Dallas-Fort Worth apartment rents hit record highsDallas-Fort Worth apartment rents hit record highshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=126912016-04-01T05:00:00Z2016-04-01T16:00:00Z

​​​DALLAS – According to Axiometrics, an apartment market research and analysis firm, North Texas apartment rents reached record levels in February.

The average rent in the Fort Worth-Arlington market was $974 in February, $4 more than the month before and $57 more than the same month last year. Fort Worth’s occupancy rate was 95.1 percent in February, compared with January’s 94.8 percent and 94.9 percent in February 2015.​

Fort Worth’s February effective rent growth was 6.2 percent, about the same as January’s rate and 7 basis points lower than the February 2015 rate of 6.3 percent. A basis point is a unit equal to one hundredth of a percentage point.

Fort Worth’s annual effective rent growth has exceeded Dallas’ in 21 of the past 23 months.

Meanwhile, renters in the Dallas-Plano-Irving market paid an average of $1,083 in February, $6 more than in January, $5 higher than the previous record of $1,078 set in October 2015 and $58 more than in February 2015.

Dallas’ occupancy rate for apartments was 95.4 percent, slightly higher than January’s 95.3 percent and up from 94.9 percent in February 2015. Dallas occupancy has been 95 percent or more (the point at which Axiometrics considers a market essentially full) for one full year.

Fort Worth Business Press
Dallas-Fort Worth-Arlington
http://www.fortworthbusiness.com/news/fort-worth-dallas-apartment-rents-at-record-highs/article_c259ee6a-f76a-11e5-8099-afe17cfcac6d.htmlRead more at {Source}

 Search NewsTalk Texas