Home > Market Updates, multifamily, Uncategorized > Dallas/Ft. Worth Apartment Market Update – January 2011

Dallas/Ft. Worth Apartment Market Update – January 2011

February 26, 2011 Leave a comment Go to comments

Metrics for the Dallas/Fort Worth area multifamily sector began the year with positive changes for all key metrics. Overall occupancy was over 90% yet again; with all classes recording positive change over the month with the exception of Class C.

Class A occupancy remained unchanged at 93.4% – second only to Austin’s occupancy – while Class B occupancy increased to 91.5% over the month. Absorption returned to positive figures with Class B properties recording an increase of 205 units compared to the previous month.

No significant change was noted in average rental rates per square foot for individual classes. Average rental rates per unit declined marginally for Class A properties ($0.12, $1,032.49), while remaining positive overall.

With almost 35% of the construction pipeline currently pre-leasing and no significant deliveries expected in January, metrics should remain positive overall in the coming month.

Dallas/Fort Worth apartment market occupancy increased 0.04% points in January to 90.11% but is up 2.43% points from last year’s level.

Average rental rates per square foot increased by $0.001 over the month and increased by $0.002 over the year.

Average rental rates per unit increased by $0.15 over the month to $764.94, and increased $3.10 over the last twelve months. Absorption in January was positive 268 units, while annual absorption stands at positive 17,178 units.

Dallas/Ft. Worth Apartment Market
Key Metrics

Occupancy    90.11%
Monthly Change + 0.04%
Annual Change + 2.43%
Rent / Unit $764.94
Monthly Change + $0.15
Annual Change $3.10
Rent / SF $0.894
Monthly Change + 0.001
Annual Change + $0.002
Monthly Absorption + 268
Annual Absorption + 17,178
Units U/C 4,279
Units Planned 6,108

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  

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