The JLL research team recently dove into the latest apartment deliveries in the northern Dallas suburbs to break down assets along the Dallas North Tollway and the US 75 corridors. JLL notes that rents are up significantly in the last few years, with the newest offerings setting a watermark, especially along the Tollway.
Even though effective rents are way up, occupancy has slipped, coming down from 94% to 95% into the high 80s. Those softer conditions have impacted the ability of owners to push rents any further.
Read more...Multifamily Effective Rents Are Up While Occupancy Slips via GlobeSt