Dallas-Fort Worth is first nationwide in projected apartment construction in 2020, beating out New York City and all U.S. metros for the third year in a row.
And an analysis of renter migration patterns nationwide indicates the DFW apartment market has been more stable than most since COVID-19 began affecting the multifamily sector.
Those were among the takeaways in two reports that came out this week that shed light on how the pandemic has impacted the national and local multifamily market.
A renter migration report published by Apartment List found that 25.8 percent of those looking for a place to live in DFW are searching from outside the metro, compared to 26.6 percent at this time last year. Some 16.6 percent of apartment hunters currently living in DFW are looking to move elsewhere, compared to 16.4 percent last year, the report found.
Compared to metros nationwide, that’s a relatively small percentage of DFW renters who are looking to leave, Rob Warnock, research associate at Apartment List, said in an interview with the Dallas Business Journal.
In addition, the fact that the percentage of apartment seekers targeting DFW from outside the market hasn't changed much suggests COVID's impact on the DFW market is relatively low, Warnock said.
“Dallas in particular is one of the markets that looks pretty stable compared to some of the more dramatic changes that we’ve seen in places like San Francisco or Boston or New Orleans,” Warnock said.
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