Fort Worth and Dallas apartment rents dropped slightly in October, though both metro areas’ rent-growth performance continued to rank among the nation’s highest, according to Axiometics, a Dallas-based apartment and student housing market research firm.
“Though DFW rents are rising at a slightly lower rate than they were a year ago, the moderation has not been as steep as the national market’s,” said Jay Denton, the firm’s senior vice president of analytics, commenting in a news release.
Effective rent in the Fort Worth area rose 5.8 percent in October 2016 compared to the same month last year. Meanwhile, the Dallas rate rose 4.2 percent in the same period.
October occupancy rates in Fort Worth dropped from 95.8 percent in October 2015 to 95.5 percent in the same month this year. The same period saw rates drop slightly in Dallas, from 95.5 percent to 95.1 percent.