Hottest 2018 multifamily pipeline in U.S.Hottest 2018 multifamily pipeline in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=187312018-01-09T06:00:00Z2018-01-09T21:15:00Z

​​​​​​The Magnolia on Gilbert apartments that are currently underwayDALLAS-FORT WORTH – North Texas has biggest apartment pipeline in the country going into 2018, noticeably surpassing the upcoming supply in New York and Los Angeles.

DFW’s ongoing construction, totaling 30,296 apartment units, is noticeably down from last year's peak of 39,700 units underway.

DFW has about a third more apartment units on the way than New York, the country's second most-active multifamily construction market.

That wave of new apartments lent a hand in constraining regional rent growth. 

In 2017, North Texas' rent growth rose 2.2 percent, down from the 4 percent to 6 percent annual rent growth from 2013 to 2016.

Meanwhile, Fort Worth's rental rates grew 3.5 percent in the last year, with Dallas' urban core seeing rents grow 1.8 percent.

North Texas' occupancy rate dropped below 95 percent, by the end of 2017 for the first time since early 2014, to 94.4 percent.

Last year, property owners leased 25,558 apartments units.
Dallas Business Journal
Dallas-Fort Worth-Arlington

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