Move Over Dallas: Renters Heading for Irving, Lewisville and Denton

New studies appear to confirm what many of us already knew: in Dallas, the rent is too damn high.

Texas is the most popular destination for state-to-state moves, according to new research by analysts at StorageCafe, a nationwide storage space marketplace. Irving and Lewisville are the top two cities in the United States for drawing in and retaining renters. Most of those headed to the No. 1 city, Irving, are from Dallas.

Dallas is less appealing to millennials when compared with the surrounding cities, the study shows.

"This generation especially, with young families and careers in full flow, are preferring Big D's nearby feeder towns," StorageCafe wrote.

Dallas placed at No. 17 in terms of attracting and keeping renters, one space ahead of Austin, according to the study. When renters in Dallas fly the coop for another Texas town, they most often resettle in Irving, Plano and Arlington.

StorageCafe analysts sorted through 3.4 million rental applications from last year to determine renter interest. They also factored in demographics and shifts in the square footage of homes and median income.

As a college town, Denton's universities probably have something to do with the fact that it's popular among Gen Z renters. Of those looking to rent in Denton, more than 40% were 25 or younger, and Little D boasts the biggest proportion of Gen Zers when compared with other North Texas cities. (Nationwide, Denton placed at No. 24 top city for renters overall.)

Smaller cities are arguably less exciting, but home-hunters benefit from added space. On average, New York City renters gain 18% more living space when they leave the East Coast for Irving.

Meanwhile, new data on Dallas market trends indicate just how much higher rent has climbed. From this time last year, rent prices have gone up between 20% and 58%, according to the apartment search engine Rent.com.

Studio apartments have increased by 20%, with the average rent clocking in at $1,572. These days, three-bedroom apartments are up 58% with the typical cost hovering around $2,610.

At the same time some Dallasites are struggling to keep a roof over their heads, inflation is spiraling out of control. Price surges in necessities such as gas and food are hurting people in Texas and beyond, especially low-income families.

Meanwhile, eviction filings have skyrocketed to the highest level since the coronavirus pandemic first hit the Lone Star State, according to The Texas Tribune. Rising prices and dwindling federal rent assistance is forcing some out of their homes.

Dallas ranks among the top five cities for weekly evictions, and so do Fort Worth and Houston. According to Princeton University's Eviction Lab, eviction filings as of April 9 in Dallas are up 93% from average.