Dallas-Fort Worth apartment rents top $1,400. Here’s what experts predict for rest of year
If you think a Fort Worth apartment would make an affordable place to wait out the area’s brutal housing market, think again.
In the last 12 months, rent prices jumped 17.3% in Dallas-Fort Worth, second among Texas metros only to Austin, where rent grew 18.6%, according to ApartmentData.com.
The average rent for an apartment in DFW is now $1,455 a month. It’s already jumped $70 or 5% since the beginning of the year.
“Rent growth for 2022 is forecast to ease significantly from 2021 levels but run stronger than the long-term average,” the report read.
In the Fort Worth area, rent is highest in Grapevine, Roanoke and Keller, where it jumped to $1,679 -- an increase of nearly 7% since January.
Meanwhile, DFW apartments are still getting rented out swifter than they’re being built.
In the last 12 months, more than 38,000 rental units in DFW became occupied — leading the large Texas metros. Nearly 28,000 units came online since this time last year, and more than 19,000 are under construction.
The apartment occupancy rate in DFW has slipped to 93.2%, from 93.4% in January.
Among Fort Worth areas, the Saginaw area had the highest occupancy rate: 95.6%.
