Prospective tenants may have a difficult time finding a new apartment this year. With new project completions and a strong Texas economy, increased demand for apartment leasing rose 40% from 2012 to 2013. The DFW market experienced its highest fourth quarter of total units leased in the past 14 years and our market has continued to outperform expectations.
Upsurge in Demand: There has also been an upsurge in demand for newer luxury type apartments (with 25,000 new apartments were under construction at the end of 2013.)
- Vacancy Rates: Last year’s vacancy rates were recorded at only 5% and rents up about 3% – 4%.
- Strong Rental Rates: Our hot market increased 6% in rents from a year ago. Having strong rental rates and lower vacancy has dictated 3 straight years of continual growth.
A Few Resources That May Help With Your Search:
- Look for multi-family properties market values to be raised by appraisal districts in the DFW area for 2014.
- Use these links to read about news, resources, blogs, ratings of properties, rents and more. http://blog.apartmentfinder.com&http://www.bigdapartments.com , http://www.dallasapartmentlocators.co