March 2010

Click here to view as PDF.

The overall occupancy for the Dallas/Fort Worth multifamily sector fared the best of the major Texas markets during March, with an increase of more than one half percentage point. This can be attributed to the 0.80 point increase in occupancy of Class A properties, currently standing at 90.84%. Rental rates continued to trend in the opposite direction again this month, with a decrease in rents per unit as well as per square foot across all classes. While the market posted positive absorption figures both on a monthly and annual basis, bringing down the market’s high level of under-construction pipeline continues to be a challenge.

Dallas/Fort Worth apartment market occupancy increased 0.54 points in March to 88.45%, but has fallen 0.71 points below last year’s level.  Rents per square foot decreased $0.001 over the month to $0.889. Over the year, per square foot averages are down $0.002.  Rental rates per unit decreased $1.56 over the month to $760.04, while per unit averages have increased $0.86 over the last twelve months.  Absorption in March was positive 3,215 units, while annual absorption stands at positive 2,971 units.

To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call
1-800-856-REAL (7325) ext. 4264.

O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955   Dallas: 214-727-5673