The renter population in Flower Mound increased a staggering 115% and rent increased by 22%.
DALLAS—DFW is home to four of the top 20 trending suburbs but which are the most popular rental markets? RentCafe.com's latest study used data from Yardi Matrix and the US Census Bureau to look into renter population changes between 2011 and 2016, and also analyze the change in rent prices during the same period to judge the impact of each suburb's popularity.
As a result, the study found Flower Mound is the third most popular market in the nation. The renter population in Flower Mound went up by a staggering 115%, while the average rent increased by 22% between 2011 and 2016.
Moreover, Allen is the eighth most popular suburb in the country, attracting renters with its economic development and job opportunities. The renter population here surged by 71%, while average rents grew by 16% during the same five-year period.
“Flower Mound and Allen are two of the most popular suburbs in Dallas metro, as well as in the US,” Florentina Sarac, RentCafe analyst, tells GlobeSt.com. “They both boast significant increases in the number of renters, rightfully occupying the third and eighth place respectively in the top 20 US trending suburbs. It's also important to point out that in 2018, the average monthly rent in Flower Mound was $1,546 (up 22% since 2014), one of the highest in our top 20. Allen renters saw their average monthly rents surge by 16% between 2014 and 2018, reaching $1,295 this past year.
The other DFW suburb in the top 10 is Burleson, with a renter population increase of 70%. The Colony also makes an appearance at number 19 on the RentCafe list, after posting a 58% boost in the renter population and a 25% five-year rent growth.
On the other end of the spectrum, Roanoke is the Texas suburb that lost the most renters (-20%), while at the same time recording a 28% rent hike between 2011 and 2016.
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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.
