Dallas Fortworth Apartment Overview

By Author: Patrick O Connor
Total Articles: 48
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May remained a challenging month for the Dallas/Fort Worth area multifamily sector, posting the largest monthly decrease in rents, in comparison to the other three major Texas markets, on both a per square foot and per unit basis. Despite that, overall occupancy and absorption figures continued their positive trend observed since January, with occupancy among Class A properties recording an increase of 0.72%. As previously mentioned, rental rates dropped both per unit and per square foot with Class A properties recording the most significant decrease of $2.38 per unit and $0.002 per square foot. The Dallas/Fort Worth sector continues to lead the Texas markets in growth with its hefty construction pipeline, of which over 62% is currently pre-leasing. With close to 2,000 units expected to deliver in the coming month, there may be a direction change seen among the sector's key metrics.

Dallas/Fort Worth apartment market occupancy increased 0.45 points in May to 89.12%, and is up 0.17 points from last year's level. Rents per square foot decreased $0.002 to over the month to $0.887. Over the year, per square foot averages ...
... are down $0.002. Rental rates per unit decreased $1.59 over the month to $758.98, while per unit averages have increased $0.85 over the last twelve months. Absorption in May was positive 2,485 units, while annual absorption stands at positive 7,023 units.

Dallas/Ft. Worth Apartment Market Key Metrics

Occupancy

89.12%
Monthly Change

+ 0.45%

Annual Change

+ 0.17%

Rent / Unit

$758.98

Monthly Change

-$1.590

Annual Change

+ $0.850

Rent / SF

$0.887

Monthly Change

- $0.002

Annual Change

- $0.002

Monthly Absorption

+ 2,485

Annual Absorption

+ 7,023

Units U/C

8,436

Units Planned

8,745

May remained a challenging month for the Dallas/Fort Worth area multifamily sector, posting the largest monthly decrease in rents, in comparison to the other three major Texas markets, on both a per square foot and per unit basis. Despite that, overall occupancy and absorption figures continued their positive trend observed since January, with occupancy among Class A properties recording an increase of 0.72%. As previously mentioned, rental rates dropped both per unit and per square foot with Class A properties recording the most significant decrease of $2.38 per unit and $0.002 per square foot. The Dallas/Fort Worth sector continues to lead the Texas markets in growth with its hefty construction pipeline, of which over 62% is currently pre-leasing. With close to 2,000 units expected to deliver in the coming month, there may be a direction change seen among the sector's key metrics.

Dallas/Fort Worth apartment market occupancy increased 0.45 points in May to 89.12%, and is up 0.17 points from last year's level. Rents per square foot decreased $0.002 to over the month to $0.887. Over the year, per square foot averages are down $0.002. Rental rates per unit decreased $1.59 over the month to $758.98, while per unit averages have increased $0.85 over the last twelve months. Absorption in May was positive 2,485 units, while annual absorption stands at positive 7,023 units.

Dallas/Ft. Worth Apartment Market Key Metrics

Occupancy

89.12%
Monthly Change

+ 0.45%

Annual Change

+ 0.17%

Rent / Unit

$758.98

Monthly Change

-$1.590

Annual Change

+ $0.850

Rent / SF

$0.887

Monthly Change

- $0.002

Annual Change

- $0.002

Monthly Absorption

+ 2,485

Annual Absorption

+ 7,023

Units U/C

8,436

Units Planned

8,745

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, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.

This capacity to research, analyze and interpret market trends and the impact of specific transactions is a major reason for why developers and acquisition experts rely on O'Connor & Associates for market study, real estate market research, feasibility studies, rent studies, tax credit studies, project design guidance, property performance evaluation and lease audits. O'Connor & Associates is an acknowledged source of trends in real estate investing and market activity.

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