Dallas-Fort Worth surpassed Austin in rent price growth over the last 12 months
Since the beginning of the year, the average rent in Dallas-Fort Worth has jumped $90 a month, according to ApartmentData.com.
It now costs about $1,475 a month to rent an apartment in the Metroplex, a 6.5% increase since January.
Rent prices jumped 16% in the last 12 months in Dallas-Fort Worth, the steepest hike among Texas metros. Austin was second with a rent growth rate of 15.7%.
In the Fort Worth area, rent is highest in Grapevine, Roanoke and Keller, where it jumped to $1,686 — an increase of more than 7% since January.
Meanwhile, DFW apartments are still getting rented out swifter than they’re being built.
In the last 12 months, nearly 33,000 rental units in DFW became occupied — leading the large Texas metros. About 26,500 units came online since this time last year, and more than 20,000 are under construction.
The apartment occupancy rate in DFW remains at 93.2%.
In Fort Worth, the Saginaw and North Richland Hills areas had the highest occupancy rates: 95.5%.
Jess Hardin covers growth and development. After graduating from Georgetown University, she completed a Fulbright grant in Georgia (the country) and did a brief stint of federal service in whistleblower protection. Jess comes to Fort Worth after helping launch digital news start-up Mahoning Matters in the wake of the closure of The Vindicator in Youngstown, Ohio. Send tips to email@example.com or via Twitter to @jesslhardin.