Four more ZIP codes in Dallas-Fort Worth have become renter-dominated.
This week RentCafé compared the renter growth in 101 U.S. zip codes that switched from homeowner-majority to renter-majority in the past decade. San Antonio and Dallas stood out due to their rapidly rising home prices, according to the Dallas Business Journal.
The U.S. has recorded its highest number of renters in 55 years— more than 43.7 million households in 2021.
San Antonio’s 78215 tripled its rental population during this time, making it the top trending zip code for renters in the nation. While 78215 was already renter-dominated ZIP code at the start of the decade, 78256—also in San Antonio—tipped that way with a 132.4 increase in its renter population. The amount of renters in the ZIP went from about 41 percent, or 2,747, to 56 percent, or 6,385 between 2011 and 2020.
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Meanwhile, Southwest Dallas’ 75233 and 75223 ZIP codes ranked 10th and 11th for the biggest change in renter share for ZIP codes that were formerly owner-dominated. In 2011, the share of renters in 75233 and 75223 was less than 40 percent. In 2020, however, it was closer to 52 percent. Going from 4-5,000 renters to 7-8,000 renters, the two neighboring ZIPs saw a change of almost 60 percent.
Both in the Oak Cliff area, the two ZIP codes are right next to the super-hot 75208 where home prices had nearly quadrupled in value since 2012. In just the past three years, the median single-family home value in the 75233 ZIP code rose 52 percent, from $215,790 to $328,048, according to a separate DBJ analysis.
RentCafé also looked at ZIP codes that were already majority-renter in 2011 to see which had the greatest increase in renters. In Dallas-Fort Worth, 75210, which includes Fair Park and the area to the southwest up to White Rock Creek, had a 94 percent surge in the number of renters, making it the 12th fastest-growing renter ZIP code nationwide.
— Maddy Sperling