DFW overtakes U.S. rental growth rate

​​DALLAS-FORT WORTH – With 42,500 apartment units in the North Texas pipeline, landlords and developers are still upping their rental rates by at least 4.6 percent year-over-year—outpacing the rest of the United States.

In Dallas, apartment rents grew annually by 4.6 percent, and in Fort Worth rates climbed 6.8 percent—which was high enough to rank No. 7 in the U.S. for rental growth.

In the U.S., apartment rents rose 3.6 percent, with rents for new leases climbing 1.7 percent during second quarter 2017, according to a quarterly report from MPF Research.

Nationally, developers delivered the biggest block of new supply finished on a quarterly basis so far, this economic cycle, with completions totaling 90,400 units in 2Q 2017.

North Texas developers delivered 6,394 apartment units in the 2Q 2017, pushing the annual supply delivered in the metro to 22,291 units and there are another 42,500 units in construction. ​

North Texas’ occupancy rates sites at 95.5 percent, remaining virtually unchanged from a year ago, according to MPF Research data.

The average rent in Dallas is $1,113 per month, which increased from 1Q 2017 by 1.4 percent.​