Many look to move at the beginning of the year, and with home prices still high, renting is the most popular option. But where are these people moving? According to a recent study, Plano is the third most popular place for renters to move in Texas. But Dallas came in on top.
The study by Rent Cafe showed that Dallas is the number one most sought-after location in Texas. However, the North Texas city isn’t very popular overall, coming in at 33rd place and ninth in the South.
In January, renters showed a 61% surge in their interest in Dallas apartments compared to the previous year, highlighting a notable uptick in demand for rentals in the area. Those seeking apartments in Dallas on RentCafe.com increased their saved searches by 7% compared to January last year.
Notable attention from renters so far this year also went to Grand Prairie (second in Texas) and Plano (third in Texas) in the state. In contrast, Fort Worth falls considerably lower in the analysis, ranking at #122 out of 150 cities.
In the ranking of rental activity for January, the West led with 11 cities, followed by the Midwest with nine cities and the South with seven entries. The Northeast accounts for the remaining three cities on the list. The Midwest and South boasted the highest number of cities among the top 10 most sought-after places for renters in January, with three each.
Minneapolis clinched the top position, witnessing a large increase in online activity from residents and renters in Chicago, Dallas and St. Paul, MN. Page views soared by an impressive 159% compared to the previous January.
To create this report, Rent Cafe examined rental listing data from the 150 most populous cities in the U.S. via the U.S. Census Bureau.
Cities were ranked based on a city-level rental activity score. The highest score was assigned to the most desirable city for each metric, while the lowest score was set slightly below the value of the least desirable city. Cities lacking adequate data for specific metrics were given a score of zero.
To view the full study, visit the link here.