5 Affordable Neighborhoods to Consider When Moving to Dallas

Dallas is one of the most dynamic cities in Texas, offering a blend of urban excitement and suburban charm. And, with a booming job market, rich cultural scene and plenty of entertainment options, it’s no surprise that many renters are looking for their happy place in the city. However, affordability can be a concern as the cost of living in Dallas is 11% higher than the state average and 2% higher than the national average. As a result, finding budget-friendly neighborhoods is essential for renters looking to keep costs manageable.

Fortunately, Dallas has several affordable neighborhoods where renters can find rental apartments priced below the local average of $1,574 — without sacrificing on quality of life. Here are five of the best affordable neighborhoods for renters in Dallas:

• Lake Highlands
• Hollywood-Santa Monica
• Bent Tree West
• Stevens Park Estates
• Lakewood

Lake Highlands

Average rent as of March 2025: $1,258

Lake Highlands is a top choice for renters seeking affordability and comfort. This particular neighborhood is known for its excellent schools and abundance of parks, making it a great option for families and young professionals alike.

Renting in Lake Highlands also means access to the scenic White Rock Lake, which is perfect for outdoor enthusiasts who enjoy jogging, biking or kayaking. Plus, the area has a strong sense of community and a mix of modern apartments and charming, mid-century homes.

Hollywood-Santa Monica

Average rent as of March 2025: $1,316

Hollywood-Santa Monica offers a unique mix of affordability and character: A historic neighborhood filled with picturesque, Tudor-style homes and plenty of greenery creates a cozy and welcoming atmosphere.

Additionally, renters can enjoy easy access to nearby shopping and dining options along Garland Road, as well as the natural beauty of the Dallas Arboretum and Botanical Garden. The neighborhood’s charm and affordability make it an appealing option for renters looking for something a little different than the typical apartment scene.

Bent Tree West

Average rent as of March 2025: $1,374

For renters who prefer a quieter suburban feel without being too far from the action, Bent Tree West is an excellent choice. That’s because this neighborhood offers a variety of spacious apartments and townhomes at a reasonable price. Bent Tree West is also known for its top-rated schools and well-maintained green spaces — such as Bent Tree Meadow Park and Timberglen Park — making it an attractive option for both families and outdoorsy people alike.

Plus, the neighborhood is close to major highways, including the Dallas North Tollway and President George Bush Turnpike, making commutes to downtown Dallas or nearby business hubs both quick and convenient.

Stevens Park Estates

Average rent as of March 2025: $1,388

Stevens Park Estates provides renters with a balance of affordability and accessibility. Located just minutes from downtown, this neighborhood offers a mix of modern apartments and classic homes. Renters here also enjoy close proximity to the popular Bishop Arts District that’s known for its trendy restaurants, boutiques and entertainment venues.

Nearby, Stevens Park Golf Course and other green spaces provide a great retreat for nature-lovers. So, for those who want to live near the heart of Dallas without breaking the bank, this neighborhood is an ideal choice.

Lakewood

Average rent as of March 2025: $1,462

Lakewood is one of the most scenic, yet affordable neighborhoods in Dallas. Although it’s the priciest neighborhood on this list, its location and amenities make it well worth it. Here, renters can enjoy stunning views of White Rock Lake; a bustling shopping and dining scene; and a close-knit community. The area also offers a variety of rental options, from classic apartments to stylish townhomes, making it a great fit for renters who want a mix of nature and city life.

Dallas has no shortage of great neighborhoods for renters looking to stay within a budget. So, whether you’re searching for a family-friendly community, a historic district with charm or a suburban retreat with easy city access, these five affordable neighborhoods offer the best value. Start your apartment search today and discover why so many renters are choosing to call Dallas home.

Meanwhile, if you’re curious about neighborhoods in other cities, take a look at similar articles on the best affordable neighborhoods in San Antonio; Vancouver, WA; Cincinnati; and Las Vegas.