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DFW apartments 2Q 2013: Hendricks-BerkadiaDFW apartments 2Q 2013: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=65102013-09-18T10:07:00Z2013-08-26T08:00:00Z

DALLAS-FORT WORTH - More than 4,000 apartments were completed in the Metroplex since January 2013, according to Hendricks-Berkadia. During the same period last year, 1,590 units were delivered. Over the next year, at least 8,500 units are projected to come online.

In the first half of 2013, permits for 7,340 apartments were issued, an increase of 6.8 percent from one year ago. Annual permitting activity in the past two years has averaged 14,180 units.

Average vacancy decreased 20 basis points to 5.4 percent in second quarter 2013 with asking rents in the DFW area rising 2.6 percent to $914 per month. Class A monthly rents rose 2.3 percent to $1,358 per month during 2Q 2013.

DFW Multifamily 2Q 2013 / 2Q 2012 Comparison by Vacancy
Submarkets* Vacancy Average Rent
2Q 2013 2Q 2012 2Q 2013 2Q 2012
Rockwall County 3.2% 2.6% $973 $986
Garland 3.7% 5.5% $785 $774
Grapevine 3.8% 4.1% $1,133 $1,106
Richardson 4.2% 4.1% $987 $950
Southeast 4.4% 5.6% $847 $811
Collin County/Other 4.5% 6.6% $971 $950
North Irving 4.5% 5.0% $955 $931
Total (DFW-wide average)** 5.4% 5.6% $914 $891

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

View the full report at Hendricks-Berkadia.

See the Center's free DFW Market Data Sources. Stats and facts galore!

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

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