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Dallas Renters Face Stiff Competition
RentCafe has released a survey detailing the Dallas rental market so far in 2024, Here’s a snapshot of Dallas’ rental competitiveness in peak rental season 2024. Some of the highlights follow:
Finding a rental apartment in Dallas was quite hard this busy summer because an apartment stayed on the market only for 39 days.
The challenges of securing a rental here in peak season led to 8 renters competing for each available apartment. Nationwide, the most intense competition for apartments was in Miami, where 18 renters competed for each unit this summer.
In recent months, new construction contributed 0.72% to Dallas’ housing inventory.
However, due to high demand, these units were rented out almost as quickly as they became available.
Also contributing to the market’s competitiveness, 59% of apartment dwellers renewed their leases, keeping the occupancy rate for apartments at 92.4%.
- ◦Economy
