- Legacy West apartments average $1,845 a month, a 9% premium over comparable Dallas properties that’s smaller than any other demand pocket RealPage tracks, yet the submarket needs the fewest concessions to stay leased.
- The pocket posted 95.5% occupancy in the second quarter, two points above the Dallas metro average, anchored by roughly 12,000 corporate jobs from employers including Toyota, JPMorgan Chase, and Frito-Lay.
- Because Legacy West’s strength rests on continued corporate expansion rather than a larger price premium, its durability depends on employers in the Plano-Frisco corridor keeping up their hiring pace.
Apartments in Legacy West command the smallest rent premium of any demand pocket in the Dallas metro, yet the submarket needs fewer concessions to stay full than any of its peers, according to RealPage. The corporate-anchored district straddling the Plano-Frisco border averaged $1,845 in effective rent in the second quarter, a 9% premium over comparable metro properties. That’s the smallest premium among the demand pockets RealPage tracks across Dallas, even though Legacy West’s occupancy and leasing strength outperform them.
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A Pocket Built on Corporate Campuses
Legacy West sits where the Dallas North Tollway meets the Sam Rayburn Tollway. The district straddles the Plano-Frisco border, about 25 miles north of downtown Dallas.
Roughly 12,000 corporate employees work across major employers in the area. They include Toyota’s North American headquarters, JPMorgan Chase, Frito-Lay, Liberty Mutual, Capital One, Intuit, Ericsson, and JCPenney.
Retail and entertainment also draw visitors. Major attractions include the Shops at Legacy West and Riders Field.
Metro Dallas added corporate jobs at a strong pace from 2018 to 2022, RealPage notes. That growth has slowed since then. The pocket’s continued strength stands out against the softer hiring backdrop.
The Details
Legacy West has an average effective rent of $1,845. That equals $2.03 per square foot.
By comparison, West Plano averages $1,628, or $1.73 per square foot. The metro-wide average stands at $1,533, or $1.70 per square foot.
Effective rents in Legacy West have fallen 8% since 2022. That matches the broader Dallas metro decline.
Despite the pullback, occupancy reached 95.5% in the second quarter. That was two percentage points above the metro average.
It also marked the highest occupancy among the durable pockets RealPage analyzed. The result suggests renters still value the location, even as rents have softened.
The Concession Gap
RealPage calls Legacy West “the weakest durable pocket” based on rent premium alone. However, that label misses what leasing data shows about Dallas apartment rents in the corridor.
Legacy West requires fewer weeks of free rent than any other pocket in the analysis. Landlords also offer smaller discounts.
That points to strong demand, even though the pocket has a modest rent premium. In other words, landlords are winning the leasing battle without relying as heavily on price cuts.
Why It Matters
The findings complicate a simple view of Dallas’s demand pockets. Investors often treat a larger rent premium as the clearest sign of strength.
Legacy West tells a different story. The submarket beats its peers on occupancy and concessions, even with a smaller rent premium.
That distinction matters for owners considering acquisitions in the corridor. It also suggests concession trends may offer an earlier signal of submarket strength than headline rent premiums.
Landlords typically pull the concession lever when demand weakens. They are also slow to give those concessions back when demand improves.
Legacy West has held the line on free rent and discounts. At the same time, its raw rent premium ranks near the bottom.
That could indicate stronger pricing power than a wide premium that concessions quietly reduce.
What’s Next
RealPage links Legacy West’s durability to continued employer growth in the corridor. Rent growth alone does not explain the pocket’s strength.
Corporate hiring across metro Dallas has slowed from its 2018-2022 pace. The next test will involve existing anchor employers.
Will those companies keep adding workers? Or will new corporate relocations replace the growth that has slowed?
RealPage’s broader series also tracks other Dallas demand pockets. Those include Uptown/Katy Trail and Knox/Henderson.
The series will show whether employer-driven durability holds as leasing activity moves further into 2027.
