Rent prices increased 12.6 percent in Oak Cliff and West Dallas in the past three months, according to new data.
It was the highest increase out of 37 Dallas/Fort Worth regional submarkets, according to data from ApartmentData.com, reported in Bisnow:
After Oak Cliff and Trinity Groves, the hottest rental markets in terms of rent growth were East Fort Worth/Woodhaven/I-30 (10.1% increase), Grand Prairie (9.6%), Allen/McKinney (8.3%) and North Dallas/Addison (9.7%), the report said.
The apartment occupancy rate in Dallas is at about 91.5 percent, with the average price per month at $1,136.
About 20,000 new apartment units have opened in the Dallas area in the past year. About 111 new apartment complexes currently are under construction, which will add another 32,000 units. And 82 new complexes totaling 37,000 units have been proposed.