Home > Market Updates, Uncategorized > Dallas – Ft. Worth Multifamily Apartment Market Update – August 2010

Dallas – Ft. Worth Multifamily Apartment Market Update – August 2010

August proved to be an overall positive month for the Dallas/Fort Worth multifamily sector with no declines seen among the key metrics. Occupancy in the sector has been climbing steadily over the last seven months after January registered the market’s lowest figure since April 2008.

 

Class A properties posted the largest monthly change among all classes with an increase of 0.40% and ending the month at almost 93% occupancy. Absorption increased by 1,037 units over July while the construction pipeline came down by 477 units.

 

For the third consecutive month, average rental rates per square foot remained unchanged while overall average rental rates per unit increased despite the Class A average declining by $0.58. Over 52% of the construction pipeline is currently pre-leasing, but without any immediate significant deliveries expected, next month could be another gainful month for the sector.

 

Dallas/Fort Worth apartment market occupancy increased 0.29 points in August to 89.77%, and is up 0.86 points from last year’s level. Rents per square foot registered no change over the month or over figures in August 2009.

 

Rental rates per unit increased $0.49 over the month to $761.24, while increasing $3.54 over the last twelve months. Absorption in August was positive 1,945 units, while annual absorption stands at positive 11,028 units.

 

To see the graphical chart of this market update, go to

http://www.poconnor.com/apartment_market_update/DFW_8-10.html

 

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