With an occupancy rate of almost 95%, apartment demand in Dallas/Fort Worth was stronger than anywhere else in the country in 2012 and remained high in 2013. And looks like the sky will only be the limit in 2014: rents will be climbing about 3 per cent. All this good stuff (if you are a landlord) according to Property Management Insider.
Occupancy: D/FW has had more demand that it has supply in each of the last four years, and that means occupancy is in good shape: At 94.4%, the occupancy rate in the metro remains at a 14-year high.
Rent Growth: With occupancy in good shape, rents are climbing. Same store rents for new leases were up 3.4% in D/FW in 2013.
Outlook: With nearly 17,000 new units expected to complete in the region, rent growth in the middle and lower end products will have to remain strong for D/FW to continue its momentum of strong occupancy and rent performance. MPF Research expects momentum to slow slightly with rents climbing around 3.0%
This is good news: I have a 1550 ish square foot two bedroom, two bath condo ready to lease Behind the Pink Wall… anyone looking?
