Grand Prairie, Texas, Rent Report for April 2023. The city’s entire median rent is at $1,423, or almost the same as last month. Prices have increased by 4.0% since last year. Continue reading to find out more about the Grand Prairie rental market’s recent developments and how they relate to national and wider DFW metro region trends.
| Grand Prairie Rental Stats | |||
|---|---|---|---|
| Median Rent | Rent Growth | ||
| 1 bed$1,201 | 2 bed$1,433 | Past month-0.5% | Past year+4.0% |
Grand Prairie rentals are unchanged from month to month and up 4.0% from year to year.
Throughout the duration of March, Grand Prairie’s median rent decreased by 0.5%, bringing its year-over-year growth to a total of 4.0%. During the last year, Grand Prairie’s rent rise has surpassed both the state’s (3.0%) and the country’s (2.6%) norms.
Grand Prairie rentals are 2.6% less than the median for the whole metro area.
If we broaden our perspective to include the whole Dallas metro region, the median rent is $1,460, making Grand Prairie’s median price ($1,423) 2.6% less than the median price for the metro as a whole. Rent growth in the metro area is currently 3.0% annually, which is slower than rent growth in individual cities.
As informed investors, we should understand the risks associated with real estate investing and that there is no guarantee. Please do your due diligence.
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What investment opportunities are available in the multifamily market in Grand Prairie, Texas?
Investment opportunities in the multifamily market in Grand Prairie, Texas, include acquiring existing multifamily properties, developing new multifamily properties, and renovating existing multifamily properties to increase rental rates and attract more tenants.
