June 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 downward trends in terms of occupancy. Except Class A properties recorded an increase of 0.14% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.62%. The largest annual increase was noted for Class B properties with an increase of 0.35%.

  • The average rental rate per square foot continued to increase marginally on a monthly basis for individual classes. Class A properties reported an unchanged figure over the last month. On a monthly basis Class C reported an increase of 0.003 per square foot previous month. The largest annual increase of $0.024 per square foot was also 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 $1.13 per unit over the month; to close at $1,083 per unit. The largest monthly increase was noted for Class C properties, an increase of $1.81 per unit over the month. The largest annual increase was also noted for Class C properties; the average went up by $18.43 per unit, followed by Class A with an average of $18.11 per unit.

  • 9,293 units are in the construction pipeline, spread over 35 projects. 1.32% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

93.05%

 Rent / Unit

$818.17

 Rent / SF

 $0.958

 Monthly Change

+0.00%

 Monthly Change

+$1.52

 Monthly Change

+$0.001

 Annual Change

-0.05%

 Annual Change

+$18.06

 Annual Change

+$0.022

Absorption in Dallas for June 2014 was positive (446), bringing the annual total to a positive 4,417 units. 4,897 units are in the planning stage.

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




 

 

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