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DFW Holds Top 3 Ranking Despite Multifamily Demand Backslide

DALLAS-A second-quarter analysis shows multifamily demand slipping ever so slightly in the Dallas-Ft. Worth region. The big picture is rent growth remains on the rise and construction is slowing as northeast Tarrant County emerges as the newest hotspot.

By Connie Gore | Updated on July 12, 2001

DALLAS-A second-quarter analysis has apartment demand in Dallas-Ft. Worth riding at one-third its typical showing for the past five years. Nonetheless, what is slow here would be considered hardy elsewhere, says Dallas-based M/PF Research.

The DFW region remains in the top three growth markets nationally, says Greg Willett, M/PF’s director of research products. New supply, he adds, will be easily absorbed “as long as the economy doesn’t crater.”

Overall, Willett says, “it’s a market with slowing construction that opens the door for potential market tightening in the near term.” The 95.5% occupancy posted in early 2001 had been the highest recorded since the late 1970s. Demand of 18,600 units kept ahead of the 15,080 deliveries, resulting in a point gain in occupancy in the past year. At the second quarter close, average occupancy had registered 95.2%, a slip from the first quarter but still rosy numbers for building owners.

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