Top 5 U.S. metros for rent growth in 2016Top 5 U.S. metros for rent growth in 2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=142752016-08-23T05:00:00Z2016-08-23T20:40:00Z

​​​​DALLAS-FORT WORTH - Approximately 320,000 new apartment units are expected to hit the U.S. housing market in 2016, and more than 7 percent of those units are going to pop up in the Dallas metroplex.

According to a report by RentCafe, 23,159 apartments are expected to be delivered to the Dallas area in 2016, behind only Houston, which is expected to see 25,935 apartments delivered this year.

As a whole, Texas is leading the pack in terms of apartment construction, with more than 69,000 projected units to be built this year between DFW, Houston, San Antonio and Austin. 

With an increase in apartments also comes, at least hopefully, an increase in jobs. 

Axiomatic ​projects annual job gains of 99,600 in the Dallas area as of June 2016. 

According to RentCafe, Dallas has the highest job growth rate in the nation at 3.7 percent. 

​Despite the growth in apartments, rent growth is slowing a bit. An Axiomatic report shows annual effective rent growth at 5.1 percent as of July 2016, which is down slightly from that time last year at 6.3 percent. 

The Fort Worth-Arlington area saw a slight drop in rent growth as well, dropping from 7 percent in July 2015 to 5.9 percent in July 2016.

Dallas Business Journal
Dallas-Fort Worth-Arlington

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