DFW’s apartment boom

​​​DALLAS – More than 50,000 apartments are currently being built in North Texas, a jump of nearly 7,000 units in the last three months, according to a report by MPF Research.

More apartments are under construction in Dallas-Fort Worth than anywhere else in the country. The area accounts for almost 10 percent of all apartments​ being built in the U.S.

"It’s the largest share we have probably ever seen for any individual market in the country," said Greg Willett, MPF Research vice president.

It’s a good thing leasing activity in North Texas has remained strong, Willett said; only 5 percent of DFW apartments are empty. 

"We are at record occupancy, and it’s leasing as fast as it’s done," he said. "This suggests we still have some pent-up demand.​"

For the first time, average area apartment rents have topped $1,000 a month. Average rents in the newest un​its are $1,448.​