Apartment Rentals Hit Record High in Dallas-Fort Worth; Finally Time To Buy?
Posted by Kenneth G. Cox on
Apartment rentals just hit a record high for the Dallas-Fort Worth area. For the second quarter of the year, net apartment rentals in North Texas more than doubled the rental pace of apartments a year ago.
Landlords leased more than 15,000 units during the quarter, with high demand, in part, coming from out of state markets. As demand increased, so did local rent prices.
Dallas-Fort Worth apartment rent rates increased about seven-percent, year-over-year. That’s the largest yearly increase on record and higher than the 6.3-percent rise in rents nationwide.
In North Texas, apartments rented for an average of more than $1,200 at the end of June. Apartment occupancy rate in Dallas-Fort Worth topped 95-percent.
That’s up more than one-percent from…
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