Dallas-Fort Worth continues to be a top destination in the U.S. for homeowners and renters.
DFW was ranked as the No.2 market in the U.S. for its share of homeowners and renters who relocated to the region in 2019 or later, according to a recent LendingTree report based on U.S. Census Bureau data.
Nearly 35% of all local homeowners and renters in DFW relocated to the metro in the past five years, with homeowners accounting for 18.77% of recent movers and renters accounting for 58.95%, according to LendingTree’s analysis.
With a large influx of demand for housing in DFW, prices have risen accordingly. The three-year median home value appreciation stands at 16.15%, whereas the three-year median gross rent appreciation is 8.49%.
“More movement among homebuyers can reduce the supply of homes for sale in a given area and cause prices to increase,” LendingTree said in the report. “But while there is a strong correlation between the share of homeowners who recently moved and home price appreciation, there’s a much weaker correlation between the share of renters who recently moved and rent appreciation.”
This shows how buying and renting markets don’t always behave the same way — even if they are related.”
Although DFW was the No.2 market for both categories of movers, the analysis shows that most were renters rather than homeowners.
“One short-term reason is that owning a house is typically much more expensive than renting one. This can give renters more freedom to leave their homes, as they don’t need to spend as much time saving for homebuying costs like a down payment or mortgage fees,” LendingTree wrote in the report.
“Similarly, renters don’t have to deal with the often costly and potentially time-consuming hassle of selling a home — instead, they can more easily pack up and move once their lease expires.
LendingTree analyzed data from the U.S. Census Bureau 2021 American Community Survey with one-year estimates to determine the rankings for each U.S. metro.
The U.S. metros with the largest shares of homeowners and renters since 2019 include:
- Austin: 38.82%
- Dallas-Fort Worth: 34.91%
- Las Vegas: 34.81%
- Denver: 34.71%
- Orlando: 34.55%
- Phoenix: 34.03%
- Houston: 33.50%
- Jacksonville: 33.27%
- Nashville: 33.14%
- Salt Lake City: 32.94%
The full report can be viewed here.