Dallas, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Dallas, TX Housing Market Trends

With 1,304,379 people, 524,498 houses or apartments, and a median cost of homes of $287,441, Dallas real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Dallas, accounting for 46.15% of the city's housing units. Other types of housing that are prevalent in Dallas include single-family detached homes ( 42.78%), duplexes, homes converted to apartments or other small apartment buildings ( 6.30%), and a few row houses and other attached homes ( 3.64%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Dallas primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Dallas has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Dallas built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Dallas built between 1940-1969 ( 31.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.06%). There's also some housing in Dallas built before 1939 ( 5.16%).

Dallas Home Appreciation Rates

In the last 10 years, Dallas has experienced some of the highest home appreciation rates of any community in the nation. Dallas real estate appreciated 118.16% over the last ten years, which is an average annual home appreciation rate of 8.11%, putting Dallas in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Dallas definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Dallas that despite a nationwide downturn in the housing market, Dallas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dallas appreciation rates continue to be some of the highest in America, at 21.40%, which is higher than appreciation rates in 77.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dallas. Dallas appreciation rates in the latest quarter were at 8.76%, which equates to an annual appreciation rate of 39.94%.

Importantly, this makes Dallas one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Dallas's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Dallas differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Dallas - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Dallas real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$287,441

Dallas, TX HOME PRICES

> $1,362,000
3.5%
3.5%
$1,021,001 - $1,362,000
3.0%
3.0%
$681,001 - $1,021,000
8.3%
8.3%
$545,001 - $681,000
6.9%
6.9%
$409,001 - $545,000
9.4%
9.4%
$272,001 - $409,000
14.2%
14.2%
$136,001 - $272,000
30.6%
30.6%
$68,001 - $136,000
18.0%
18.0%
$0 - $68,000
6.1%
6.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for TX

Value Relative To Nation

Number Of Homes And Apartments:
524,498

Dallas Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
179.01% 4.77%
8
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,574 / per month

Homeownership Rate

Owners
40.8%
40.8%
Renters
59.2%
59.2%
Vacant
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.1%
19.1%
1970 - 1999
44.4%
44.4%
1940 - 1969
31.4%
31.4%
1939 or Older
5.2%
5.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
42.8%
42.8%
Townhomes
3.6%
3.6%
Small Apt. Buildings
6.3%
6.3%
Apt. Complexes
46.2%
46.2%
Mobile Homes
1.1%
1.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.0%
4.0%
1 Bedroom
27.3%
27.3%
2 Bedrooms
28.8%
28.8%
3 Bedrooms
27.5%
27.5%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES