Rents Going Up In Dallas!

[Jim Cummings]

Rental Rates Projected To Increase For Dallas Apartments

DALLAS (Multi-Housing News) – The North Texas multifamily market continued to show healthy fundamentals last year and into first quarter 2019, according to Yardi Matrix.

However, supply dampened rent growth, slowing it to 2.8 percent year over year through March, slightly below the U.S. average.

More than 26,800 units were delivered in 2018 for a new cycle high, with an additional 44,700 apartments underway as of March.

Following last year’s $5 billion transaction volume, investors already traded nearly $900 million in multifamily assets in 1st Qtr 2019, at a per-unit price of $105,032.

With rapid economic expansion and population gains slated to keep demand healthy, Yardi Matrix expects rents in Dallas-Fort Worth to rise 4.3 percent in 2019.