More than 52% of residents in the Oak Cliff ZIP code 75233 are renters, according to data from RentCafe.
The website analyzed data from the 50 largest cities in the United States and found 101 ZIP codes that turned majority renter in the decade 2011-2020.
The 75233 ZIP code includes Kimball High School, the Brettonwoods neighborhood and Kiestwood.
It is one of five Dallas ZIP codes that became majority renter in that time period. The others are the 75223 Tenison Park area, 75243 Lake Highlands area, 75237 Red Bird and 75235 Love Field area.
In Oak Cliff’s 75233, no new apartment complexes have been built in the past decade, but Kiest Forest Estates neighbors recently found that at least 27 new single-family homes are being offered for rent.
A developer told neighbors the new homes at 3700 W. Kiest Blvd. would be for sale, but “for rent” signs have gone up around them, neighbors told WFAA.
Builder Hassan Nasser, whom neighbors have been challenging since 2017, once listed the houses for $240,000-$290,000, the TV station reports.
“It wasn’t zoned as an apartment community. It wasn’t zoned as townhomes. It wasn’t zoned to be rentals. It was supposed to be homes for sale,” neighbor Tim Hill told the station.
Private equity firms bought up hundreds of thousands of single family homes across the United States that had fallen into foreclosure during the Great Recession, with the help of federally backed Freddie Mac and Fannie Mae. How that affects homeownership and the housing crisis has ben the subject of a ProPublica investigation and a congressional committee hearing this year.
A search on RentCafe of homes currently for rent in 75233 returned just one single family home, owned by a subsidiary of Cerberus Capital Management.
In one of our city’s poorest ZIP codes, 75210 in South Dallas, 71% of residents are renters, according to the data. About 3,477 residents of 75210 were renters in 2011, compared to 6,475 in 2020, an increase of 94%.
Oak Cliff’s 75233 ZIP code saw an increase of almost 60% in that same timeframe, from 5,481 to 8,758, according to the data.
Some of our city’s higher-income neighborhoods made the list of fastest-growing renter ZIP codes in Dallas, such as 75204 and 75219, which include dense neighborhoods such as Old East Dallas, Uptown and Turtle Creek.
Elsewhere in Oak Cliff, the Red Bird ZIP code, 75237, also turned majority rental, according to the data: 52.5% of residents rent, a 29.1% increase of nearly 4,000 households.
