DFW Apartment Residents Are Paying More Than Ever For Rent

DFW Apartment Residents Are Paying More Than Ever For Rent

Dallas-Fort Worth apartment renters just can’t catch a break.

In January average rents in the area jumped by more than 5 percent from a year ago, according to a new report from Axiometrics Inc.

The rent hikes in the Fort Worth area were even larger – up 6.4 percent on an annualized basis.

“What’s amazing about these figures is that they’re occurring with a continued stream of new supply,” Stephanie McCleskey, Axiometrics vice president of research, said in a new report. “These numbers speak to the continued strong job growth throughout the Dallas-Fort Worth metro.”

The D-FW area led the country last year with almost 140,000 new jobs – a record annual employment gain for North Texas.

And population in the area is rising at more than 100,000 a year.

That’s fueled demand for apartments.

Renters are paying dearly to keep a roof over their heads.

In the Dallas area average rents were just under $1,000 a month, according to Axiometrics. In Fort Worth renters are paying an average of $891.70 a month. That’s a record for both markets.

Only about 5 percent of apartments in North Texas are vacant.

Almost 13,000 new apartments opened their doors in the D-FW area last year, according to Axiometrics. And another 15,901 rental units are scheduled for completion here this year.

“Given the bump-up in supply, we’ll likely continue to see rent growth and occupancy moderate, as both metropolitan districts absorb the new units,” McCleskey said.


Brenda Kinsey Headshot
Author:
Phone: 940-736-6599
Dated: February 20th 2015
Views: 760
About Brenda: Brenda Kinsey and Brendan Duffey, the founding partners of B2 HomeTeam with Halo Group Realty have b...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Halo Group Realty
825 Watters Creek Blvd. Suite 230
Allen, TX
469-437-4651
2144520590

Other Locations