March 2008

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Dallas/Fort Worth market occupancy inched up in March, therefore area occupancy remains toward the lower end when compared to the major Texas markets.  Rental rates in the Dallas/Fort Worth area remained the same and are still second only to those found in Austin.  Absorption of 760 units by the Dallas/Fort Worth area in March was the second strongest monthly absorption figure of the four major Texas markets.

Dallas/Fort Worth apartment market occupancy increased 0.08 points in March to 90.45%.  With the monthly gain, area occupancy remains 0.64 points above last year’s level.  Rents per square foot remained the same over the month at $0.882, which represents a $0.009 psf annual gain.  Rental rates per unit posted a monthly increase, raising $0.24 to $749.14.  Over the last twelve months, rent per unit has increased $8.18.  Absorption in March was 760 units, while annual absorption stands at 8,298 units.

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O’Connor & Associates / Research & Consulting Group
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