DFW apartments forecast 2013: Hendricks-Berkadia
DALLAS-FORT WORTH – The pace of job gains in the Dallas-Fort Worth MSA is projected to quicken to 2.2 percent in 2013, and rise to 2.3 percent in 2014. Overall, the health care and education sector accounts for more than 377,000 local jobs, a figure that is up nearly 43 percent over the past ten years.
Apartment completions will surge to a four-year high of 10,820 units in 2013 but will trend down to 3,340 units in 2014, returning closer to levels seen in 2011 and 2012.
Supported by stronger occupancy levels and the development of new, upscale units with premium rents, local rent growth will trend up to 4.2 percent in 2013, with a 4.8 percent gain projected for the following year.
| Submarkets 5+ Units | Vacancy | Average Rent | ||
| 4Q 2012 | 4Q 2011 | 4Q 2012 | 4Q 2011 | |
| Uptown / Oak Lawn | 4.6% | 4.1% | $1,462 | $1,382 |
| North Dallas / Highlands | 6.8% | 9.2% | $720 | $708 |
| Irving | 5.1% | 5.6% | $844 | $803 |
| Far North Dallas / Carr / Addison | 5.1% | 6.1% | $851 | $825 |
| Plano / McKinney / Allen | 5.0% | 3.8% | $955 | $913 |
| Denton / Lewisville | 5.2% | 5.9% | $889 | $856 |
| Garland / Mesquite | 6.2% | 7.6% | $719 | $691 |
| East Dallas / Vickery | 7.4% | 8.1% | $820 | $797 |
| South Dallas / DeSoto / Lancaster | 8.5% | 9.1% | $774 | $744 |
| Totals* | 6.4% | 6.9% | $834 | $811 |
*Totals include the Fort Worth submarket also. See Hendricks-Berkadia for the full chart.
View the full report at Hendricks-Berkadia. For other cities’ Hendricks-Berkadia reports, see NewsTalk Texas.
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