DFW apartment stats 2Q 2014: Hendricks-Berkadia
DALLAS-FORT WORTH – Apartment demand was healthy in the first two quarters 2014, despite a 12.1 percent decrease in leasing activity compared to the first half 2013. Renters occupied 7,250 additional units since the beginning of 2014.
Asking rents advanced 2.4 percent year over year to $950 per month 2Q 2014.
Class A asking rents rose modestly, increasing 0.3 percent to $1,385 per month. Average rent at Class B/C communities appreciated 2.9 percent.
Through mid-2014, completions were 20.9 percent greater than in the first half of 2013. Builders delivered 6,200 apartments year to date, of which 3,330 apartments came online in second quarter. Deliveries averaged 8,610 units annually during the last five years.
| Submarkets* | Vacancy | Average Rent | ||
| 2Q 2014 | 2Q 2013 | 2Q 2014 | 2Q 2013 | |
| Ellis County | 1.2% | 4.4% | $914 | $858 |
| Grand Prairie | 3.6% | 5.8% | $760 | $720 |
| Far Northwest/Farmers Branch | 3.9% | 4.4% | $895 | $875 |
| Garland | 3.9% | 4.2% | $818 | $778 |
| Hunt County | 4.0% | 5.0% | $677 | $677 |
| Hurst/Bedford/Euless | 4.2% | 4.6% | $843 | $822 |
| Richardson | 4.2% | 4.1% | $1,010 | $974 |
| Southeast Fort Worth | 4.2% | 4.1% | $875 | $832 |
| Far North Dallas | 4.4% | 4.9% | $915 | $878 |
| Plano/Allen/McKinney | 4.6% | 4.5% | $1,056 | $1,018 |
| Northwest Fort Worth | 4.6% | 5.4% | $1,085 | $1,064 |
| Market total** | 5.3% | 5.5% | $950 | $929 |
*Chart represents top 11 submarkets ranked by lowest vacancy.
**Total includes all submarkets within DFW.
View the full report at Hendricks-Berkadia. For more stats, see Multifamily under DFW Market Data Sources.
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