DFW apartment absorption was strong, and rents rose in the first quarter, according to ApartmentData.com. Demand is generally sluggish in the first quarter, but absorption exceeded expectations with a total of 5,727 units absorbed, up from 2,009 units in the fourth quarter. Average monthly rents in DFW ticked up to $1,193 per unit, up 1.6 percent year over year (Chart 4). Rent concessions were ongoing, largely in Class A properties. Occupancy rose as well to 91 percent; however, it remained extremely low in Class A properties that were in the lease-up phase.
Read more...Dallas-Fort Worth Economic Indicators April 2021 via Dallas Fed