Dallas Fort-Worth Luxury Multifamily Market Rent Rates Are High to Say the Least
Multifamily market rents are as high as ever in Uptown Dallas. Most of these properties are high-rise luxury or high-end apartments.
According to Bisnow, the most visible new project is the Residences at Park District. The luxury 34-story residential tower is the tallest apartment building in the city and the average rent is a whopping $4,900 a unit or $3.72 per square foot. The Ardan is another luxury apartment building that just opened and is ready for leasing.
DFW also has thirteen thousand square feet of retail space in the $300 million Park District development. There are two other high rise properties still under way.
The vacancy rate is the only thing low about these properties with occupancy at 93.3%.
Dallas and Fort Worth are two of the six cities that saw nothing but high-end apartment construction in 2017. To read more in detail about this subject click here.