What a $1000 Apartment Looks Like in Dallas, TX
Here’s the deal, we’ve never seen the market this high. This is great for Dallas because it means we’re super popular, (you hear that, Austin?) but it can be frustrating for the people who want to lease an apartment in this beautiful city. Smart City is here to explain why the market is so high, offer suggestions on how to deal with the surge, and paint you a better picture of what $1000/month will get you in each central Dallas neighborhood!
First of all, summer is a crazy time to lease apartments, mostly because we all graduated college between May and August, got trapped in a continuous 12-month lease cycle and we land right back in these expensive summer months year after year. This means everyone is scrambling to sign a lease at the same time, and simple supply and demand has taught us that this causes prices to skyrocket. A great way to end this cycle is to sign a 15 month lease term, they are usually the same price, if not cheaper. Prices are significantly easier to budget around in November/December.
Another contributing factor is all of the construction going on. While it may just seem like a bunch of orange cones and an inconvenience, luxury projects are being built that add to the value of the properties around it. We recommend checking out an area that you haven’t yet ventured into, because even though you may think you are destined to be an Uptown person, you actually may totally be happy in a sweet Knox/Henderson apartment. Your Dallas life really is what you make it and as long as you’re within 5 Uber minutes of all your favorite spots, you’ll be raking in the savings from considering that more affordable neighborhood next to your first choice.
The last three things we want people to take into consideration is to plan further out to avoid competing for the last few units left in August, to find a roommate, and to take a closer look at newer properties. We understand we’re all grown adults, but getting a roommate can save you TONS of money on rent and on top of that, you won’t have to worry about covering bills all on your own! This is where the newer property suggestion comes in. Any property built after 2009 is required to have Energy Star appliances, long story short: it cuts your bills in half. Also, brand new properties usually have INSANE specials!! If you can’t tell by our blogs, we LOVE brand new properties.
Here is what $1000 looks like in each central Dallas neighborhood:
One bedrooms starting at $900 for 543sqft.
One bedrooms starting at $999 for 501sqft.
Studios starting at $1004 for 521sqft.
Studios starting at $989 for 518sqt on a 15 month lease.
Studios starting at $966 ($1028 plus $750 off) for 532 sqft.
Studios starting at $1045 for 547sqft.