How much do households in the Dallas, TX area spend on rent?
Data updated September 16, 2024
About $1.41K, or 29.7% of their income, in 2018–2022. This is measured by comparing median rent and median monthly income for renting households.
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Comparing rent to renter income provides one measure of rental affordability.
Dallas, TX area’s median rent was about $1.41K per month in 2018–2022. Typical monthly income among renting households was about $4.74K per month during that same period.
Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates greater affordability.
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The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% of their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of median monthly income, it means a typical household would meet the definition of housing cost-burdened.
Compared to other metro areas in Texas, the Dallas, TX area had the second highest median rent and third highest median renter-household income. Out of the 25 metros in the state, the Dallas, TX area’s rent-to-income ratio ranked tenth lowest.
Dallas, TX area is a large metro. Large metros had over 1 million people. Compared to other large metros, Dallas, TX area’s rent-to-income ratio was lower than is typical. The average among large metros was 31.4% in 2018–2022, 1.7 percentage points higher than in Dallas, TX area.
