The Dallas/Fort Worth multifamily market continued to grow in the fourth quarter of 2013. Asking rents edged up and the vacancy rates declined, creating a favorable context for multifamily to thrive. Effective rents climbed 4.1 percent to $861 per month in 2013, building on a 3.5 percent gain during the previous year, according to Marcus & Millichap’s Fourth Quarter Apartment Market Report.
In the Dallas half of the Metroplex, apartment vacancy plunged 80 basis points during the past year to 5.3 percent in the third quarter. Fort Worth followed a similar trend yet with more modest gains as vacancy retreated 20 basis points to 6.4 percent.
Read more...Dallas-Fort Worth Multifamily Growth Poised to Continue in 2014 | Multi-Housing News Online
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