Rent Growth To Slow By Almost Half As DFW Delivers 29,000 Units Of Multifamily In 2017
Axiometrics predicts effective rent growth of 2.7% in Dallas and 2.9% in Fort Worth next year, compared to 4.3% and 5.7% for the first 11 months of 2016.
While moderation hit the nation as a whole, DFW maintained strength, Axiometrics VP of analytics Jay Denton said. Supply will peak in 2017, and an influx of construction could cause rent growth to decrease.
The Dallas area, including Plano and Irving, will deliver more than 24,000 units next year, about 7,000 more than 2016. Fort Worth will deliver around 5,000 in 2017, about double from this year.
Fundamentals still look strong, with occupancy across DFW higher than the national average of 94.6%.
The biggest demand factor for multifamily occupancy—job growth—looks good for DFW in 2017, but time will tell.
