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With more than 9,000 apartment units currently being built, the Dallas–Fort Worth area has more apartments under construction than any other U.S. market.
Most of these are in the Allen-McKinney, central Dallas, west Plano and Frisco markets.
Thanks to net apartment leasing of over 6,200 units in first quarter 2010, the high rate of construction may not be a bad thing. Demand in the first quarter was the best in more than two years and compensated for the entire net apartment leasing declines in 2008 and 2009, according to MPF Research.
When the current development cycle is complete, apartment construction should stay low for a while.
MPF Research predicts that overall apartment vacancies will decline slightly this year from current levels of less than 12 percent.

Still, average apartment rents have fallen nearly 5 percent in North Texas over the past year, and 60 percent of landlords are offering some kind of rent concession to bring tenants under their roofs.

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