The key metrics for the Dallas/Fort Worth area multifamily sector recorded positive changes both over the month and over the year.
Over the month occupancy continued to rise for the individual classes, with Class A properties recording a change of 0.16% to close at 94.73%. Over the year, occupancy in Class B properties recorded a change of 1.08% to close at 93.5%.
The average rental rate per square foot continued to make upward changes for individual classes, with Class A properties recording a change of $0.004 over the month and of $0.022 over the year to close at $1.110 per square foot. The Class B average went up by $0.021 over the year to close at $0.876 per square foot.
Average rental rates per unit also recorded significant changes both over the month and over the year for all classes. For Class A, the average stood at $1,053.14 per unit which represented a change of $3.79 over the month and of $19.57 over the year. The Class B average went up by $2.42 over the month to close at $715.18 per unit.
15,050 units are in the construction pipeline spread over 56 projects; 22% of the units (3,415 units) are currently pre-leasing.
Dallas/Ft. Worth Apartment Market
Rent / Unit
Rent / SF
Absorption in June was positive 743 units, bringing the annual total to a positive 7,511 units. 3,057 units are in the planning stage.
To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call
1-800-856-REAL (7325) ext. 4264.
O’Connor & Associates / Research & Consulting Group