If you have lived in an apartment in the Dallas/Fort Worth region, you know that paying for a peace of security and safety does not come cheap no matter where in the metroplex you decide to live. Last year, 2014, rents reached an all time high in North Texas. According to Jenny Doren and Sandra Baker of WFAA and the Star- Telegram:
“Rents rose 4.9 percent in 2014 and now the average monthly rent for an apartment in Dallas-Fort Worth is $919, said MPF Research in Dallas.
“Annual increases above 4 percent are rare in this market,” said Greg Willett, an MPF Research vice president. “Because we’re such a construction hot spot, the flow of new product moving through initial lease-up normally holds rent growth below the national norm.”
Locally, however, renters were leasing up units almost as fast as they came on the market, Willett said. Renters leased 15,226 units during 2014, when 15,575 units were completed, making North Texas the strongest market nationwide.”
I would to talk to you if you are considering purchasing a home in 2015. Let’s get you on a Royal Plan today to see where your new avenue awaits you at. Contact me via phone or email at 972.813.9788 or atfowler@NewAvenueRealty.com.
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Doren, Jenny, and Sandra Baker. “N. Texas Apartment Rents Reach an All-time High in 2014.” WFAA. N.p., 6 Jan. 2015. Web. 26 Jan. 2015.