* The Dallas/Fort Worth area multifamily metrics continued to remain mostly positive.
* Occupancy came down for all Classes except Class D; Class A occupancy came down by 0.19% to close at 94.86%, after two months of remaining over 95%. The Class B average continued to remain just under 93%.
* The average rental rates per square foot increased marginally across all classes. The Class A average closed at $1.093 per square foot and the average for Class B stood at $0.861 per square foot.
* The average rental rate per unit for Class B properties continued to climb, increasing by $2.60 to close at $702.89, while the average for Class A properties improved by $1.56 to close at $1,038.10 per unit.
* 8,277 units are in the construction pipeline, of which eight projects are pre-leasing. Two of these eight are Class A projects.
Dallas/Ft. Worth Apartment Market Key Metrics
Occupancy
91.63%
Monthly Change
-0.09%
Annual Change
+1.49%
Rent / Unit
$769.88
Monthly Change
+$1.56
Annual Change
+$6.63
Rent / SF
$0.899
Monthly Change
+$0.001
Annual Change
+$0.007
Absorption in October was negative 397 units, bringing the annual total to a positive 10,380 units. 7,691 units are in the planning stage.
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.
Investment property decision makers rely upon O'Connor & Associates' Market Research and Consulting division for both market data and construction services. Data regarding individual properties, submarkets, construction, absorption, and rental rate and occupancy trends provides the information needed to make prudent decisions.
Author Resource:-
O’Connor & Associates is a national provider of commercial real estate consulting services including cost segregation studies, tax reduction, due diligence, renovation upgrading cost analyses, Dallas federal tax reduction, tax return review and apartment inspections.
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