July 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 unchanged figure over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.66%. The largest annual increase was noted for Class B properties with an increase of 0.42%.

  • 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 B and Class C properties reported an increase of 0.002 per square foot respectively. The largest annual increase of $0.023 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 $0.14 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 $1.51 per unit over the month. The largest annual increase was also noted for Class C properties; the average went up by $17.82 per unit, followed by Class B with an average of $14.42 per unit.

  • 12,612 units are in the construction pipeline, spread over 45 projects. 14.70% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

93.02%

 Rent / Unit

$819.21

 Rent / SF

 $0.960

 Monthly Change

-0.03%

 Monthly Change

+$1.02

 Monthly Change

+$0.002

 Annual Change

-0.02%

 Annual Change

+$16.09

 Annual Change

+$0.020

Absorption in Dallas for July 2014 was negative (189), bringing the annual total to a positive 4,432 units. 4,742 units are in the planning stage.

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




 

 

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