Our DFW real estate professionals know there are many benefits of home ownership over renting a home or apartment, but that hasn’t seemed to slow down apartment construction this year! In fact, Dallas-Ft. Worth is second only behind New York City in the number of apartments scheduled to be available for tenants in 2018. If you’re wondering just how many will open their doors, it’s more than 17,000 according to a new Yardi Systems report.
News reports claim that while the number of new apartments added this year over last year has declined by 11% across the U.S., there are still 283,000 apartments slated to open across the nation in 2018. In the DFW, Austin, Houston and San Antonio areas more than 37,000 apartments are expected to open their doors this year, making Texas the nation’s leader in new apartments.
New York has a slight lead in projected apartment deliveries in 2018 with 19,948, while Denver comes in third place with 15,187. Others at the top of the list include Los Angeles, Chicago, Phoenix, Miami, Atlanta and Washington, D.C.
Some people prefer apartment living for a number of reasons. No maintenance or yard work to worry about; no long-term commitment and the potential to make new friends. We understand that, but considering the average rent in DFW ranges from $850 to $1,250 per month, it makes more financial sense from our point of view to invest in a property a person will eventually own. Not everyone agrees, and if you’re one of the many who prefer apartment living it seems there are plenty available!
It’s no secret there is a shortage of single-family homes in Dallas and surrounding areas, but there are properties available for serious buyers and new homes being built as we speak! Whether you’re transferring to DFW for career purposes or simply want to raise your children in a great area with exceptional education opportunities, our Dallas real estate agents can help make your home search easier. Give Team Nelson a call today.