Texas demand jumps into U.S. apartment markets

TEXAS – Demand for apartments across the U.S. is continuing to rise, and the rapid leasing pace is pushing up occupancy and rent growth, according to MPF Research.

Running counter to the historically typical pattern of seasonally slow leasing during the winter months, apartment demand for a total of 64,297 units registered across the country’s 100 largest metropolitan areas in first quarter 2015.

“Accelerating job creation is allowing more young adults to form new households, and almost all of the new households are opting to rent,” said MPF Research vice president Greg Willett. “At the same time, relatively few of the more-established renters are leaving apartments to make home purchases for the first time.”

Texas plays an especially outsized role in the total demand results. Dallas-Fort Worth, Houston, Austin and San Antonio combined to account for 20 percent of total apartment demand nationally during the past year.

That share of demand doubles the 10 percent share of U.S. existing apartment inventory found in the big Texas markets.

Read more at BusinessWire.