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DFW apartments 1Q 2014: Hendricks-BerkadiaDFW apartments 1Q 2014: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=41682014-05-19T07:31:00Z2014-05-19T07:00:00Z

DALLAS-FORT WORTH - More than 3,000 apartments were delivered in first quarter 2014, a 15.1 percent increase from 1Q 2013. From 2009 to 2013, completions averaged 8,560 units annually.

In March 2014, 24,900 annualized permits were issued, a 43.8 percent gain from March 2013.

There were 11,000 newly occupied apartments in the last 12 months, compared to 12,000 completions. Consequently, vacancy ticked up, reaching 5.8 percent in 1Q 2014.

Average rent ascended 2.8 percent year-over-year, reaching $935 per month. In the highest-rent area, the Central Dallas submarket, asking rents increased 1 percent to $1,644 per month. Asking rents decreased in only three of the submarkets in the Metroplex.

DFW Multifamily 1Q 2014 / 1Q 2013 Comparison by Vacancy
Submarkets* Vacancy Average Rent
1Q 2014 1Q 2013 1Q 2014 1Q 2013
Rockwall County 2.8% 4.4% $994 $940
Ellis County 3.6% 9.0% $874 $859
Garland 4.6% 5.2% $792 $769
Richardson 4.7% 4.8% $1,001 $969
Far North Dallas 5.0% 5.1% $899 $863
Plano-Allen-McKinney 5.0% 5.3% $1,036 $995
Carrollton-Addison-Coppell 5.2% 4.7% $873 $843
North Irving 5.2% 4.7% $973 $951
Far Northwest-Farmers Branch 5.3% 5.4% $874 $856
Hurst-Bedford-Euless 5.3% 4.2% $821 $813
Market total** 5.8% 5.7% $935 $910

*Chart represents top ten submarkets ranked by vacancy.
**Total includes all submarkets within DFW.

View the full report at Hendricks-Berkadia. For more stats, see Multifamily under DFW Market Data Sources.

Berkadia
Dallas-Fort Worth-Arlington
Multifamily
http://www.apartmentupdate.com/index.cfmRead more at {Source}

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