April 2010

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The Dallas/Fort Worth area multifamily sector’s overall occupancy continued to increase during April, with Class A occupancy increasing by a mere 0.01 percentage points to 90.85%. No change was recorded in rents per square foot over the month, but rental rates per unit increased more than half a dollar. Dallas/Fort Worth performed the best of the four major Texas markets with a very high positive absorption figure for the month and comes in second behind Austin in annual absorption figures. With almost 8,500 units still under constructions and over 50% of those already pre-leasing, anticipate decreased occupancy coupled with an increase in rental rates for the near future as more new communities are delivered.

Dallas/Fort Worthapartment market occupancy increased 0.22 points in April to 88.67%, but has fallen 0.29 points below last year’s level. Rents per square foot showed no change and remained constant at $0.889. Over the year, per square foot averages are down $0.001. Rental rates per unit increased $0.53 over the month to $760.57, while per unit averages have increased $2.06 over the last twelve months. Absorption in April was positive 2,011 units, while annual absorption stands at positive 5,232 units.

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