Dallas apartment renters are typically getting more than they wanted, and that could upsize expenses, according to a new Apartment List report.
A study of 70 metro areas found, on average, Dallas rental properties have excessive amenities that many renters do not want. Dallas trails only fellow Texas city Houston in the entire nation in the excessive amenities index.
The report juxtaposed potential renters’ preferences with amenities offered by more than 4 million units Apartment List has on its online platform. Some of the amenities observed were in-unit laundry, balconies, hardwood floors, cat friendliness and pools.
While searching for apartments, only 8 percent of Dallas renters sought cat friendliness, an amenity offered by 80 percent of rental properties in the city, according to the report. That leaves a gap in demand of 72 percent.
"(Dallas) has undergone a pretty substantial amount of new construction in recent year," Salviati said. "All of the new apartment buildings that are coming online, I think, tend to be well-equipped with modern amenities."
Priceonomics, a data research company, estimated amenities like pet friendliness, laundry and private outdoor areas could have a 5 percent impact to rental costs in Dallas. And the inclusion of a fitness center and parking facilities at a complex would increase rent by 10 percent and 15 percent, respectively.
A two-bedroom apartment in Dallas currently costs $1,100, according to Apartment List. That means, on average, renters in Dallas may be paying $165 per month for parking at their apartments.
Other overabundant amenities included pools, with a 45 percent gap in demand; gyms, with a 37 percent gap; dishwashers, with a 27 percent gap; and balconies, with a 14 percent gap.
In contrast, 56 percent of the renters in Dallas wanted in-unit laundry, but only 15 percent of properties offered it. Dallas apartments are also undersupplied with hardwood floors. Salviati said that trend is consistent throughout the nation.