Axiometrics: DFW multifamily Feb. 2015Axiometrics: DFW multifamily Feb. 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=14512015-03-24T13:49:00Z2015-03-24T00:00:00Z

DALAS-FORT WORTH - North Texas apartment vacancy rates continued to inch down in February, according to Axiometrics Inc.

In February, there was a 5.1 percent vacancy rate in North Texas apartments — down about one tenth of 1 percent from January, according to a new report by Axiometrics Inc.

Average rents were up 5.4 percent annually in the Dallas area and 6.3 percent in the Fort Worth area. In Dallas renters on average pay more than $1,000 a month.

The increase in North Texas apartment rents and occupancy came even though more than 3,800 apartments were added to the market in first quarter 2015.

“The fact that so much new supply is being delivered, and both metros are considered close to ‘full’ by Axiometrics’ standards, speaks to the economic strength of this region,” Stephanie McCleskey, vice president of research for the apartment consulting firm.

Almost 30,000 apartments are being built in North Texas — more than in any U.S. metropolitan area.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2015/03/north-texas-apartment-rents-occupancy-move-higher-in-february.html/Read more at {Source}

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