In an occurrence similar to the other markets, the metrics for the Dallas/Ft. Worth area multifamily sector were positive in May while not recording any significant change over April.
Occupancy for Class A and Class B remained over 94% and 92%, respectively.
Net absorption was positive overall with only Class C properties recording negative absorption of 40 units.
Rental rates per square foot were unchanged over April and rental rates per unit did not see significant improvement for any of the classes.
Out of the 27 projects that are underway in the current construction pipeline, 78% are Class A projects.
Pre-leasing has started in over 22% of the 6,797 units that are in the pipeline.
Dallas/Ft. Worth Apartment Market
Rent / Unit
Rent / SF
Dallas / Ft. Worth posted absorption in May of positive 219 units, bringing the annual total to a positive 14,128 units. 6,797 units are under construction, while 5,225 units are in the planning stage.
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O’Connor & Associates / Research & Consulting Group