Dallas apartment rents up by more than 4 percent in JulyDallas apartment rents up by more than 4 percent in Julyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=33142014-08-21T07:15:00Z2014-08-20T00:00:00Z

DALLAS - In July, average apartment rents in the Dallas-area were 4.3 percent higher than a year ago, according to a new report by Axiometrics Inc.

That’s ahead of the 3.8 percent nationwide apartment rent growth rate.

“Effective rent growth has increased for five straight months, but is still a long way from the summer of 2011, when the rate was in the 5 percent range,” Axiometrics Vice President Stephenie McCleskey.

“On the other hand, it’s becoming more and more likely that 2014 will be the strongest overall year for the apartment market since the recession ended. This is the year of the apartment.”

Overall apartment vacancies in the Dallas area were just over 5 percent in July, about the same as the nationwide rate.

Almost 30,000 apartments are under construction in North Texas, making it one of the top apartment building markets in the country.

Dallas Morning News
Dallas-Fort Worth-Arlington
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