Some North Texas Rent Rates Dropping

July 12, 2018
Buying an apartment. Concept

NBC 5 reports Alex Doubet, CEO and founder of Door Real Estate saying, “I think for the first time in a long time, I think we are finally seeing supply of apartment units catch up to the demand really since the financial crisis in 2008."

Doubet said last quarter, approx. 7,000 apartments became available, only 4,500 were rented, and nearly 40,000 are built in North Texas.

Currently, East Dallas is experiencing some of the most significant rent price reductions, at around 3%. Is this a sign of the future for other DFW areas?

Ft. Worth is experiencing rental price hikes. Doubet says, “Fort Worth proper is super hot. You see a lot of people wanting to live downtown in Fort Worth and you just haven’t seen as many developers go into bringing online a lot of multifamily units.”

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