January 2014

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Market Summary

  • The key metrics for the Dallas/Fort Worth area multifamily sector recorded significant changes both over the month and over the year.

  • Over the month all the classes recorded mostly a downward trend in terms of occupancy. Class A properties recorded a decrease of 0.02% over previous month. Also on a year-over-year basis Class A properties recorded a decrease of 0.57%. The largest annual increase of 1.47% was noted for Class C properties.

  • The average rental rate per square foot continued to increase marginally on a monthly basis for individual classes. Class A properties reported an unchanged figure over last. On a monthly basis Class B properties recorded the largest figure of $0.003 per square foot from previous month. The largest annual increase of $0.028 per square foot was noted for Class A properties.

  • The average rental rate per unit for all classes recorded significant changes both over the month and over the year. Class A properties recorded a marginal decrease reporting $0.27 per unit over the month; to close at $1,080 per unit. The largest monthly increase was noted for Class B; an increase of $2.07 per unit. The largest annual increase was noted also for Class A properties; the average went up by $21.86 per unit, followed by Class B with an average of $21.38 per unit.

  • 9,894 units are in the construction pipeline, spread over 36 projects. Over 3.20% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

92.82%

 Rent / Unit

$814.36

 Rent / SF

 $0.954

 Monthly Change

-0.05%

 Monthly Change

+$0.99

 Monthly Change

+$0.002

 Annual Change

+0.49%

 Annual Change

+$22.08

 Annual Change

+$0.028

Absorption in Dallas for January 2014 was negative (126), bringing the annual total to a positive 6,073 units. 4,930 units are in the planning stage.

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O’Connor & Associates / Research & Consulting Group
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