Rent and inflation rates across the country are on the rise, and now more DFW tenants are losing their homes due to non-payment, according to data from the North Texas Eviction Project (NTEP).
The rising trend of evictions could continue the spiral of upward housing costs, according to real estate magazine The Real Deal.
The NTEP data suggests the end of pandemic-era relief programs is a contributor to the increased evictions.
“Now that those are gone, the assistance programs are beginning to dwindle,” said Marc Moffitt, a licensed realtor and real estate professor at UNT. “Cost inflation is hitting people in the pocketbook, and it’s becoming more and more difficult to pay that rent.”
More than 86,000 evictions were filed between January 1 and June 3 across North Texas, according to the NTEP data. Of those, 40,000 were in Dallas alone.
“Renters are in a very difficult situation right now because the two options that they have are to face higher rents or to go out and buy a home,” Moffitt said.
Moffitt also pointed out that most property owners aren’t eager to initiate eviction proceedings if they can avoid it.
“Most property owners and managers don’t want to go to court. They want to try to work things out. They just want to be paid. So if you could stay in communication and you can pay something and keep them apprised of what’s going on, generally speaking, that’s going to work out better for you,” Moffitt said.
As rent rises and eviction moratoriums come to an end, The Real Deal reports landlords may see more value in evicting residents and renting to new tenants at higher rates as a way to recoup their losses.
