Fort Worth Outpaces Dallas In Rent Hikes
Rents for Fort Worth apartments are increasing at a higher rate than Dallas, according to Axiometrics. The Fort Worth-Arlington metro had 6.2% rental growth from January 2015 to January 2016, while the Dallas-Plano-Irving metro area jumped 5.7%. You'll still shell out more for an apartment in Dallas, though: $1,076/month on average vs. $967 in Fort Worth.
Rent hikes haven't stifled absorption, which remains strong for both cities. Occupancy for Dallas apartments increased from 94.7% last year to 95.2% this January; while multifamily occupancy in Fort Worth remained steady at 94.8% year-over-year.
Axiometrics VP Stephanie McCleskey tells us the Dallas/Fort Worth's solid job growth has helped our apartment market continue to outperform the national market despite monthly fluctuations from new supply added, influx of in-migration and increases/decreases in concessions.
