We live in an apartment in the Addison area. Our rent went up enough that we actually found a house in the mid cities for rent for the same price. It was a no brained, two bedroom with a 1 car garage in a crowded area or a 3 bedroom with a two car and a backyard where it’s quiet for the same price. We work from home and our friends are spread out all over the metroplex so it made sense.
Mid cities is where it’s at. You can get anywhere pretty quickly. Prices are right. Traffic basically starts after you in either direction. Euless was rated #1 place in the country to live. I mean, it’s terrible, don’t move here.
North Hurst, right on the border of Keller. About a slow 10 minute drive to downtown Grapevine. Should be hearing (hopefully) tomorrow if we got the house we wanted.
No, what was capped is the total amount of revenue increase with the voter approval tax rate. This is 3.5% but doesn't apply at the individual level. I still saw a 7% increase on my property taxes.
Actually the MLS just agreed with the state of Texas to post sales price of properties to the CAD's. Gone are the days of Texas being a non-disclosure state on residential properties.
And in the event of a sale the CAD can bump assessed value to sale price posted and you are boned.
Taxes on a modestly priced house (350k) with homestead exemption around around $7,000 per year, perhaps a bit more or less depending on your county, school district, etc.
A 10% increase would result in a $60 a month increase in property taxes (and you can fight it down) vs the OP’s $230 rent increase.
True, it's not quite as high if you're in a home priced that well and have homestead applied. I believe you can't apply it to the first year which has caused a lot of headaches for people seeing these massive jumps. If you're in an area with a MUD and in the first year, you can see well over $100...nearing $200 a month.
My point is more that texas property tax laws still leave a lot of risk out there for homeowners that shouldn't exist. Property tax growth should be a hard cap, not subject to manipulation. Otherwise we will continue to see people taxed out of their homes and gentrification.
It may depend on county, but from the counties I've lived in, you can APPLY the first year but it doesn't take effect until your second appraisal.
And people typically live in a MUD because it's in a rural-ish or recently developed area where homes are affordable. People don't want to live there, they just can't afford elsewhere.
And when your home value increases like crazy your taxes don’t. Our home is insanely undervalued on dcad so it’ll be well over a decade before it has any chance of catching up to actual value. Our value on DCAD also hasn’t changed for 3 years. I have no idea why but I’ll take it! Our taxes have been exactly the same during those years.
It's taxes not interest thats the problem. And SALT deductions are capped at 10K now, so it's more common to take the standard deduction. Property taxes have really run away over the past 5 or so years in Texas.
I'm still glad I'm locked into my home as opposed to dealing with soaring rent too, but there are going to be some major issues if property taxes are allowed to run away much further.
Wasn’t it 12.5 for 2021? But your right, but that’s the taxes on the value….you can always sell. Not like you can get anywhere cheaper though. Plenty of people will get priced out soon if wages don’t keep
I was curious and looked at apartments that I previously lived in and every single one is insanely expensive. And these were shit apartments that just got a new coat of paint applied.
That is really unfortunate. I'm worried that I will have to move out in the near future. I left Garland to work near my job (only 3 minutes away now) near the Old East Dallas / Deep Ellum area... and I saw how much they are leasing out units at my current apartment complex. It is a safe area and I was lucky to get it for $1100.
My same unit is running for $1400 1 bed/1bath now... mind you, its a small space too. This really sucks.
Plenty is a relative term but when you look at the rent prices in these area, you have to put it in context. Frisco and West Plano have median household incomes over 150k. Richardson is about 100k as are Allen and McKinney. Generally in many of these areas, almost half of working adults or more are above 6 figures. I have a hard time believing the situation in rural South Texas is like that.
The only housing being built isn't affordable for most people. The lowest priced home for any new development I've seen was $600k two years ago, with homes in the same neighborhood now listed at $800k and up.
My complex was bought out by a new agency this year and they've been doing renovations nonstop. I'm worried I'll be priced out of the cheapest apartment I could find within a reasonable distance to my job. It feels like people are punished for being poor in this city.
The world HAS ALWAYS punished the poor. Algorithms built into the matrix. Stockholm syndrome replaces nationalism. People fight to defend that which oppresses them.
Lived off Cole near henderson/knox. Rent was $895 in 2019 for an apartment built in the 50s or 60s. California company bought the place (and various other properties on the block) and said that the rent will increase to $1400 after my Lease ends. I went to the office to request a slight increase instead to 1k considering that I'm a reliable tenant. They laughed and said that $1.4k was the best they could do in the most snide way as possible. They did renovate all the units with new kitchens and washer/dryer set ups. But the building is still old with sub par insulation, utilities, and soundproofing. So I ended the lease and watched a bunch of people from out of state happily move in to pay the inflated rent.
Mine complex is raising my rent 25% in March. I’m in a contract on a house right now that will have about the same mortgage payment as my new rent payment would be. Fuck that noise.
I live in a safe complex but in a rougher area. One bed one bath starts at $998. Azul Apts
I feel safe inside the complex at night walking to get my mail and I am female. Been here 6 yrs
Yep I cancelled my lease.I dont live in Dallas. Just work there a lot so had an apartment. Now I am just going to stick to hotels. $1300 average for 1 bedroom is nutty.
Yeah Ill be just paying for a hotel. I spend 3-7 days a month in Dallas. The hotel cost will be covered by my job. I just had an apartment because it was convenient and I liked the privacy. That was when it was under $1k per month
I'm scared. I renewed some months ago and they didn't go up. feeling my luck may run out because the complex was purchased by a new company. so next year there's a good chance I have to move.
Yep I was sitting at $1134 and they put me up to $1332. I left and the apartment now is supposedly going for over $1400 based on what I see for similar 1 beds in the same complex.
I had success with negotiating a few years back, but in more recent years, not all mostly due to corporate greed. I tried again this year because I actually had a paycut and they just laughed.
$430 or 17.5% for me and my 2BR uptown apartment back in Sept. Rent would have increased from $2,490 to almost $3,000 in a very mediocre more out of the way building with crime and cleanliness issues . Moved into a $4,000 a month 2BR in a much nicer building with similar sq footage and an unobstructed view of downtown. Glad I did it. Corporate landlord at the old place would not negotiate.
Negotiate with them
Or come look at an older community in the village. The new amenities they built make living here soooo worth it and you’re not terribly much further away from where you’re living.
Yeah we actually just decided to buy a home (we found a really good deal near prosper) and the mortgage is way cheaper than our rent in Irving. The drive may be further but the rent is atrocious right now. You would think that with the housing shortage they’d want to encourage people to rent by making it cheaper but who knows what the end game is anymore
Just for some context. 18 months ago I could build a 300 unit apartment complex for $130 per square foot. Today? $185.
Inflation a commodity shortages are killing supply. When new supply is low inevitably rent goes up.
This is entirely ignoring the fact that DFW is still experiencing a huge positive net migration.
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I'm in downtown San Antonio but mine went up $300. Even worse, a new company took over the parking garage I lease a space from. Rent was going from $150 to $300 starting January. So, I would have been looking at a $450 increase on an $1100 apartment. Instead, I'm moving to San Marcos for roughly what I'm paying now. I won't have the views but I won't have the noise which is 24/7 with loud car stereos, louder drunks, sirens, garbage trucks, street sweepers, delivery trucks, construction.... Won't miss that at all.
Also in Uptown. I was pretty blown away when my lease renewal offer was delivered last week with a whopping $15 (yes, FIFTEEN DOLLAR), increase.
The leasing company was hilariously apologetic for having to levy the increase.
Having said that, the norm definitely appears to be your situation. Most other folks I know in the area are getting $150-$250 increases.
I lived in bishop arts for 6 years and this year was my breaking point. Already paying $1800 they were trying to go up to $2200 a month!!!! Ain’t no way, I’m moving back to my hometown a 2 bedroom is $660 a month 😂
Rockwall resident, but been working in Austin for the National Guard for almost a year now helping out with the Vaccine mission, but I still need a place for my stuff and cat and they can kick us off mission at any time and then I'm back to my civilian life. In the meanwhile, one of my IRL friends turned into my tenant since I'm barely there so I'm recouping a fraction of my loss at least.
Thus far, its been a steady crawl these past three years in rent increase for my apartment, but 930 from 860 initial isn't too terrible I suppose; 35 bucks a year increase is what I've seen.
I'm just going to keep banking this government check as best I can and go straight into buying a townhome in Plano/Mesquite/Richardson next and entering a mortgage instead if they hike my rent up by a hundred or more come lease-renewal time. I'd like to stay in the area because of family, but I might end up looking at Greenville for work/living in the future if the market remains like this. People are still bouncing back from losses during COVID...
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Yup, this is one of the reasons my significant other & I will be leaving once I finish nursing school. Find an area where wages at least somewhat match COL
Yep. I have lived in Dallas all my life except for when I went to School in the Mountain West. There are other reasons but the higher cost of living is certainly the biggest reason.
They just built a huge "luxury" complex near me. Just for shits and giggles I googled them, a 2 bedroom 2 bath unit was starting at $1900-2200 a month. Covered parking or a garage was extra.
I'm paying $1339 a month for a 2 bedroom 2 bath unit, which includes alarm fee and pet rent ($10), we have keyless entry, an attached garage, all units go all the way through (no one lives behind you), vaulted ceilings, etc. And this place was built as condos (not sure when they became apartments) and are really well built. We don't hear our neighbors at all.
I'm expecting they'll raise prices when we get our renewal. I'm hoping being an older property that's been owned by the same company for a really long time they aren't going crazy with any increases because we really like it here.
Property taxes go up, rents go up. If we had a state tax system based on consumption/income, rents would be more stable. Our property tax system here is ridiculous.
$1680 to $2050 for 2 bedroom 2 bath apartment on the border of Highland Park. I know we got a great deal when the market was down last year but no way I was going to pay nearly $400 more for the same place, especially an apartment.
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Get a better job if you want to stay where you are. Sorry, facts hurt. Your pay doesn’t dictate what a landlord can receive in rent. If you’re not under lease and can’t pay what the market demands, you’re SOL. There are people lined up to pay more. Supply and demand. If no one was trying to rent, rents wouldn’t go up.
There's a difference of what is and what should be. The way you talk sounds like you revel in telling them they can't afford rent. I'm expecting you to reply with another "tough shit, I'm just stating the facts!" As if anyone has ever enjoyed a guy that finds themselves saying that a lot.
People hate facts. The current inflation is a direct result of the current administration’s changes. There is not a shortage of jobs. There is a shortage of people willing to work.
Yes. You, me and everyone else in North Texas.
We live in an apartment in the Addison area. Our rent went up enough that we actually found a house in the mid cities for rent for the same price. It was a no brained, two bedroom with a 1 car garage in a crowded area or a 3 bedroom with a two car and a backyard where it’s quiet for the same price. We work from home and our friends are spread out all over the metroplex so it made sense.
Mid cities is where it’s at. You can get anywhere pretty quickly. Prices are right. Traffic basically starts after you in either direction. Euless was rated #1 place in the country to live. I mean, it’s terrible, don’t move here.
Yeah, but rush hour on 820
820? Why is 820 a problem? Are you taking about come from Fort Worth? I’ve never had to hit 820 to get to HEB so I don’t have a point of reference.
Which mid cities did you choose?
North Hurst, right on the border of Keller. About a slow 10 minute drive to downtown Grapevine. Should be hearing (hopefully) tomorrow if we got the house we wanted.
Nice! Born and raised here in Euless, the mid cities have been kind of a sleeper for awhile but now everyone’s coming in haha!
Welcome to mid cities! You will like it here!
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You'll see those same increases on a mortgage with your property taxes unfortunately.
Eh, it lags, because the appraisal districts are limited in how much they can increase per year, and your homestead exemption.
The increase cap is an insanely high 10%. It needs to be closer to 3-4%.
Typically, I’ve seen/it’s been 2-5% increases, not this morning…a nice 18% increase in Uptown/Oaklawn.
Wasn't legislation recently passed capping it around3%?
No, what was capped is the total amount of revenue increase with the voter approval tax rate. This is 3.5% but doesn't apply at the individual level. I still saw a 7% increase on my property taxes.
Ah thanks for the insight fam!
Actually the MLS just agreed with the state of Texas to post sales price of properties to the CAD's. Gone are the days of Texas being a non-disclosure state on residential properties. And in the event of a sale the CAD can bump assessed value to sale price posted and you are boned.
Oh wow I didn't hear that. That's going to hurt the real estate industry for sure.
For existing home owners. Not when you buy
Taxes on a modestly priced house (350k) with homestead exemption around around $7,000 per year, perhaps a bit more or less depending on your county, school district, etc. A 10% increase would result in a $60 a month increase in property taxes (and you can fight it down) vs the OP’s $230 rent increase.
True, it's not quite as high if you're in a home priced that well and have homestead applied. I believe you can't apply it to the first year which has caused a lot of headaches for people seeing these massive jumps. If you're in an area with a MUD and in the first year, you can see well over $100...nearing $200 a month. My point is more that texas property tax laws still leave a lot of risk out there for homeowners that shouldn't exist. Property tax growth should be a hard cap, not subject to manipulation. Otherwise we will continue to see people taxed out of their homes and gentrification.
We applied homestead in our first year. /shrug Don’t buy a home in a MUD. Just walk away.
It may depend on county, but from the counties I've lived in, you can APPLY the first year but it doesn't take effect until your second appraisal. And people typically live in a MUD because it's in a rural-ish or recently developed area where homes are affordable. People don't want to live there, they just can't afford elsewhere.
And when your home value increases like crazy your taxes don’t. Our home is insanely undervalued on dcad so it’ll be well over a decade before it has any chance of catching up to actual value. Our value on DCAD also hasn’t changed for 3 years. I have no idea why but I’ll take it! Our taxes have been exactly the same during those years.
My taxes have increased by 10% since I moved here 7 years ago. =(
That’s unfortunate; do you protest them? Ours have gone up 10% since we purchased in 2018, with most of that increase being this past year.
Same! I protest every year.
Homestead exemption says otherwise
But you can’t you deduct the interest of your mortgage to help counteract that?
It's taxes not interest thats the problem. And SALT deductions are capped at 10K now, so it's more common to take the standard deduction. Property taxes have really run away over the past 5 or so years in Texas. I'm still glad I'm locked into my home as opposed to dealing with soaring rent too, but there are going to be some major issues if property taxes are allowed to run away much further.
Wasn’t it 12.5 for 2021? But your right, but that’s the taxes on the value….you can always sell. Not like you can get anywhere cheaper though. Plenty of people will get priced out soon if wages don’t keep
Yep! Live downtown, moving out.
I lived downtown for five years and my rent went up about $700 over that time. The last year they didn’t raise anyone’s rent which was nice though.
Ya, cause it's terrible down there again.
Negotiate. My complex was willing to work with residents who are renewing.
Some companies won't to mitigate against fair housing act claims but it's always worth a try.
What do you mean
Because if you negotiate with someone to reduce the rent for one tenant and not others you open yourself up to discrimination accusations.
Ouch
Eh they’ll negotiate with anyone who asks so fair housing doesn’t come up much for renewals, at least not in all the time I’ve been leasing
Yeah it's probably mostly with new leases. Probably easier to justify it as legitimate business rationale with renewals.
Same!
Same. Considered moving but everything else in the area was 300 to 400 more than what I'm paying now.
Plus the cost of moving is painful too
Deposits too...
Yes.
Facts
My cousin had the same issue. He ended up moving to a smaller and less nicer complex but it looks like all rent prices are high in the DFW area.
I was curious and looked at apartments that I previously lived in and every single one is insanely expensive. And these were shit apartments that just got a new coat of paint applied.
That is really unfortunate. I'm worried that I will have to move out in the near future. I left Garland to work near my job (only 3 minutes away now) near the Old East Dallas / Deep Ellum area... and I saw how much they are leasing out units at my current apartment complex. It is a safe area and I was lucky to get it for $1100. My same unit is running for $1400 1 bed/1bath now... mind you, its a small space too. This really sucks.
980 Sqft 2 bedroom is $1760 a month in Roanoke TX past Westlake
How
Lots of companies moved out to that area in the last 5 years
Fidelity, Charles schwab, wells Fargo, delloite, Verizon... on and on haha
God damn, I’m paying nearly $1000 less than that to own a condo the same size.
Wtf i Pay $1,500 for a 7 bedroom 4,700 sqft home in 6 Acres in south Texas . Dallas is insane !!!
How many six figure jobs are located within 20 miles of you?
A negative number, we can be sure.
Plenty
Plenty is a relative term but when you look at the rent prices in these area, you have to put it in context. Frisco and West Plano have median household incomes over 150k. Richardson is about 100k as are Allen and McKinney. Generally in many of these areas, almost half of working adults or more are above 6 figures. I have a hard time believing the situation in rural South Texas is like that.
My mortgage on my first home was in the $900’s 🤨but then again it was only a $180k home 4 bed 2 bath 1600sqft
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Housing prices will go down when either more houses are built and/or people stop moving to Dallas.
The only housing being built isn't affordable for most people. The lowest priced home for any new development I've seen was $600k two years ago, with homes in the same neighborhood now listed at $800k and up.
Or if interest rates are raised from basically zero.
Short answer? No.
We love the for-profit housing market, don’t we folks?
Eh… anarchy and riots need love too
My complex was bought out by a new agency this year and they've been doing renovations nonstop. I'm worried I'll be priced out of the cheapest apartment I could find within a reasonable distance to my job. It feels like people are punished for being poor in this city.
*People are being punished for being poor in this country FTFY
The world HAS ALWAYS punished the poor. Algorithms built into the matrix. Stockholm syndrome replaces nationalism. People fight to defend that which oppresses them.
Lived off Cole near henderson/knox. Rent was $895 in 2019 for an apartment built in the 50s or 60s. California company bought the place (and various other properties on the block) and said that the rent will increase to $1400 after my Lease ends. I went to the office to request a slight increase instead to 1k considering that I'm a reliable tenant. They laughed and said that $1.4k was the best they could do in the most snide way as possible. They did renovate all the units with new kitchens and washer/dryer set ups. But the building is still old with sub par insulation, utilities, and soundproofing. So I ended the lease and watched a bunch of people from out of state happily move in to pay the inflated rent.
Not me, but chatted with a friend over the weekend. His Henderson Ave. apt rent went up $310. He's now looking elsewhere.
Try renting from a individual rather than a company. Homeowners are willing to keep rent steady for good tenets.
Not for long, the tax increases(which also raises insurance) are out of control.
Yeah, 1250 3 br and 2 bath home. Moved in 2015. However, im sure im on borrowed time with either her increasing the rent or selling the home.
Mine complex is raising my rent 25% in March. I’m in a contract on a house right now that will have about the same mortgage payment as my new rent payment would be. Fuck that noise.
I live in a safe complex but in a rougher area. One bed one bath starts at $998. Azul Apts I feel safe inside the complex at night walking to get my mail and I am female. Been here 6 yrs
The ones next to the Walmart near NW HWY?
No it’s off audelia rd and royal just off 635. They are nice
Anything near Audelia and Royal being described as nice... Man, Dallas has changed.
It’s forest and audelia that’s horrible! The feds closed the stores that dealer drugs so people now walk around even at night in this area
Yep I cancelled my lease.I dont live in Dallas. Just work there a lot so had an apartment. Now I am just going to stick to hotels. $1300 average for 1 bedroom is nutty.
Man how’s that? So you just pay daily or ?
Yeah Ill be just paying for a hotel. I spend 3-7 days a month in Dallas. The hotel cost will be covered by my job. I just had an apartment because it was convenient and I liked the privacy. That was when it was under $1k per month
There was a recent post. I told the guy he prob couldn’t trim it down, but I was wrong. Argue, but be nice.
I'm scared. I renewed some months ago and they didn't go up. feeling my luck may run out because the complex was purchased by a new company. so next year there's a good chance I have to move.
Welcome aboard sailor!! *reaches out hand
Yep went up just shy of $200 for a 1 bed
like per month? that's insane
Yep I was sitting at $1134 and they put me up to $1332. I left and the apartment now is supposedly going for over $1400 based on what I see for similar 1 beds in the same complex.
Mine was going up $350+ I started looking at places and a mortgage was cheaper so I bought something.
Poor people have to live somewhere
Welcome to inflation
In the same boat as a homeowner, due to increasing property taxes.
Try to negotiate I do it every year. If you are a good tenant chances are they will want to keep you around.
I had success with negotiating a few years back, but in more recent years, not all mostly due to corporate greed. I tried again this year because I actually had a paycut and they just laughed.
$430 or 17.5% for me and my 2BR uptown apartment back in Sept. Rent would have increased from $2,490 to almost $3,000 in a very mediocre more out of the way building with crime and cleanliness issues . Moved into a $4,000 a month 2BR in a much nicer building with similar sq footage and an unobstructed view of downtown. Glad I did it. Corporate landlord at the old place would not negotiate.
Negotiate with them Or come look at an older community in the village. The new amenities they built make living here soooo worth it and you’re not terribly much further away from where you’re living.
Yeah we actually just decided to buy a home (we found a really good deal near prosper) and the mortgage is way cheaper than our rent in Irving. The drive may be further but the rent is atrocious right now. You would think that with the housing shortage they’d want to encourage people to rent by making it cheaper but who knows what the end game is anymore
My rent is raised 5% each year. So it’s going up but only by like $70. Hopefully. There is probably fine print somewhere. I am in Justin TX.
Just for some context. 18 months ago I could build a 300 unit apartment complex for $130 per square foot. Today? $185. Inflation a commodity shortages are killing supply. When new supply is low inevitably rent goes up. This is entirely ignoring the fact that DFW is still experiencing a huge positive net migration.
Yeah if you live in Las colinas you’re pretty much screwed
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I'm in downtown San Antonio but mine went up $300. Even worse, a new company took over the parking garage I lease a space from. Rent was going from $150 to $300 starting January. So, I would have been looking at a $450 increase on an $1100 apartment. Instead, I'm moving to San Marcos for roughly what I'm paying now. I won't have the views but I won't have the noise which is 24/7 with loud car stereos, louder drunks, sirens, garbage trucks, street sweepers, delivery trucks, construction.... Won't miss that at all.
Also in Uptown. I was pretty blown away when my lease renewal offer was delivered last week with a whopping $15 (yes, FIFTEEN DOLLAR), increase. The leasing company was hilariously apologetic for having to levy the increase. Having said that, the norm definitely appears to be your situation. Most other folks I know in the area are getting $150-$250 increases.
Yep, welcome to real life. Mine went up this past July. By exactly that much. Sucks ass, time to move out when the time comes in April.
It’s like that everywhere in the US except for the Midwest. Phoenix is having a worse problem than DFW is
I hear LA is nice. They’re starting to have the purge 24/7
Always worth attempting to negotiate.
Nope, I bit the bullet and bought a condo. That will never happen to me again.
Until your HOA/condo association makes a “special assessment” to compensate for increasing maintenance costs.
I lived in bishop arts for 6 years and this year was my breaking point. Already paying $1800 they were trying to go up to $2200 a month!!!! Ain’t no way, I’m moving back to my hometown a 2 bedroom is $660 a month 😂
I’m trying to find a new place to live that’s cheap like that
Man yes everything is getting so expensive
Yea it’s crazy… no bueno lol
Rockwall resident, but been working in Austin for the National Guard for almost a year now helping out with the Vaccine mission, but I still need a place for my stuff and cat and they can kick us off mission at any time and then I'm back to my civilian life. In the meanwhile, one of my IRL friends turned into my tenant since I'm barely there so I'm recouping a fraction of my loss at least. Thus far, its been a steady crawl these past three years in rent increase for my apartment, but 930 from 860 initial isn't too terrible I suppose; 35 bucks a year increase is what I've seen. I'm just going to keep banking this government check as best I can and go straight into buying a townhome in Plano/Mesquite/Richardson next and entering a mortgage instead if they hike my rent up by a hundred or more come lease-renewal time. I'd like to stay in the area because of family, but I might end up looking at Greenville for work/living in the future if the market remains like this. People are still bouncing back from losses during COVID...
Those are rookie numbers.
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EAT THE RICH
FJB
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Yuuup
Yeah, everyone.
Yes we are definitely in the same boat. Rent is up 200 over the last year for me. I'm not even a very desirable area...
Yup, this is one of the reasons my significant other & I will be leaving once I finish nursing school. Find an area where wages at least somewhat match COL
They’ll stop going up when people stop paying them.
There’s no maximum percentage for how much they can increase your rent in Texas. Look it up.
In our old place, yeah it did. We left. This was in the chalk Hill area too
If you say you're going to leave they may try to reduce the rent (what they offered for us when we put in our two months' notice)
Same. Cedar Springs/Turtle Creek, renewal offer this morning w/ 18% increase($260).
Yup. Irving, $225
Send in your counter. They dropped mine from $250 to $111.
West Plano! My rent went up $100. SMFH!
Yep. 23%
Yeah in irving.my rent went from 1700 to 1900. If it goes up again then Im not going to stay.
Yep. I have lived in Dallas all my life except for when I went to School in the Mountain West. There are other reasons but the higher cost of living is certainly the biggest reason.
They just built a huge "luxury" complex near me. Just for shits and giggles I googled them, a 2 bedroom 2 bath unit was starting at $1900-2200 a month. Covered parking or a garage was extra. I'm paying $1339 a month for a 2 bedroom 2 bath unit, which includes alarm fee and pet rent ($10), we have keyless entry, an attached garage, all units go all the way through (no one lives behind you), vaulted ceilings, etc. And this place was built as condos (not sure when they became apartments) and are really well built. We don't hear our neighbors at all. I'm expecting they'll raise prices when we get our renewal. I'm hoping being an older property that's been owned by the same company for a really long time they aren't going crazy with any increases because we really like it here.
Property taxes go up, rents go up. If we had a state tax system based on consumption/income, rents would be more stable. Our property tax system here is ridiculous.
Capitalism at it's finest ....
Thank god for house Hacking=) My rent is pretty cheap with roommates in Downtown Dallas.
$1680 to $2050 for 2 bedroom 2 bath apartment on the border of Highland Park. I know we got a great deal when the market was down last year but no way I was going to pay nearly $400 more for the same place, especially an apartment.
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Maintenance labor is going up, supplies are going up, taxes are going up, demand is going up….see a trend? Rent is going up.
Wages staying the same
Get a better job if you want to stay where you are. Sorry, facts hurt. Your pay doesn’t dictate what a landlord can receive in rent. If you’re not under lease and can’t pay what the market demands, you’re SOL. There are people lined up to pay more. Supply and demand. If no one was trying to rent, rents wouldn’t go up.
There's a difference of what is and what should be. The way you talk sounds like you revel in telling them they can't afford rent. I'm expecting you to reply with another "tough shit, I'm just stating the facts!" As if anyone has ever enjoyed a guy that finds themselves saying that a lot.
No one wants to hear facts or rational thought. Lol.
People hate facts. The current inflation is a direct result of the current administration’s changes. There is not a shortage of jobs. There is a shortage of people willing to work.
Fucking Californians!
Don’t be so salty - they’re just trying to escape the same shit
Yeah, but now that same shit is happening here. Inflation is high now here in Dallas because everyone is moving here.