DFW apartment trends 3Q 2012
DALLAS-FORT WORTH – According to MPF Research, DFW leads the nation in apartment construction with 17,792 units underway, Making DFW one of the few markets where construction levels top the local ten-year average of 13,469 units.
The DFW apartment market should continue to grow in the year ahead, with apartment occupancy remaining near 94 percent through the end of 2013. However, the rate of growth is expected to slow down as the housing market continues to recover.
The biggest share of the apartment construction in North Texas is in Dallas’ center city markets — including Uptown and downtown — and in Las Colinas, Addison, Carrollton and Farmers Branch.
- Dallas saw same-store rents climb for the tenth consecutive quarter, as prices rose 1.3 percent in third quarter 2012.
- Fort Worth saw same-store rents climb 3 percent year over year, the eighth consecutive annual increase.
| Effective rent | $827 |
| Occupancy | 93.8% |
| Annual job change | 61,100 |
| Annual permits | 14,954 |
| Annual demand | 10,146 |
| Annual completions | 6,501 |
Read more at the Dallas Morning News.
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