Boom! Rents in West Texas oil patch increase 21.3 percent in 2018

Think your rent is going up in the Dallas-Fort Worth area? Try Midland-Odessa, where the growth in the Permian Basin oil boom has caused rents to accelerate 21.3 percent.

The annual pace of U.S. apartment rent growth accelerated to 3.3 percent in the fourth quarter, according to Richardson-based real estate technology and analytics firm RealPage Inc. (NASDAQ: RP). Momentum in annual rent growth proved substantial in the last half of the year, pushing 2018’s performance ahead of the 2.5 percent growth recorded in 2017.

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