DFW apartments 2Q 2013: Hendricks-Berkadia
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.
| 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.
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