fort worthWe talk a lot about the downtown Dallas skyline and the amazing views you can get from high-rise life there, but in today’s look at available rentals, we’re trekking over to downtown Fort Worth, and the Neil P.

We’ve talked about the Neil P. before — our Eric Prokesh took a look at the building’s history when he wrote about a ninth-floor unit that was for sale. The historic building had it’s beginning as the Neil P. Anderson Cotton Exchange, designed and constructed by the leading Fort Worth architectural firm Sanguinet and Staats in 1921. (more…)

Bishop ArtsIf you’re looking to live near Bishop Arts, but have struggled to find something at a reasonable price point, we may have the rental for you.

This adorable blue and white house sits on Kings Highway, close to Kessler, Bishop Arts and Winnetka Heights — and the rent is well worth the ability to hop on your bike and ride over to plenty of shopping and dining (no valet worries for you).

This upstairs unit, listed by Will Butler with Butler Property Company, has been completely redone — hardwood floors throughout, a brick fireplace, and neutral paint colors provide a perfect backdrop for your own furnishings and decor. (more…)

rents

From staff reports

Dallas rents are rising, but are still doing so at a rate below the national average, the December 2018 Dallas Rent Report from ApartmentList.com revealed today.

Year-over-year, Dallas rents have increased by 1.1 percent, with median rents at about $890 for a one-bedroom apartment, and $1,110 for a two-bedroom. That year-over-year growth is less than the state average of 1.4 percent and the national average of 1.3 percent.

In November, Dallas rents remained flat. (more…)

flippedBy Linzi Martin
Rent.com

As a renter, finding a flipped property can be great. After all, you’re moving into a recently renovated space that’s clean, modern, up to code and generally more visually appealing, right? Unfortunately, that’s not always the case.

Some flipped properties are done very quickly, and in the process, hazardous shortcuts might have been taken. It’s important to know what to look out for when renting a flipped property so you can ensure you’re getting a property that’s been cared for rather than neglected. Here are five things to consider when renting a flipped property.

1. Water damage

Water stains on walls, floors or ceilings are a strong indication that an underlying problem was covered up and not addressed. This could be caused by an internal leak from a pipe or cracks in the exterior. (more…)

What would it take to get Amazon to locate it’s HQ2 here in Dallas? Jon Anderson says you don’t want to know, and we shouldn’t be so sure we want the e-retailer here anyway.

And according to new stats from ApartmentList, if Seattle’s fallout from HQ1 is any indication, Dallas and Austin renters should expect a bump in cost of living should Amazon HQ2 land in these major Texas metro areas.

(more…)

With new home construction getting more expensive and bidding wars erupting over homes on the affordable end of the spectrum, many new transplants to the Dallas-Fort Worth area — approximately 143,000 of them from 2015 to 2016 —are turning to apartments to meet housing needs in the interim. And while we’ve done a less-than-stellar job of keeping the supply of homes for sale on par with demand, an apartment building boom has filled the gap — almost too well, in fact.

With almost 25,000 apartments set to hit the market in before the close of 2017, Dallas-Fort Worth (24,960 units) comes in a close second to New York City (26,739 units) in the march toward more rentals. According to RentCafe’s analysis of data from the National Multifamily Housing Council, apartment construction is at a 20-year high, with 345,000 units slated to hit the market by the end of the year — a 21 percent increase over last year’s deliveries. 

Of course, the hope is that with all of these new apartments reaching completion, rents will soften and stabilize, leading to more affordable rentals. 

(more…)

Rents are up again in June, according to various reports released last week. But the severity of the situation varies, depending on which report you read.

Numbers released in the National Apartment Report by Abodo.com show median rents for one-bedroom apartments in Dallas rose 5.12 percent since last month. Five percent in a month! That’s the seventh highest rent increase for a metro area in the country. But their data comes strictly from their own listings, which may be the grain of salt we need to take with this. Private listings tend to feature more luxury apartments, which skews the rental data toward costlier properties.

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DFW rent prices

If it feels like you’re paying a lot for rent, you’re probably right: huge demand for DFW apartments in 2016, coupled with a shortage of supply, has pushed rents and building occupancy to record levels.

DFW rent prices are now averaging almost $1,100 a month, according to MPF Research. Add to that a vacancy rate of under 4 percent, and you’ve got demand at an all-time high. The past year’s demand total for apartments in North Texas jumped to 27,120 units, up sharply from the 2015 volume of about 17,000 units.

Fort Worth ranked sixth in the nation for rent increases in 2016, going up 6.7 percent over the previous year. Dallas was close behind, at number 11, with a 6 percent increase over 2015.

“With out apartment clients, we’re getting a lot of people relocating who are unsure if they want to buy or not,” said David Maez, co-founder of Vivo Realty Group. “I think we going to see competitive rent prices continue, even with the inventory that’s coming up.”

There are now almost 50,000 apartments under construction in North Texas, which is about 9 percent of nation’s building activity. That’s the country’s biggest block of product on the way by a large percentage, according to RealPage. About 29,000 of those apartments scheduled for completion in 2017.

“Dallas-Fort Worth is the country’s top spot for apartment demand by a huge margin, which speaks to the strength of the local job market and household formation pace,” said RealPage chief economist Greg Willett. “There’s a great mix of expansion in both the urban core and the suburbs.”

(more…)