North Texas has had one of the busiest apartment building markets in the country for the last few years.
The construction of thousands of new apartments in a short period is creating opportunities for local renters.
Dallas is now one of the top U.S. markets for apartment freebies because of all the building, according to a new report from Richardson-based RealPage.
Almost 8 percent of Dallas-area apartments are offering some kind of rental concession – usually free rent.
That makes Dallas fourth in the country for rent concessions behind Atlanta, Houston and Austin – which also have seen great volumes of apartment construction.
RealPage looked at more than a dozen major U.S. markets for its comparison.
"As of March 2018, the average rent discount among lease-up properties in these 15 markets totaled roughly – about three weeks free," RealPage analysts say in a just released study.
Free apartment rent – usually about a month – is commonly offered by developers of new apartment communities as a way to attract residents and fill new units.
Since 2015, more than 57,000 new apartments have opened their doors in the Dallas area, according to RealPage. Only the Houston area has seen more new apartments open during the same period.