- Metrics for the Dallas/Fort Worth area multifamily sector continued to be positive in June, although no major movements were noted compared to the previous month.
- Overall occupancy improved slightly with only Class A and Class C properties recording positive changes. Class A occupancy stood at 94.7%.
- Average rental rates per square foot remained essentially unchanged with only Class A properties recording a slight increase of $0.001 over the average of May.
- Average rental rates per unit showed some improvement over May, with Class A properties recording an increase of $0.86 per unit. The Class C average increased by $0.35 while the other classes saw declines.
- Over 6,000 units are under construction of which 19% are preleasing. The Lewisville/Flower Mound submarket has the most number of units under construction – 904 units across three Class A projects.
Dallas/Ft. Worth Apartment Market Key Metrics
Occupancy
91.34%
Monthly Change
+ 0.25%
Annual Change
+ 1.95%
Rent / Unit
766.30
Monthly Change
+ $0.14
Annual Change
+ $5.84
Rent / SF
$0.90
Monthly Change
-
Annual Change
+ $0.01
Absorption in June was positive 1,809 units, bringing the annual total to a positive 13,774 units. 4,580 units are in the planning stage.
Timely and accurate real estate market data increases transparency for real estate markets. It also helps to dampen the amplitude fluctuations. OConnordata rental databases are updated monthly or more often if information becomes available. The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Dallas retail space leasing, Dallas industrial leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Fort Worth apartments, Austin apartments, and San Antonio apartments.
