Summer months are usually a strong period for apartment leasing, but not this year, Parsons said. A combination of potential renters not going ahead with leases and other renters doubling up to save money may have contributed to the decline in apartment demand.
“The biggest occupancy drops in the third quarter came in around two percentage points in Mesquite, Rockwall, Ellis County and East Fort Worth,” he said. At the end of September, average rents in North Texas were at a record $1,540 — up 13.4% from a year earlier. Parsons said he expects rent increases to moderate in the remaining months of 2022 — “still relatively high but more likely in the mid-single digits.”While apartment demand has cooled, construction has taken off. At the end of the third quarter, a record 63,562 North Texas apartments were being built.and Parsons said he expects leasing to rebound with so many people moving to the region.
It's a Democrat city...which means the crime rate is rising. That's why.
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