Apartment construction continues on the 2600 block of East McKinney Street in Denton.
North Texas is booming, and according to RENTCafe, Denton is one of the top 10 hottest markets for an apartment in the Dallas-Fort Worth area in 2018.
In a prediction by RENTCafe, a nationwide internet listing service that enables renters to easily find apartments and houses for rent throughout the United States, Dallas Fort-Worth is ranked second among the top 20 metropolitan areas in projected apartment deliveries.
New York City is ranked first.
“Dallas-Fort Worth metro is second only to New York in terms of apartment construction, outpacing other metros like Denver and even Los Angeles and Chicago with over 17,000 new units projected to come online by the end of this year,” said Ioana Popovici, communications specialist for RENTCafe. “The other two Texas metros that make the top 20 are Austin with over 8,800 new apartments and Houston with over 7,600.”
Texas has been leading the nation with more than 37,000 combined units slated for delivery in 2018 in Houston, Dallas-Fort Worth, Austin and San Antonio, Popovici said.
In Denton, which ranks 10th in the Dallas-Fort Worth area for apartment construction, apartments and other multi-family housing have been popping up at Rayzor Ranch Town Center and the Unicorn Lake area as these developments continue to grow, as well as townhomes located off of East McKinney Street.
Ron Menguita, long-range planning administrator for the city of Denton, said the addition of the mix of houses satisfies part of the Denton 2030 plan by offering an array of homes at affordable prices.
For example, the townhome development on East McKinney offers the type of home for someone who wants a small lawn, or no lawn at all.
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“There are future townhome and other housing developments to the south of town being proposed as we speak,” Menguita said. “There will be more coming.”
In Rayzor Ranch, there are townhomes, apartments and patio houses being built that will open in the next five years, he said.
Although there will be about 283,000 apartments completed nationwide by the end of 2018, a decrease of 11 percent since 2017, Popovici said the past three years’ total deliveries are projected to pass the 900,000 mark by the end of this year, making it the highest since the mid-1980s.
“We want to be able to offer different people different options,” Menguita said. “So far, the discussions are good.”