First quarter of 2009 was not the best for Dallas Fort Worth apartment landlords. Overall apartment occupancy dropped down by more than 2000 units, according to a report released on Thursday by M/PF Yieldstar. Same report says that since March 2008 total apartment occupancy in North Texas dropped more than 7000 units. Main reason is the slowdown in local economy; and the situation most likely will get worse, analysts say. Average rent is $755 a month. Almost 26,000 additional apartment units are under construction in Dallas' northern suburbs including West Plano, Frisco, Mckinney, Allen and Dallas neighborhoods Uptown, Downtown and Oak Lawn.

Currently in Las Colinas, Irving there are over 1500 units under construction.

The apartment sector was one of the best real estate markets in North Texas until last year.

Tags: allen, apartments, average, construction, dallas, frisco, irving, landlords, las colinas, market, mckinney, plano, Real Estate, rent, under

This entry was posted on Monday, April 6th, 2009 at 5:06 am and is filed under Local News. You can follow any responses to this entry through the RSS 2.0 feed.