Market: Dallas Rentals
Demand has been steadily increasing over the past years and supply has been increasing to match. As a result, rent has grown by 1.8 percent per year.
This increased demand has been a result of job growth. A textbook example of an increase of buyer’s income increasing the amount of people able to purchase a good, in this case, renting homes in Dallas. As this demand has been increasing, more rental housing has been built to keep the supply at the same pace. Because of the supply-demand ratios being kept much the same, price has hardly increased. Current rent rates for two-bedroom apartments are $1 100, which is less than the national average. Also, rent rates are increasing at a slower rate than the country’s average, Dallas being 1.8% and the national average being 2%.