DFW Apartment Leasing Construction And Rents Jump In Second Quarter

Dated: 07/08/2015

Views: 1392

North Texas apartment leasing more than doubled in the second quarter from the first three months of 2015.

Net leasing totaled 7,881 apartments. And 11,429 units were leased in the first half of the year – up 26 percent from the same period in 2014, according to just-released numbers from MPF Research.

“Demand is still coming in at huge volumes, surpassing the sizable completions,” MPF Research vice president Greg Willett said. “In turn, occupancy remains tight, close to the all-time high, and rent growth is proceeding at record levels.”

Less than 5 percent of Dallas-Fort Worth apartments are vacant.

Vacancy levels fell even though developers opened almost 5,000 new apartments in the second quarter.

With the strong leasing and high occupancies, landlords bumped up rents by 5.5 percent from a year ago. An average D-FW apartment now goes for $952 a month, according to MPF Research.

Rents are even higher for the newest apartments, averaging almost $1,400 citywide.

And in popular rental districts in Dallas’ Uptown, downtown and other close-in markets, new apartments are fetching an average of $1,800 a month.

More than 35,500 apartments are currently under construction in North Texas – the highest building totals in three decades.

Increasingly developers in close-in locations are building mid to high-rise apartments because of high land costs.

“The only real vulnerability we see in the market over the next year or two is tied to the big block of very expensive product that will come on stream in the Dallas urban core,” Willett said. “Even in that comparatively competitive niche, the likely outlook is slower rent growth, rather than actual pricing cuts.”

For more information, please contact me or visit my website:

Chris Boyington, Realtor, ABR

U.S. Army Veteran

Homes For Heroes
Halo Realty Group
214-598-0221 cell



Want to Advertise on this Site?

Latest Blog Posts


ENERGY SAVING TIPS THAT WILL LOWER YOUR BILLS Temperatures are rising which means that your utility bills are likely on the rise too. With the average American spending around $200 a month on

Read More


HOW TO SAVE BY GETTING RID OF THE EXCESS If you’re getting ready to move, whether you are trying to sell your home or you’ve already purchased a new one, one of the first things that tends

Read More

4 Signs You Might Need Roof Repairs

4 Signs You Might Need Roof Repairs Your roof is a critical part of your home. Protecting you from the elements all year round, your roof takes the brunt of any weather that comes through your

Read More

Gardening Tips To Help Your Yard And Your Stomach

Gardening Tips to Help Your Yard + Your StomachThough millions of households at the beginning of the year already had their own gardens started, there should be no surprise that the numbers are on

Read More