Apartments in Downtown El Paso

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Downtown El Paso

An El Paso Neighborhood

Summary

Downtown is the economic center of El Paso. Home to several of El Paso’s major corporations, its municipal government buildings, and the area’s tallest building (the 296-foot-tall Wells Fargo plaza), the area has in recent years attracted a number of new developers, who are converting former warehouse buildings into airy lofts. Downtown is ripe for a residential comeback, awash as it is with cultural institutions like the El Paso Museum of Art (which is free) and historic buildings like the iconic Plaza Theater, which opened in 1930 and was extensively restored before re-opening in 2006.

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Budget

If you're not sure how much an apartment will cost, the table below shows the average price by size.

$699
Studio
$810
1 Bedroom
$933
2 Bedrooms
$1,051
3 Bedrooms
$2,047
4 Bedrooms
$1,715
5+ Bedrooms
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El Paso:
April Rent Report

Welcome to the April 2020 El Paso Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the April 2020 key findings and figures for the El Paso rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in El Paso and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of El Paso rent prices in the chart below.

Monthly Rent Report

El Paso Rent Prices Increase From March to April

El Paso rent prices increased over the last month. From March to April, the city experienced a 3.68% increase for the price of a one-bedroom apartment. The rent price for a El Paso one-bedroom apartments currently stands at $789.0.

When we take a look at the two-bedroom comparison from March to April, El Paso experienced a 2.93% increase for the price of a two-bedroom apartment. The rent price for a El Paso two-bedroom apartments currently stands at $984.0.

April Prices: El Paso vs. Surrounding Areas

Rent Prices in El Paso and Surrounding Areas

Rent prices have increased in El Paso over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the El Paso suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the El Paso suburbs

  • Rents did not decrease in any of the El Paso suburbs.

April 2020 Pricing Trends: El Paso vs. National Comparisons

El Paso Rent Prices More Affordable Than Major Cities

Rent growth in El Paso over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, El Paso rent prices appear to be relatively affordable for local residents.

The price for a El Paso one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's April 2020 National Apartment Report and data set here.

For more information about El Paso and surrounding area rent prices, take a look at the complete data set below.

Data set for El Paso and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change
El Paso, TX $761.0 1.60% $956.0 3.69%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.