Texas Apartment Marketplace

Sep 14, 2012 by FlorentinaRizzardo645

All Texas metro markets report current general occupancies above 90%, with Austin major the industry at 93.39%. The lowest occupancy is identified in the Dallas/Fort Worth market at 90.35%. Austin also leads the Texas markets in terms of rental rates, reporting the highest rents at $.930 per square foot (psf). Average rents in the other metro markets are all beneath $.870 psf. Monthly absorption was strongest in the Dallas/Ft. Worth industry, as 641 units had been absorbed in April. San Antonio also posted positive monthly absorption, while the Houston and Austin markets posted unfavorable figures.

Austin Market place occupancy dropped .07 points over the month, nonetheless at 93.39%, occupancy remains 2.ten points larger than in April of 2005. Average rents are presently at $.930 psf and are $.002 psf greater than last month and final year’s figures. Absorption dipped into the red this month, as -109 units were absorbed. Annual absorption stands at 3,589 units.

Dallas/Fort Worth Marketplace occupancy is up .03 points more than the month to 90.35%, and is 1.70 points above last year’s level. Although average rents have remained flat over the final couple of months at $.867 psf, they are $.003 psf larger than the rate seen at this time final year. Monthly absorption of 641 units brings annual absorption up to 13,575 units.

Houston Industry occupancy fell .27 points to 90.73% over the month. Overall occupancy remains four.29 points higher than April 2005′s level. Rental rates inched up $.003 psf over the month and are up $.027 psf more than the year to $.824 psf, even though monthly absorption was -323 units. Absorption over the final twelve months is at 24,542 units.

San Antonio occupancy, at 91.69%, gained .08 points over the month and .47 points over the year. Rental rates are up slightly more than the month, $.001 psf, to $.817 psf, which is $.012 psf larger than final year’s figure. This is the third consecutive month of good absorption, as 237 units were absorbed in April. Annual absorption totals 3,473 units.

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