Apartments in Dallas In Demand
The Dallas apartment market is the hottest it’s been in two years, says a new report from MPF Research Inc. Dallas apartment occupancy spiked by 6,520 units, and the increase in renting activity leads many to believe that the economy is starting to pick up in the Dallas-Fort Worth metroplex.
In the Dallas apartment market, the most active regions were West Plano-Frisco, Lewisville and South Arlington.
And Now the Other Side of the Coin
However, the news comes with some caveats. Average Dallas apartment rents are down 4.7 percent in the last year. Obviously, landlords and apartment managers are discounting their properties to keep Dallas apartment occupancies high. More than 60 percent of Dallas apartment landlords are offering incentives like free rent for the first month or even two.
MDF puts Dallas-Fort Worth vacancy rates at a bit over 10 percent, and in some Dallas-area neighborhoods, new construction has bumped up the surplus of housing, with 2,933 new units landing on the market in the first three months of 2010 and 9,000 in the works.
Rent a Dallas Apartment
However, after those units open, the Dallas apartment market will tighten for awhile. Combined with North Texas’ population growth – which led the nation in the last census – Dallas apartments might be a seller’s market in the next few years. If you’re looking for a Dallas apartment for rent, you might want to lock up a good deal while you can still find one.
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