one bedroom went up to $1,870 in the Love field area. I found same layout for $1,158 in the medical district. My leasing agents best option was Nothing. Besides that the property has been under new Management for the sixth time in two years.
ContestSoft5785@reddit
Is it PARKwest apartments by any chance?
LilAngelfxck@reddit
Do you have any issue with bugs? My apartment has been getting worse this year. I’m paying $1800 for a roach infested 1 bedroom apartment . Def moving out this January
Dramatic_Skill_67@reddit
6th times in 2 years for management company is crazy
Adorable-Rise-6647@reddit
Those aren't 100% accurate. You need to check the websites to the apartments that show up on that app. Most of them aren't updated.
Minimum_Ice_3403@reddit
Activity in all aspect of business has slowed down a lot . It’s a take a long time for real estate to reflect reality.
TXRhody@reddit
My son had his rent go down. He found a cheaper apartment anyway. Then they asked what they could do to get him to stay. Of course, there are always better deals if you move, so he's still moving, but I was surprised his rent went down without him asking.
stvntckr@reddit
Ya that’s insane, never heard of rent going down and I’ve worked leasing for nearly two halves of a decade
JUICEHEAD4@reddit
Nearly two halves? So one whole decade?
betterthingsahead88@reddit
Also need the answer to this
smallchinaman@reddit
With people losing jobs left and right of course they have to lower the rent. A lot of apartments now are also offering 4 weeks to 8 weeks free to filling their vacant units.
Codee33@reddit
Mine definitely did go down in North Dallas. Moved into a significantly bigger space in my complex for the same peace I’ve been paying.
CluckstinaEgguilera@reddit
not really
the fees are going up lol
sotta_pop@reddit
I work for an apartment property management company and new rents have decreased about -1.0% this year with renewals still hovering around 2.0%. There are 28,000 new units coming in 2025 so expect similar numbers next year
RewardImmediate3865@reddit
Yep
LibertyProRE@reddit
They are building more and more apartments, so that's helping a lot just by itself. Properties know people want to live in the newest built places too. Why not move to the new place when the price is the same or lower? Also, I always recommend the newest places to my clients to help them avoid critters. ;-)
capital469@reddit
Grand Prairie needs to come down. Still they’re at 2k for some 2 bedroom apartments. However I don’t think Grand Prairie is there to charge that much for rent.
They’ve overbuilt here. Once a lot of these places are finished and if the demand isn’t there as they thought it would be or was when they broke ground… well we should see a nice drop.
Supply and demand. Too much supply, not enough demand at 2k.
bum-sneeby@reddit
They suck you in with the first lease when thats up they bang you over the head!
Climbtrees47@reddit
So you move on to the next one
DowntownComposer2517@reddit
It’s a pain and expensive to move often
Climbtrees47@reddit
I did it for 10 years. Live light, rent a truck and move yourself. Or pay.
For 4 of those years I just moved across the street and back. I was able to move leisurely in just a pickup and I was able to take advantage of the move in specials every time.
Successful_Test_931@reddit
Okay not everyone is single
Climbtrees47@reddit
I wasn't single. I also have a child. Don't go making assumptions.
Successful_Test_931@reddit
You literally said “I” in your entire post. If you don’t want people making assumptions then be clear.
Climbtrees47@reddit
Oh ok. My bad.
We think you're over reacting to minor semantics.
Successful_Test_931@reddit
Suddenly he has a family lol
Anon_Bourbon@reddit
I moved 6 times in my first 7 years in Texas. Never hired a mover, always got it done with a single U-Haul for like $150 total.
The first/last month deposits can be the expensive part but there's plenty of specials available
Climbtrees47@reddit
This is exactly my point. I've realized long ago that shopping around, whether apartments, cell provider, internet, etc. will generally benefit you by seeking out entry deals/specials.
Yes it all takes planning and effort but don't waste your money because it's convenient to do so.
FoolishConsistency17@reddit
The whole point of money is to make your life more convenient!
Alcoholic720@reddit
I shop my car/home insurance every year.
I pay 1/3 competing rates. Had State Farm since I was 17 and got grandfathered onto my dad's plan (back when they did that) so my "history" supposedly goes to the year I was born.
I pay less for full coverage on 3 cars than my gf does for hers, and we have shopped around. I also carry 3rd party on my "classic" car.
Soft_Plastic_1742@reddit
When we were establishing ourselves, we moved every 12-18 months and never paid a mover— even when we moved cross country. Now we are older, established, and I won’t even pack up anymore. I’ll just pay the movers to pack. Haha
TheDakestTimeline@reddit
Why the down votes for this perfectly sensible comment?
Climbtrees47@reddit
Probably thought I was being an asshole.
Own_One_1803@reddit
Hell yeah same here
phatmahn@reddit
You can negotiate. You can always ask to get the current deal their running. It worked out for me the majority of the time.
Climbtrees47@reddit
Sure can. In that instance if I got what I wanted I would stay. But, I am specifically talking about when the apt complex wants to raise your rent and they aren't budging. Which happened to me for 10 years straight.
bum-sneeby@reddit
They are building apartment complexes like crazy in north dallas theres a surplus of them who do you! think they are gonna be for hmmmm?
BuddyOk3547@reddit
oh man. its discouraging looking to rent. currently living rent free with my family but just really want a peace of mind and have my own place, but it seems like lots of places labeled as "luxury" are just upselling and scamming with rent prices
Sri-So@reddit
Is it possible that you are comparing rent in a high demand month last year to rent in a low demand month? For eg. Our apartment but was only 1300-1400 in March, April of this year but a similar apartment ( next door with same floor plan and features) was around 1700 in may/June of this year.
Alone-Examination327@reddit
I signed a 15 month lease last September, $2300 a month. My lease ends in September and they just sent me renewal offers. The best of the bunch is $1800 for another 15month. It’s actually insane I’ve never had my rent DECREASE let alone by a significant amount. I started to look around and realized most of the buildings in my neighborhood I looked at last year are also cheaper.
Joseph10d@reddit
I signed my current apt for a 12 month $1500 lease in April, now my same apartment is listed for $1250 on their page.
gavmcd@reddit
Yes
StrangeOperator@reddit
In my opinion the lawsuit against realpage artificially driving rent prices up, has scared a lot of management companies into lowering rates and becoming far less aggressive in pricing.
VapureTrails@reddit
“We have a housing problem” “We need more density to combat our housing problem” Ive been lit up on here saying that we have plenty of housing. We have a greed problem when it comes to rent fixing.
rifrev@reddit
I renewed last month and I was offered the same rate as my previous lease - no increase at all. So I would say the market is at least cooling down.
SiriusSlytherinSnake@reddit
We're trying to figure out what suspicious witchcraft is going down at the apartment my friend is set to move into in a couple months. It's basically 70 dollars more than they pay now. 1000 for 2 bed 2 bath in oak Cliff that absolutely is covered in the landlord special. Except this place is also 2 bed 2 bath. Same bills. All bills paid except electric. They also will now have a washer dryer in unit. The building has a pool and 24hr gym. And it's in uptown... How in the high hell he found a 1100 2b2b apartment in uptown with extra amenities that isn't suspicious is beyond me.
Araguill333@reddit
I fucking wish
Bieeeeetch
skepticismlot@reddit
That’d be amazing is so.
sxfinl@reddit
Rates have been slashed twice this quarter with a prediction of 6 rate drops in the coming year. Although we’re not going to go back to pre Covid pricing hopefully it should provide some relief cost wise
valthunter98@reddit
That’s still expensive af
SassySissySayz@reddit
Where in Dallas can you get a decent 1 bedroom in a nice neighborhood for 1200?
tacolover281@reddit
Prices in my apartments are declining for sure. They try and hold the rents steady but as long as you are willing to move you can get 15-20% less per month and often times 1 free month rent as well!
Kitchen_Value_613@reddit
Another reason for me to get out of Canada and permanently settle in the USA.
tacolover281@reddit
Come on down to Texas we’d love to have you 🙌
PicklesTasteSour@reddit
Renewed earlier this year at an ok rate. Checked rates randomly a month or so ago and they’re much lower.
You can always negotiate with the apartments. Ask for a free month. $1000 gift card. Something.
Bosfordjd@reddit
I left in May 2023, my renewal would have been $1739/mo plus $40/mo in fees. For 1br 795-ish sq/ft.
I now see the same apartments are $1620/mo on their website, so looks like some easing.
lokken1234@reddit
Over the past two years they've build two separate apartment complexes in my area alone, when I drive down 635 I see new complexes in the middle of construction everywhere.
itwitchxx@reddit
I am moving to the Dallas area in about a week and will beggining looking for apartments there so this is nice to see
Holls867@reddit
That’s more than my mortgage ffs
Dick_Lazer@reddit
Transplants are fleeing after realizing what a shithole Texas is.
bluefire0120@reddit
rent is cheaper during certain times of the month. summer is the most expensive because kids arent in school, once kids are in school, parents are less likely to move mid school year. supply and demand baby, as simple as that
InsultInsurance@reddit
Call-out RealPage once... lol. It won't last.
Probably just looking to get people in and raise it later.
perduraadastra@reddit
Perhaps they're afraid of being sued for price fixing from using Realpage.
MaverickManDFW@reddit
The multifamily construction market has been booming the last two years in DFW. Investors that have spent a lot of money getting these properties ready for tenants don't have the luxury of getting top dollar. With interest rates still relatively high, these investors need revenue to start as quickly as possible so they're pricing rentals at slightly below market value. The spring and summer are usually when rental prices tend to increase, so if you can find a unit you like between now and February, you're best to grab it now and lock it in because you're not likely to see these lower prices in a year. Things will steadily increase as the Fed lowers interest rates in the future.
Brantley820@reddit
I'm moving next month and our place is listed $150 lower than what we're currently paying.
bkharmony@reddit
No.
theinfernumflame@reddit
My rent went up 15% earlier this year for the slum I live in. Can't wait to see how much more they'll demand early next year.
Kineth@reddit
Maybe they realized that if you price things to the point that no one can reliably pay, that they're gonna lose money. MAYBE. Should have been obvious from the start, but what do I know.
mattj9807@reddit
Not Dallas, but Austin metro - rents for my same floor plan are posted at about $150/month less than I renewed for in may.
NeenW1@reddit
I’m looking to move and would see units in my complex leasing for less than…I’m doing a lot of searching I think it’s disgusting what places rent for when they are anything but “luxury” 🙄🙄🙄
Emotional-Loss-9852@reddit
Yes rents are going down or at least staying flat. The DFW has been building so much that supply is actually meeting, or exceeding demand
DangItB0bbi@reddit
My apartment didn’t increase my rent when I renewed. I found it odd. I think so.
SpiritofFtw@reddit
Rents have been flat for a lot of markets for nearly a year now. But I expect that will change soon.
RealRibeye@reddit
I negotiated our rent down by $300 (2B2B) and have noticed prices decreasing in the last year. It is probably best looked at by neighborhood though.
BlackStarCorona@reddit
When I lived in downtown I found a better price somewhere, when I went to put in my notice the property manager said he’d keep my rent the same instead of raising it if I stayed. That being said, last time I looked rent in Dallas proper is more than I want to pay for smaller places.
PhillyLee3434@reddit
I think you will start seeing them inch downward at some point, in some areas you already do unless you are in like Collin County where it is still quite ridiculous.
The gouging will have to start to stall as inflation keeps people on tighter budgets, and they want tenants at any cost. All around me (McKinney) I see apartments going up, empty rental homes sitting for longer.
Aggressive-Ad-522@reddit
No
JLOBRO@reddit
Highly doubtful. This isn’t a very expansive set of statistics to make a definitive declaration one way or the other.