DFW Outperforming U.S. In Multifamily Rent Increases

Multifamily rents are declining sharply across the U.S., but the tale is utterly different in Dallas-Fort Worth.

One-bedroom apartment rents increased substantially nationwide last year, but Abodo began recording a decline in February, and it has accelerated in April. The U.S. average is now $1,015/month for a one-bedroom unit.

Read more at: https://www.bisnow.com/preview_story/87937?utm_source=CopyShare&utm_medium=BrowserOne-bedroom apartment rents increased substantially nationwide last year, but Abodo began recording a decline in February, and it has accelerated in April. The U.S. average is now $1,015/month for a one-bedroom unit.

Read more at: https://www.bisnow.com/preview_story/87937?utm_source=CopyShare&utm_medium=BrowserOne-bedroom apartment rents increased substantially nationwide last year, but Abodo began recording a decline in February, and it has accelerated in April. The U.S. average is now $1,015/month for a one-bedroom unit.

Read more at: https://www.bisnow.com/preview_story/87937?utm_source=CopyShare&utm_medium=Browser

Abodo began recording a drop in one-bedroom apartment rents across the country in February, and the rent decline accelerated in April. The U.S. average is now $1,015/month for a one-bedroom unit.

But rents in Fort Worth went up 4.6% in April to $1,067/month for a one-bedroom apartment, the second-largest rent increase in the country. Denton was sixth with a 3.9% increase to $914, and Dallas took the 10th spot with a 2.5% increase to $1,197.

This is a dramatic turnaround from seven months ago, when Dallas was in the top 10 for rent decreases. The metro has been a national leader in development, which was wearing on fundamentals.

The increase may be temporary.

"In Dallas specifically, many homeowners will choose to purchase in the winter months," Abodo Senior Communications Manager Sam Radbil said. "So, during the summer when the heat strikes, many new residents will choose a rental until home prices come back to more normal levels in the colder months."

Dayton, Ohio, is leading the country in one-bedroom rent bumps, with a 7.6% jump in April to $750, Abodo reports.

Denton and Dallas also made the top 10 list for two-bedroom units, with 2.8% and 2.3% increases, respectively. Houston took top billing in this category.

Continue reading this story with a free account

Log in or register
Related Topics: ABODO , Denton , Fort Worth , Sam Radbil
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories

Healey Awards $15M To Help Advance 5 Residential Conversion Projects

Laramar Group Pays $166M For 43-Story South Loop Apartment Building

Feds Raid North Texas-Based Contractor As Part Of HUD Investigation

Chicago Firm Proposes 40-Story Apartment Tower In Mid-Market

Philly LIHTC Gap Funding Changes Aim To Accelerate Affordable Housing Projects

Chicago Apartment Manager Settles Housing Discrimination Lawsuit

Fort Worth Approves Plan For $10B Data Center Campus

A Mindful Approach To Building In Specialized Environments

MG Developer Faces 6 Lawsuits Alleging Millions In Overdue Debt

OZ Incentives Weren't Enough To Blunt Economic Headwinds For Philly Multifamily Projects

Mamdani Reveals Housing Court Fast Track Targeting Landlords, Not Evictions

Developer Sues JLL For $12M, Claiming It Fudged Numbers On D.C. Project