Income growth surpassed rental growth in 37 of the largest 50 U.S. metros this October — including Dallas, according to new research from Zillow.
The typical asking rent for an average rental unit was unchanged at $1,678, while the median household income outpaced this acceleration, growing 4% during the same time frame.
At this rate, a new renting household earning the median income would need to spend 20.6% of their income to afford the typical rent — below the national average of 27.2%.
Dallas residents also have increasing access to forms of rental assistance: Data showed that 60.4% of rental units in the city offer concessions, up from 55.2% a year ago.
