THE DALLAS-FORT WORTH
APARTMENT MARKET
Dallas and Fort Worth are major cities
in the United States, and they continue
to grow rapidly. Job growth in Dallas has
increased at a rate of 5.3% over the past
year, and continues to advance, while
the Fort Worth grew most job sectors by
11.9%. Why are jobs booming in this area?
What is driving families and workers in at
an increased growth rate? For one, Dallas
and Fort Worth have always sported some
of the largest populations in America.
Dallas alone is the ninth largest city in the
country. Since 2010, the city has grown
by over 528,000. Because of this, the job
and housing markets continue to improve.
The city is home to the largest column-free
sports park in the world, as well as several
other internationally famous parks, events,
and venues. DFW operates 406 parks that
cover over 21,000 beautiful acres of recreation land. No matter what reason pulls
new residents in the most, it is clear that
most of them will be renting apartments for
their first stay in the big city.
The DFW Metroplex is the fourth largest
metropolitan region in the United States,
and has been rated #21 in best places to
live in the country by U.S. News. One of the
reasons why new residents are choosing to
move to this area is due to the fact that the
cost of living is so low. The cost of living
index averages at 69. 28, with 100 being the
national average - this is surprisingly low,
making it a very affordable place for new
families, young entrepreneurs, or anybody
looking to start out fresh in a new city. The
cost of living in the DFW Metroplex is more
than 30% lower than New York or Chicago!
And since there are no personal or corpo-
rate income taxes in the state of Texas, the
Dallas-Fort Worth cities have some of the
highest disposable salaries in the country.
So what does this information show? It shows
that living in Dallas-Fort Worth is affordable,
sustainable, and the right choice for new
families or businesses. The Dallas Uptown
Girls, who provide a premier apartment
locators service as part of Dallas Apartment
Finders, call for you to choose apartments
over houses in order to “simplify your life”.
The apartment scene offers affordable rent
and amenities, and more convenient access
to all of the metropolitan areas and transportation hubs.
What do all of these simplicities and
amenities actually cost, and what makes
them unique? According to AMLI Resi-
dential, all apartments are “surrounded by
incredible shopping, vast entertainment
opportunities, and several outstanding sports
venues”. AMLI Residential currently has 12
apartment communities in the Dallas-Fort
Worth Metroplex, and focuses on the devel-
opment, acquisition and management of
multifamily residential communities across
the United States.
In the suburbs, you can find a one or two-bedroom apartment starting at $960. Closer
to the heart of the city, apartments start at
$1100 and can range to $3150. If you’re lucky
enough to find an apartment right in the
center of downtown Dallas, you can expect
to pay up to $1000 for a one-bedroom unit, or
$3000 for a three-bedroom.
The apartment market in the Dallas-Fort
Worth region is competitive, but rapidly
growing to accommodate new and interested
residents. According to the National Multi-family Housing Council, 41% of all housing
in the city of Dallas consists of apartments.
Since 2014, over 1100 new units have been
constructed. The DFW Metroplex has a
balanced mix of old and young housing
stock. Almost 8200 new apartments were
constructed in Dallas in 2015, and this year
the city has received the largest new DFW
apartment volume since 1999. Over 22,000
new apartments have been scheduled as new
construction projects in the upcoming year,
making Dallas-Fort Worth a viable and desirable location for new home opportunities.
Photos courtesy of AMLI Residential
