The credit of renters across Dallas-Fort Worth is on the decline, with Arlington renters having the lowest average score in the U.S., according to a new analysis by RENTCafe.com.
The trend in DFW ran counter to the nation’s, in which the average credit score needed to rent an apartment has been going up one point each year for the past three years.
Renters in the city of Dallas have an average credit score of 622, a number that decreased throughout the years, as it was 630 in 2019 and 639 in 2018.
Fort Worth has a slightly higher average of 627, which also decreased from 641 in 2019 and 647 in 2018.
Arlington renters have the lowest average credit score in the country, at 580.
Breaking it down by age, Gen Z renters post an average score of 575 in Dallas, 585 in Fort Worth, and 535 in Arlington.
Looking at the scores by building type, Dallas renters in high-end apartments have an average score of 659. Meanwhile, the average in Fort Worth for renters of high-end pads is 680.
Statewide, renters in the biggest Texas cities pushed the average credit score above the 600 mark. Houston has an average of 606, San Antonio averages 630 and Austin has an average of 670.
The study is based on anonymized rental application data from RentGrow in the 50 largest U.S. cities.
Good credit is becoming increasingly important for renting an apartment, the RENTCafé analysis notes. Nationwide, the average credit score of renters in the U.S. was 638 in 2020, according to the analysis of more than 5 million lease applications nationwide.
Credit scores vary by generation and in different types of buildings, too.
Renters in high-end buildings nationwide had an average credit score of 669 last year – 43 points higher than renters living in mid-priced buildings, whose average score was 626. Meanwhile, the credit score of those living in low-end buildings averaged 597, or 29 points below that of renters in mid-range apartments.
Nationwide, San Francisco is the most competitive city to rent in, with renters boasting average credit scores of 719. It’s followed by Boston (716), New York (715) and Seattle (706).