MPF Research: DFW apartment demand strongMPF Research: DFW apartment demand stronghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=29182014-10-01T11:20:00Z2014-10-01T00:00:00Z

DALLAS-FORT WORTH - DFW continues to be one of the nation's top apartment markets, delivering thousands of apartments each month in an effort to meet demand.

In total, developers completed 6,228 apartments in third quarter 2014, and 16,193 apartments in the past 12 months, according Carrollton-based MPF Research.

Demand is keeping pace with construction. North Texas renters leased 5,860 additional apartments during 3Q 2014, and 15,961 apartments in the past year. The region's occupancy rate has reached a 13-year record high of 94.7 percent.

For the first time, North Texas' average rents have breached the $900 per month milestone, with average rent reaching $903 per month in 3Q 2014. The region's annual rent has grown nearly 3.5 percent.

The new apartments being delivered in the Dallas urban core are commanding monthly rents of $1,800 to $2,000. For downtown Fort Worth, the average rent is $1,600.

Nationally, apartment occupancy has reached 95.1 percent, with a 4 percent growth in annual rental rates, according to Dallas-based Axiometrics Inc.'s preliminary 3Q 2014 data.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/blog/morning_call/2014/10/reports-demand-still-strong-for-dfw-apartments.htmlRead more at {Source}

 Search NewsTalk Texas