Nearly 28,000 Apartments Were Built In The Dallas Area Last Year
More apartments were completed in the Dallas area last year than any other major metro in the country.
The Dallas area added nearly 28,000 new rental units in 2017, according to a study by Richardson-based RealPage, a property management software company.
For comparison, New York, ranking in second place, saw 23,207 new apartments completed in 2017. Houston, the leading metro in 2016, came in third with 21,404 apartments completed last year. Austin, the other Texas city in the top 10, saw close to 11,000 new units.
"The D-FW total, including 4,546 units in Fort Worth, reached 32,520 units in 2017," RealPage chief economist Greg Willett told the Dallas Morning News. "Scheduled completions cool to 25,485 units in 2018, with 21,785 of those in Dallas and 3,700 in Fort Worth.”
More than 30,000 apartments were under construction in Dallas-Fort Worth at the start of 2018, according to the Morning News.
Nationwide, the number of apartments completed hit a 30-year high in 2017, according to the RealPage study. Among the 150 largest metros, 395,775 units were built. That beats 2016’s volume by 46 percent.
Real Page says around 300,000 units across the country are scheduled for completion this year, which is below 2017’s total but about 60 percent higher than the historical norm.