Rent growth marked its fifth consecutive month of appreciation in Dallas, rising 0.2 percent on a trailing three-month basis through January to $1,225, reported Yardi Matrix in its Dallas report. Employment growth posted a 3.3 percent contraction in the 12 months ending in November, well above the –7.2 percent U.S. rate.
At the submarket level, rents in the Fort Worth subregion held up best, with prices contracting in only one area, while the figures in its most expensive submarket, Hemphill, rose 1.3 percent to $1,506 year-over-year through January. In suburban Dallas, South Downtown — the most sought-after area — posted the worst performance in the subregion, marking a 4.1 percent contraction, to $1,796. In North Dallas’ most expensive area, Uptown, rents also fell, dipping 1.6 percent to $2,027.
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