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Atlanta developers seeking incentives may have to accept housing vouchers

Over the past few years, Atlanta has experienced steep hikes in apartment rents and home prices. Most renters in the metro area now pay above $1,600 per month, more than 25% higher than two years ago, according to ApartmentData.com. The average rent for an apartment in Intown Atlanta is closer to $2,000 per month. Homeownership in every metro Atlanta county is unaffordable, according to the Federal Reserve Bank of Atlanta.

Atlanta Business Chronicle (November 22, 2022) - Read The Full Article

Barvin completes first apartment development near Texas Medical Center

While overall apartment occupancy in the neighborhood is down slightly from a year ago, new buildings are attracting tenants. The newest and nicest apartments, known as Class A, have fared better as high home prices and rising interest rates have pushed some would-be buyers into rentals, said Bruce McClenny, a senior director with MRI Software, parent company of ApartmentData.com.

Houston Chronicle (November 8, 2022) - Read The Full Article

Historic Jackson Square apartment building in Galveston trades hands

At 91.8% occupancy, the Dickinson/Galveston apartment submarket is doing slightly better than Greater Houston overall. The submarket includes 12,741 units in 157 properties, according to ApartmentData.com, and the average monthly rental rate is $1,157 — significantly lower than the Greater Houston average of $1,261.

Houston Business Journal (October 20, 2022) - Read The Full Article

Homelessness surge among families in Fort Worth prompts urgent search for shelters

But now, with the eviction moratorium over and no more rent relief money available, families making low wages are facing surging rental costs and limited apartment availability. The cost of housing has increased nationwide but is particularly acute in Dallas-Fort Worth. In the Metroplex, average rent increased 18.8% last year, according to ApartmentData.com.

Fort Worth Star-Telegram (October 18, 2022) - Read The Full Article

Housing market reset arrives at Denton’s doorstep

Checking ApartmentData.com, the available choices in Denton are still pretty expensive. For anything built in 2010 or later, you’re currently looking at $1,300 per month or more for a decent one-bedroom apartment. A two-bedroom, two-bath will likely set you back $1,600 or more in monthly rent. There is more new supply coming to the market, but rents have been sticky this year.

Denton Record-Chronicle (October 18, 2022) - Read The Full Article

CRE Hot Spot Sees Activity Begin To Fizzle As Recession Concerns Mount

The multifamily industry, widely held as the regional darling of CRE, has seen rental rate growth steadily decline since June, according to ApartmentData.com. And while still significantly above its historical average, the company predicts that annualized rent rate growth of 13.8% is expected to drop to somewhere around 8% by the end of the year.

“2023 is shaping up to be a year when flat [growth] might be considered a win,” ApartmentData.com President Bruce McClenny said in a statement. “Recall that 2021 was a year that pushed through at least three years of growth.”

BISNOW Dallas-Fort Worth (October 14, 2022) - Read The Full Article

Sandy Springs auto center to become apartments despite mayor’s hesitation

The average asking rent for an apartment in the area around Sandy Springs and Dunwoody now hovers around $1,800 per month, about $200 higher than the average for all of metro Atlanta, according to ApartmentData.com. In August, the median sales price for a Sandy Springs home was $522,750, which represents year-over-year growth of 11%, according to Redfin.

Atlanta Business Chronicle (October 10, 2022) - Read The Full Article