- The Dallas-Fort Worth multifamily market posted a strong year in 2018. Employers in the area were particularly active in expanding payrolls, fueling renter demand for apartments.
- Rents rose 4 percent in 2018, ending the year at $1,123 per month. Rent growth is being supported in part by the delivery of new, more expensive units to the market.
- The local investment market has remained very consistent in recent years, and sales velocity was steady throughout 2018. A broad mix of properties have changed hands, and there have been wide ranges in per-unit prices. Cap rates compressed by approximately 30 basis points in 2018, averaging in the low- to mid-5-percent range.
- Vacancy ended 2018 at 5.5 percent. The rate rose 70 basis points from the third quarter to the fourth quarter, but vacancy is lower than one year ago. Vacancy has remained in a fairly tight range since year-end 2016. Vacancy increased at the end of the year in response to a high number of new deliveries in 2018.