November 2014

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Market Summary

  • 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 0.01% over previous month. On a year-over-year basis Class A properties recorded an increase of 0.10%. 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 $0.005 per square foot over the last month, which is the largest increase for the month among other classes. On a yearly basis Class A reported an increase of $0.012 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 $3.79 per unit over the month; to close at $1,089 per unit. On a yearly basis, Class A properties reported an increase of $9.94. The largest annual increase was noted for Class C properties; the average went up by $16.58 per unit.

  • 9,918 units are in the construction pipeline, spread over 36 projects. 22.65% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

93.07%

 Rent / Unit

$823.38

 Rent / SF

 $0.970

 Monthly Change

+0.12%

 Monthly Change

+$1.86

 Monthly Change

+$0.005

 Annual Change

-0.02%

 Annual Change

+$12.18

 Annual Change

+$0.018

Absorption in Dallas for November 2014 was positive (1,358), bringing the annual total to a positive 5,949 units. 4,930 units are in the planning stage.

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




 

 

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