With strong demands in the region, medical office space vacancy rates in Dallas-Fort Worth are more than a percentage point below the five-year average, DMagazine reported Oct. 10.
As interest rates and material costs are rising, construction has slowed down. The report states that with limited medical office space remaining combined with population increases in the region, the rent prices will rise until new construction surfaces.
Vacancy rates in Dallas-Fort Worth were at 11.6 percent one year ago and are now at 10.2 percent.
In the healthcare market, employment in hospital spaces is up 4 percent compared to a year ago. The total available space is 13.8 percent, below the five-year average for the region.