Dallas-Fort Worth Q1 Multifamily Market Report: Job Growth Gains Momentum, Fueling Renter Demand
Highlights:
- Many of the trends in the Dallas-Fort Worth multifamily market that prevailed in 2018 carried over to the first quarter of this year. Employers accelerated their pace of payroll growth, fueling demand for apartments. Construction of new units remained active.
- Employment growth in Dallas-Fort Worth accelerated in the 12-month period ending in the first quarter, with 105,900 net new jobs added, a 2.9 percent gain.
- Rents are on the rise, advancing 4.4 percent in the past 12 months to $1,131 per month at the end of the first quarter.
- Investment activity has been very consistent in recent quarters. Sales activity during the first quarter closely tracked levels from one year earlier. The median price and average cap rates were similar to figures from 2018.
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