"Rents rose 4.9 percent in 2014 and now the average monthly rent for an apartment in Dallas-Fort Worth is $919, said MPF Research in Dallas.
"Annual increases above 4 percent are rare in this market," said Greg Willett, an MPF Research vice president. "Because we're such a construction hot spot, the flow of new product moving through initial lease-up normally holds rent growth below the national norm."
Locally, however, renters were leasing up units almost as fast as they came on the market, Willett said. Renters leased 15,226 units during 2014, when 15,575 units were completed, making North Texas the strongest market nationwide."
I always advise those who are paying more than $1,000 in rent to consider purchasing their own home. The benefits in purchasing outweighs the benefits of owning. There are no apartment rules to follow, no additional fees, and no paper thin walls to hear your neighbors conversation.
I would to talk to you if you are considering purchasing a home in 2015. Let's get you on a Royal Plan today to see where your new avenue awaits you at. Contact me via phone or email at 972.813.9788 or atfowler@NewAvenueRealty.com.
Find your new avenue here: New Avenue Realty
Doren, Jenny, and Sandra Baker. "N. Texas Apartment Rents Reach an All-time High in 2014." WFAA. N.p., 6 Jan. 2015. Web. 26 Jan. 2015.