April 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. Except Class A properties recorded a decrease of 0.06% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.59%. The largest monthly increase was noted for Class D properties, an increase of 0.17% over previous month. The largest annual increase was also noted for Class D properties with an increase of 0.69%.

  • 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 increase of $0.001 per square foot over last month. On a monthly basis Class C and Class D properties recorded a figure of $0.002 per square foot from previous month. The largest annual increase of $0.026 per square foot was noted for 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 $0.67 per unit over the month; to close at $1,081 per unit. The largest annual increase was noted for Class C properties; the average went up by $19.61 per unit, followed by Class B with an average of $18.39 per unit.

  • 10,206 units are in the construction pipeline, spread over 38 projects. 1.21% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

92.99%

 Rent / Unit

$816.02

 Rent / SF

 $0.956

 Monthly Change

+0.05%

 Monthly Change

+$0.54

 Monthly Change

+$0.001

 Annual Change

+0.15%

 Annual Change

+$19.03

 Annual Change

+$0.024

Absorption in Dallas for April 2014 was positive (795), bringing the annual total to a positive 5,308 units. 4,897 units are in the planning stage.

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Houston: 713-686-9955  




 

 

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