According to RentCafé, new apartments are springing up across the Dallas-Fort Worth (DFW) area, and the rest of the state as well.
An estimate by RentCafe has 22,196 to be constructed as soon as the end of 2019 in the DFW metro area – easily out pacing any other metro areas in the country. Seattle with 13,682 new units is a distant second, just ahead of New York City’s (NYC) 13,418 new units in the works for this year. In 2018, NYC occupied the No. 1 position for new apartments.
This is not a case of “if you build it, they will come,” as it appears that “they” are already here! Over 80,000 new residents have arrived in the Metroplex each year for five years in a row and keeping up with demand for apartments has been a challenge.
Brochure printing is used by most developers of new houses, condos, and apartments to sell or rent as many units as possible prior to a building projects completion.
Most of Texas is showing higher numbers for new apartment units, with Austin coming in at No. 5 and Houston securing the No. 10 slot on RentCafe’s list. The state is bucking a national trend, however, as the US overall is in a downward spiral as far as apartment construction is going.
New apartment space is based on market data gather by software company Yardi Matrix, which tracks multifamily properties over 133 U.S. markets.
