Dallas home and apartment prices have been on the rise for what seems like forever. But according to a new report from Apartment List, the rate of rent increase has actually been on a downswing since 2016.
Since they time, rental price growth rate has declined by roughly 4.3 percent, all while the national rate has dropped by only 1.7 percent over that same period.
As noted by Apartment List analysts, new apartments being delivered is helping slow rental price increases, even as DFW’s population continues to soar. In 2018 alone, developers have delivered 6,532 new multifamily rental units, and DFW’s total market supply shook reach realty 28,000 total units, which is up nearly 3 percent compared to last year.
In addition, as rent prices have continued to climb in recent years, more people have finally decided to make the transition from renting to owning, ultimately brining down demand for apartments in the process as well.
Posted by Kenneth G. Cox on
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