September 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 0.12% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.50%. The largest annual increase was noted for Class B properties with an increase of 0.31%.

  • 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 reported an increase of $0.002 per square foot. The largest annual increase of $0.021 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 $0.13 per unit over the month; to close at $1,084 per unit. The largest monthly increase was noted for Class B properties, an increase of $1.04 per unit over the month. The largest annual increase was noted for Class C properties; the average went up by $16.40 per unit, followed by Class B with an average of $12.85 per unit.

  • 8,811 units are in the construction pipeline, spread over 32 projects. 25.49% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

93.02%

 Rent / Unit

$821.52

 Rent / SF

 $0.93

 Monthly Change

-0.14%

 Monthly Change

+$0.56

 Monthly Change

+$0.001

 Annual Change

-0.26%

 Annual Change

+$12.96

 Annual Change

+$0.017

Absorption in Dallas for September 2014 was positive (287), bringing the annual total to a positive 3,921 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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