Texas Apartment Marketplace Update May 2006

Oct 21, 2012 by MihlfeldGlorius686

Although all major Texas markets posted decreases in typical occupancy in Could, occupancy remains above 90% in all four, with Austin recording the highest at 93.02%. The lowest occupancy was located in Dallas/Fort Worth at 90.18%.

Austin has the highest typical rent per square foot as well, at $.931 per square foot (psf) Dallas/Fort Worth posted the second highest at $.868 psf. The strongest monthly absorption was identified in San Antonio, which absorbed 243 units in May. Posting the weakest absorption figures in May possibly was the Houston market place, at -477 units. Austin apartment marketplace occupancy decreased .36 points in May to 93.02%, but remains 1.64 points above last years

level. Average rents, presently at $.931 psf, are $.002 psf higher than final month and $.003 psf higher than final year. Monthly absorption returned to good territory, as 236 units had been absorbed, bringing annual absorption to three,709 units.

Dallas/Fort Worth apartment market place occupancy was down .17 points over the month. At present at 90.18%, occupancy is 1.46 points larger than this time final year. Average rents elevated $.001 psf to $.868 psf, and are $.005 psf greater than May possibly 2005 levels. The market absorbed 216 units more than the month annual absorption now totals 13,468 units.

Houston apartment market place occupancy fell .19 points more than the month to 90.57%, but has gained three.75 points because this time last year. Rental rates gained $.001 psf in Might and are up $.026 psf over the year. Absorption more than the month was -477 units however, over-the-year absorption remains well in the black at 22,628 units.

San Antonio occupancy decreased .31 points to 91.38%, and is up .17 points more than the year. Rental rates posted a decrease of $.002 psf over the month, but are up $.010 psf because Might 2005. Absorption was positive for the fourth month in a row, at 243 units, whilst annual absorption stands at three,792 units.

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