A single worker getting Texas' minimum wage of $7.25 an hour would gross $1,160 working four 40-hour weeks. That's $11 less than the average rent in the city of Dallas. Layer onto those stats news from a recent report showing that last year, almost 100 percent of the apartments built in Dallas-Fort Worth were high-end units, spurred in part by the increasing cost of labor and construction materials.
Occupancy rates are strong across all apartment segments in Dallas, even in the face of higher rents. That shows that the market has yet to hit "oversupply" territory. Class A properties have a lower occupancy rate because more are new builds seeking to fill up.
Read more...Can you afford rising rents for Dallas apartments? via Dallas News
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