Dallas-Area Apartment Deliveries Affecting Rents

The Dallas-Fort Worth metro area will feel the effects of record deliveries this year. Yardi Matrix reports that rent movement has been negative for five straight months, down 0.5 percent on a trailing three-month basis in January to $1,523. Occupancy also declined, down 0.7 percent year-over-year in January to 93.1 percent. 

Developers had 67,892 units under construction as of January, with 485 units delivered during the month. However, deliveries will intensify in the coming months, as a record volume of completions is expected this year.

The Dallas job market posted the best performance among Yardi Matrix’s top 30 metros, up 4.1 percent in the 12 months ending in November, and well ahead of the 2.2 percent national rate. All sectors gained jobs, for a combined total of 140,300 positions. Professional and business services led job growth, adding 32,400 positions,