Credit scores

DALLAS—Some cities are known for being red-hot when it comes to apartment prices and rental demand, but how competitive are metros such as Dallas, Fort Worth and surroundings in terms of tenant credit requirements? A recent RentCafé study of prospective tenant credit scores from screening service RentGrow shows that Fort Worth has the most credit-worthy tenants in the region.

Rental applicants who were approved for a lease in Fort Worth this year had an average score of 654, the 20th highest in the nation and second highest in Texas after Austin (659). Rental applicants who were approved for a lease in Dallas had a lower average credit score of 634 and those in Arlington had a score of 610, on average.

Credit standards for future tenants tend to be higher in class-A buildings, of course. Renters approved for a lease in a class-A building in Fort Worth and Dallas in 2017 had a whopping average score of 686 and 685, respectively. In Arlington that number was 625. Class-B buildings tend to be less demanding in terms of credit requirements, naturally. The average score of those who were approved for rent in a class-B building in 2017 in Fort Worth was 636, while the score was only 597 in Dallas and 613 in Arlington in similar class buildings, according to the study.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.