Apartment rents in Fort Worth continue trending up and demand is high – even as thousands more units are being built, experts say.
In some upscale communities along West 7th Street, a three-bedroom apartment rents for $4,000 a month.
Realtor Rhonda McLaughlin said she’s never seen the market so hot in her 35 years of hooking up renters with apartments.
“It’s exploded,” she said. “I mean you’ve got the river district, you’ve got the medical district, you’ve got 7th Street, which really started all of it.”
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Two new communities are going in downtown on Summit Street, McLaughlin said.
“It’s busy and they’re full,” she said. “They’re leasing them quickly.”
And thousands of new apartments are being built.
Renee Jacobson, a manager with Apartment Locating Specialists, said 7,760 units in Fort Worth are either under construction or the tenant’s leases are up. That doesn’t include 4,200 additional units that are planned, she said.
“I’ve never seen it like this,” she said. “It’s really tough for renters.”