DALLAS (Dallas Morning News)– After a slow first half of the year, the Metroplex posted a surge in apartment leasing during the third quarter.
According to the most recent data from M/PF YieldStar Inc., almost 7,000 apartments have been rented since the end of June, pushing overall apartment occupancy in the area to more than 94 percent, the highest level in six years.
Developers started 2,384 apartments in the third quarter, bringing construction totals for the year so far to 5,534 units.
More than 13,000 apartments are in the construction pipeline, with the largest concentration of new units in central Dallas and in Irving's Las Colinas development.
This quarter, the average rent is $724 a month, up 2.3 percent from a year ago.
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