Unprecedented demand for Dallas-Fort Worth apartments has reduced vacancies to a record low and propelled area rents to an all-time high. Net apartment...
Almost 41,000 apartments are under construction in the Dallas-Fort Worth area.Unprecedented demand for Dallas-Fort Worth apartments has reduced vacancies to a record low and propelled area rents to an all-time high.
Apartment leasing would have been even greater if there were more apartments available, Parsons said. “D-FW is definitely getting more expensive for all types of housing,” Parsons said. “But for people elsewhere in the country, they still see Dallas as a more affordable market.” “Multifamily developers, including Legacy Partners, are hoping to ramp up construction starts to meet outsized demand but are being met with multiple barriers, including historic rising of construction costs, supply chain disruptions, lack of labor and land availability,” said Matt Brendel, senior managing director of apartment builder Legacy Partners.
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