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DFW's apartment boomDFW's apartment boomhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=137522016-07-05T05:00:00Z2016-07-05T17:00:00Z

​​​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.​

Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
http://www.dallasnews.com/business/headlines/20160628-d-fw-apartment-building-booms-with-more-than-50000-units-on-the-way.ece?hootPostID=2ebd6deaa09366a70951d407d491f849Read more at {Source}

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