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How Much Does it Cost to Rent a Duplex in Texas

If you want to rent a home without putting a strain on your budget, renting a duplex can be a savvy decision. Duplex grants you more privacy and independence in comparison to congested apartment buildings with noisy neighbors. It provides a cozier home-like feel with your own entrance, outdoor space, and possibly a garden.

Duplexes are a bit more pricey than the apartments but much cheaper than a single-family home rental. A home inventory of the major US cities is full of duplexes, and it is quite easy to find one. Figuring out the right price is a more complicated matter. 

Rent Price Dynamic  

If you missed the recent housing market news, the United States has become a renter nation in 2018. There are more renting households than at any time in 50 years.  Home Sales are declining due to the lingering effects of the housing crisis- rising interest rates, inflated prices, and low availability in the high demand areas. 

While some former renters have moved to buy their own property, the majority does not qualify for the mortgage, cannot afford a downpayment, fees, or borrowing costs. Moreover, the millennial generation – a highly mobile workforce, is shifting from the homeowners’ mentality and increasingly prefer co-living and renting. 

Those trends drive up the rent prices each month. Despite the very modest gain in the last couple of months, rent prices were steadily on the rise over the previous 9 years. 

Texas- Exception That Proves the Rule

For the last decade, Texas, with its thriving economy, became a magnet for internal and external migration. Five out of eleven fastest-growing US cities are located in Texas. Texas provides numerous incentives for American that is looking to relocate. Among them are an abundance of good-paying jobs, low unemployment rate, and no income tax. The cost of living is also significantly cheaper than in most American metropolitan areas. 

Consequently, Texas always has a growing demand for homes, and the homeownership rate has been on the rise since 2016. Many young families are moving to Texas to afford a house and settle down. 

Despite the low housing prices, Lone Star State is picking up the national trend, and many newcomers prefer to rent. Rent prices are rising steadily, but still relatively cheap and a long way from the major urban areas. 

The occupancy rate for rental properties is high across the major cities, and Texan developers are rushing in to fill the growing demand with the build-to-rent properties.  Due to regulations and high cost of land and labor, those properties are providing a higher return on investment than entry-level homes for sale. 

Seasonal Trends  

A good way to catch an affordable rental is to time your apartment search carefully. Different times of the year are more affordable than others, and the price may experience significant variations. As a rule, the best time for a bargain is between November and March. In some Texan cities, the rent drops as much as 4.5% For Dallas and Houston; the slow season lasts from November to February. In Dallas, the peak season starts in March and lasts until August. In contrast, in Houston, the high season does not begin until May and continues through August. Spring and Summer are the worst time to shop for the rental, so if you have time to spare – wait for the winter month. 

Austin 

Average duplex rent cost: $1,515
Difference vs. previous month: -4.7%

Austin is a thriving Texan capital that boasts both the booming economy and vibrant cultural life. It is considered one of the top destinations for millennials with a walkable urban center, an abundance of entertainment venues, and high-paying tech jobs. However, it is also one of the most expensive Texan cities in terms of the cost of living. The price for the rental varies significantly, depending on the neighborhood, but on average, a one-bedroom rental will cost you $1,284 a month, while the two-bedroom rental can cost up to $1,621. If you are on a tight budget, there are even more affordable rentals available, but you have to scout the neighborhoods away from the city centers and in the surrounding suburbs. The most upscale and expensive neighborhoods in Austin are Bouldin, Downtown, and South River City. Neighborhoods such as Franklin Park, Georgian Acres, and University Hills. The most extensive inventory of duplexes for rent  is in the Bouldin Creek neighborhood. 

Dallas 

Average duplex rent cost: $1,827
Difference vs. previous month: -7.2%

Dallas, in one of the major Texan financial, industrial, and business centers that propel the growth of the entire state. There are more than 10,000 corporate headquarters in the Dallas metropolitan area, making it the city with the largest corporate headquarters concentration in the country. No wonder that corporate upstarts jacked up the price for the centrally located rentals. Another factor in the rental price is the proximity to the major transportation hubs, like the airport and DART- an extensive light rail system. The average price for a one-bedroom rental is around $1,239. The two-bedroom rental is usually on the market at $1,874. 

The most expensive Dallas neighborhoods are naturally close to Downtown: City Center District, University Park, and Oak Lawn. Cheaper rentals can be found near the outskirts of the city in Parkdale, Preston Hollow, and Southeast Dallas. The most significant duplex for rent inventory in Dallas is in the Lower Greenville area.  

Fort Worth

Average duplex rent cost: $1,320
Difference vs. previous month: -5.5%

Fort Worth, a little brother of Dallas, located right outside its city limits. Despite being just half the size of Dallas, Fort Worth shares much of its wealth and have headquarters of Fortune 500 companies, while preserving the old country vibe and Texan charm. It is ranked as one of the most livable cities with world-class art museums and entertainment venues. Despite the numerous local amenities, Fort Worth has more affordable renting prices. A one-bedroom rental cost, on average, around $1,174. The median price for the two-bedroom rental is around $1,455. Fort Worth, have communities that can satisfy any taste and budget from gentrified upscale lofts close to the city center to affordable duplexes for rent on the periphery. 

San Antonio

Average duplex rent cost: $1,008
Difference vs. previous month: -1.5%

Despite being the 7th most populous city, San Antonio is a cozy urban center with rich colonial heritage and picturesque historic cities to visit. The south-central capital has a diverse job market with jobs coming from strong financial and government sectors, as well as manufacturing and automotive. It is one of the fastest-growing metro areas with low housing prices and very affordable rent. The cheapest duplexes and apartments can be found in Denver Heights, Terrell Hills, and Thunderbird Hills. If you are craving more luxurious living -search for your new residence in the neighborhoods like Healy Murphy, Government Alliance, and Downtown. The most duplexes for rent in San Antonio are offered in the neighborhood of Tobin Hill. 

Arlington

Average duplex rent cost: $1,205
Difference vs. previous month: +1.4%

Centrally located just in between Dallas and Fort Worth, Arlington is the perfect spot for those who want to live in the busy metropolitan region, but prefer a more tranquil and suburban setting. Arlington is a common choice for a family with kids. It is also a bustling college town with the campus of the University of Texas and numerous stadiums and sports venues. The one-bedroom apartment usually goes for $938, while the two-bedroom apartment usually costs around $1,217. The most upper class and expensive dwelling you can rent located in the East and North. If you search for more affordable duplexes for rent in Arlington, research Central and South neighborhoods. 

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