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We talk about the impact of rising home prices all the time, but that’s only half the affordable housing story. Across the country, rents in suburban areas also show dramatic increases over the last year, with no signs of stopping.

A recent study from RentCafe shows that while urban Dallas continued to post fairly consistent rent increases in 2016 (5.9 percent), the farther you travel away from the city, the greater the hikes renters experienced. In Dallas proper, rental housing remains relatively affordable when compared to the rest of the Metroplex (and the country, as a whole). We have all that apartment construction to thank for that. More than 6,000 new apartment units became available in 2016, alone.

But in Fort Worth, where apartment inventory has stagnated, rents grew 6.3 percent over 12 months. And that’s nothing compared to areas like Weatherford and Midlothian where rent skyrocketed over 10 percent in 2016.

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Y-o-Y-increase-in-renter-occupied-vs-owner-occupied-households-2014vs2015There is a new buzz word in real estate: Over Renter.  This term is used to describe individuals or families that make $150,000 or more annually that choose to rent a home or apartment in lieu of purchasing a traditional home.  These high-income renters certainly can purchase a home but elect to pay top dollar for renting smaller, more conveniently located living spaces … and they are happy about it.

According to a recent study by RentCafe, in the Fort Worth market alone, the number of  high-income renters has increased 77 percent since 2014.

As Fort Worth continues to increase in population, the number of renters and buyers should continue to remain at a high level.  The question remains, “is this a good thing?”

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