Dallas Rental Market Balanced
DALLAS (Dallas Business Journal) – An Apartment List report shows the city's rental market has relatively balanced supply and demand.
The report showed year-over-year rent growth in Big D was 1.8 percent. Rents are growing at a slower rate than the nation's 2 percent and the state's 2.1 percent year-over-year growth.
Some increase in rental prices is healthy and a matter of inflation, says Chris Salviati, a housing economist with Apartment List.
"Dallas has a strong economy with solid job growth driving demand, but the area has also been building a good amount of new housing to keep up with that demand," Salviati added. "For those reasons, I expect that rents in Dallas will continue to increase, but at a relatively modest pace."
The city's rental growth over the past 12 months and flat growth in the past month show builders are keeping up with demand, maintaining a healthy rental market.
The average rent for a two-bedroom apartment is $1,100, below the national average of $1,170.
Thanks for sharing @Jim Cummings !
Thanks for the info!
@Jim Cummings Good info. Thanks!
@Jim Cummings Would you agree it's fair to say that the (sellers) housing market is also helping the rental market? I'm leasing a home that is valued at around $400k, and paying close to $2k per month. No way I would buy that today. I see the same phenomenon with apts and condos.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing