Rental apartment construction in Texas defies high vacancies and rent declines

Texas is seeing a surge in rental apartment construction due to its growing population, with Dallas-Fort Worth (DFW) leading the nation in new units. Around 40,000 units were added in the past year, but DFW's rental occupancy rate has dropped to 89.3%, causing rent decreases of up to 8%. Austin also faces an oversupply and declining occupancy. Despite this, new projects, including affordable housing, continue to be announced. Texas remains attractive for renters with larger, competitively priced apartments.