The Dallas/Fort Worth area multifamily metrics recorded mostly positive changes in January.
Overall occupancy came down for all classes except Class B; Occupancy in Class A properties came down by 0.17% compared to December; over the year occupancy has increased by 0.98% to close at 94.36%.
The average rental rates per square foot remained unchanged over the month for Class A properties. Compared to December, the average went up by $0.002 for Class B properties. Over the year, the average for Class B went up by $0.009 to close at $0.863 per square foot.
The average rental rate per unit recorded increases for all classes compared to December as well as over the year. Over the year, the average improved by $7.66 for Class B properties; this represented the largest annual change among the four classes. The average for Class A properties increased by $5.53 per unit to close at $1,038.02 per unit.
11,686 units are in the construction pipeline; pre-leasing is underway in 2,000 units spread over 46 projects.
Dallas/Ft. Worth Apartment Market
Rent / Unit
Rent / SF
Absorption in January was negative 201 units, bringing the annual total to a positive 8,554 units. 3,799 units are in the planning stage.
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O’Connor & Associates / Research & Consulting Group