January 2012
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Market Summary
- 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 Key Metrics |
Occupancy |
91.31% |
Rent / Unit |
$770.99 |
Rent / SF |
$0.901 |
Monthly Change |
-0.07% |
Monthly Change |
+$0.62 |
Monthly Change |
+$0.001 |
Annual Change |
+1.17% |
Annual Change |
+$5.95 |
Annual Change |
+$0.007 |
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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