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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