North Texas apartment hunters found higher prices and fewer choices in the early months of 2022. Dallas-Fort Worth apartment vacancy rates fell to less than 3% ...
North Texas apartment hunters found higher prices and fewer choices in the early months of 2022.
Net apartment leasing totaled 6,251 units in the first three months of the year, compared with 5,000 new rental unit completions in the area. With the tight supply and more pricey new units on the market, D-FW apartment landlords hiked rents by more than 18% from first-quarter 2021 levels, RealPage found. That’s a bigger increase than the 15.2% nationwide annual rent rise.“North Texas’ booming job market is driving up household formation and wages, and that’s in turn fueling massive demand for all types of housing, including apartments,” Parsons said.
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