October 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 upward trends in terms of occupancy. Class A properties recorded an increase of 0.03% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.15%. 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 increase of $0.002 per square foot over the last month. On a monthly basis Class D reported an increase of $0.004 per square foot. The largest annual increase of $0.020 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 $1.50 per unit over the month; to close at $1,085 per unit. The largest monthly increase was noted for Class D properties, an increase of $2.42 per unit over the month. The largest annual increase was noted for Class C properties; the average went up by $15.76 per unit.

  • 9,974 units are in the construction pipeline, spread over 36 projects. 22.52% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

92.95%

 Rent / Unit

$823.38

 Rent / SF

 $0.965

 Monthly Change

-0.07%

 Monthly Change

+$1.86

 Monthly Change

+$0.002

 Annual Change

-0.17%

 Annual Change

+$12.18

 Annual Change

+$0.015

Absorption in Dallas for October 2014 was negative (384), bringing the annual total to a positive 4,298 units. 5,613 units are in the planning stage.

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




 

 

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