Fort Worth, which very rarely makes the list of the country’s stronger apartment rent growth performers, is logging impressive numbers right now. Annual price increases for new leases reached 3.9% as of 3Q, topping the national norm of 3.2%.
The key story in Cowtown’s strong momentum lies in middle-market product, particularly the metro’s very large base of 1980s-era units. These communities posted rent growth averaging 5.0% during the past year. In the submarkets where this 1980s-vintage product niche is especially large, rents went up 6.9% in Southwest Fort Worth, 5.3% in Arlington, 4.1% in East Fort Worth, and 4.0% in Hurst/Euless/Bedford.
Read more...Middle-Market Apartments in Fort Worth Post Big Rent Growth | Property Management Insider