The Rise of Suburban Renters in Dallas-Fort Worth
Three years ago, a new job at Advanced Micro Devices in Plano brought Samuel Owens and his family to Dallas-Fort Worth, and they needed a new home.
“I started with Plano and just circled out from there, trying to stay within a roughly 60-minute-or-less commute time,” Owens said. “There are definitely more apartments that are in my price range, but we were hoping to get an actual home.”
Owens, 41, said the family ultimately settled down in Princeton, where he pays around $2,000 a month in rent for a 1,600-square-foot home.
Samuel and Abigail Owens look on as 6-year-old Oren and 10-year-old Micah play outside their home in Princeton, Texas, on June 27, 2025.(Jason Janik / Special Contributor)
The Growing Trend of Suburban Renters
The Owenses are among the growing number of households that are turning to renting in suburban Dallas, possibly reflecting a deeper issue: The metroplex’s shortage of affordable homes and the mounting barriers to homeownership.
According to a new analysis, D-FW claimed four of the five fastest-growing suburban rental markets in the country between 2018 and 2023.
D-FW also saw the greatest disparity between growth in urban and suburban renters among the nation’s metros, according to the analysis by Point2Homes, a rental market research firm.
Its analysis shows that between 2018 and 2023, the number of renter households in the city of Dallas grew by about 8%, while the surrounding suburbs saw an 18% increase.
Challenges Facing Homebuyers
Amy Hanson, a North Texas real estate agent whose company manages rental properties in Dallas and Collin counties, said she has seen a rise in renters, as well as greater investments in rental properties and more build-to-rent developments in the area.
“A lot of these people still have the dream of homeownership. They want to buy their house and stake their flag in the dirt,” said Hanson, who is also the president of the National Association of Residential Property Managers.
“But a lot of people are very nervous about the economy,” she said. “They are nervous about inflation. They are nervous about interest rates.”
The Impact of High Home Prices
The D-FW market is “stuck in the middle,” said Jennifer Parker, president of the Collin County Area Realtors. She said the classification means a mismatch between the supply and demand of homes — while the inventory is growing, most properties entering the market are not at a price that first-time homebuyers can afford.
The median home price in Collin County was $485,000 in May, according to data from Texas Realtors.
That might be out of reach for the typical household in the D-FW area, where the household income is around $87,000 in 2024, according to data from the U.S. Census Bureau.
The metro area is short 13,500 listings affordable to households making $100,000 or less annually, says a report last month from the National Association of Realtors.
Consequences of the Rental Market Surge
The surge in suburban renters has also alarmed affordable housing advocates across the state.
Bryan Tony, the executive director of Dallas Housing Coalition, said the disparity of the growth in renting between Dallas and the rest of D-FW is a major concern.
The exodus of residents from Dallas to the suburbs in search of cheaper homes for sale and, increasingly, to rent underscores the need for the city to create more affordable housing, said Tony, whose group advocates for affordable housing across the region.
A Call to Action
A continuation of this trend, he added, could also risk the city’s status as the “economic engine” of the region, as more companies relocating to the area choose suburbs rather than in the city.
“I think it should be a little bit of a wake-up call for the city of Dallas,” Tony said.
The high cost of homeownership is also keeping higher-income households in the rental market, said Ben Martin, the research director for Texas Housers, a nonprofit advocacy group for low-income families in search of affordable housing.
Conclusion
For Owens and his family, homeownership remains elusive. Even with home prices trending downward, high interest rates and the struggle to save for a down payment still pose significant challenges, he said.
He said he plans to continue renting while keeping an eye on the real estate market, with the goal of eventually purchasing a home.
“I know I’m paying somebody else’s mortgage right now, but I think I’m going to stick with that, see if I can clear out some other obligations and just keep trying to build towards a down payment, maybe for a time when the housing market cools off a little bit,” he said.
Frequently Asked Questions
What is the current state of the rental market in Dallas-Fort Worth?
The rental market in Dallas-Fort Worth is experiencing a surge in suburban renters, with a growth rate of 18% between 2018 and 2023, outpacing the growth rate in urban areas.
What are the challenges facing homebuyers in the D-FW area?
Homebuyers in the D-FW area face challenges such as high home prices, limited affordable housing options, and rising interest rates, making it difficult for them to purchase a home.
What is the impact of the rental market surge on affordable housing?
The surge in suburban renters has alarmed affordable housing advocates, as it underscores the need for more affordable housing options in the city and the potential for higher-income households to crowd out low-income renters.
What can be done to address the affordable housing crisis in Dallas-Fort Worth?
To address the affordable housing crisis, the city of Dallas and surrounding suburbs need to create more affordable housing options, including rental properties and homes for sale, and implement policies that support affordable housing development and preservation.
