Updated over 12 years ago on . Most recent reply
North Texas Rental Market is HOT HOT HOT
Damn I wish it would slow down. :)
I have 1 year leases and cannot play catchup on the rent increases fast enough!
The biggest shocker was my section 8 rental in a blue collar neighborhood. I have been getting $1,095 for years and prices never went anywhere. Now comps show I could get $1,295 at the upper end of the range so I applied for a rent increase to $1,295.
They said yes and came back with a range of between $1,334 and $1,556! I knew section 8 paid a premium but not that much? I left $250 sitting on the table! All up I could have raised the rent $450 or 40% ...
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Wow that's incredible and 30% above my local region. I wonder if there is data about where new residents are coming from. Do you have that data?