March 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 upward in terms of occupancy. Class A properties recorded an increase of 0.12% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.58%. The largest monthly increase was noted for Class C properties, an increase of 0.32% over previous month. The largest annual increase was noted for Class D properties with an increase of 1.00%.

  • The average rental rate per square foot continued to increase marginally on a monthly basis for individual classes. Class A and B properties reported an unchanged figure over last month. On a monthly basis Class C and Class D properties recorded a figure of $0.001 per square foot from previous month. The largest annual increase of $0.026 per square foot was noted for Class B and Class C 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 an increase of $0.78 per unit over the month; to close at $1,080 per unit, which is the largest increase among other classes. The largest annual increase was noted also for Class B properties; the average went up by $20.30 per unit, followed by Class C with an average of $19.99 per unit.

  • 10,426 units are in the construction pipeline, spread over 38 projects.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

92.94%

 Rent / Unit

$815.48

 Rent / SF

 $0.955

 Monthly Change

+0.20%

 Monthly Change

+$0.78

 Monthly Change

+$0.001

 Annual Change

+0.18%

 Annual Change

+$20.09

 Annual Change

+$0.025

Absorption in Dallas for March 2014 was positive (1,688), bringing the annual total to a positive 5,205 units. 4,897 units are in the planning stage.

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Houston: 713-686-9955  




 

 

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