February 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 both upward and downward trends in terms of occupancy. Class A properties recorded a decrease of 0.12% over previous month. Also on a year-over-year basis Class A properties recorded a decrease of 0.56%. The largest monthly increase was noted for Class D properties, an increase of 0.26% over previous month, as well as the largest annual increase of 1.06%.

  • The average rental rate per square foot continued to increase marginally on a monthly basis for individual classes. Class A and D properties reported an unchanged figure over last. On a monthly basis Class B and Class C properties recorded a figure of $0.001 per square foot from previous month. The largest annual increase of $0.027 per square foot was noted for Class B 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 decrease of $0.37 per unit over the month; to close at $1,079 per unit. The largest monthly increase was noted for Class C; an increase of $0.81 per unit. The largest annual increase was noted also for Class B properties; the average went up by $20.68 per unit, followed by Class C with an average of $20.63 per unit.

  • 9,787 units are in the construction pipeline, spread over 35 projects. Over 3.24% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

92.75%

 Rent / Unit

$814.70

 Rent / SF

 $0.954

 Monthly Change

-0.07%

 Monthly Change

+$0.25

 Monthly Change

+$0.000

 Annual Change

+0.32%

 Annual Change

+$20.49

 Annual Change

+$0.026

Absorption in Dallas for February 2014 was positive (804), bringing the annual total to a positive 5,847 units. 4,930 units are in the planning stage.

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O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955  




 

 

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