Texas Apartment Market place
All Texas metro markets report current overall occupancies above 90%, with Austin top the market place at 93.39%. The lowest occupancy is located in the Dallas/Fort Worth industry 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 marketplace, as 641 units were absorbed in April. San Antonio also posted positive monthly absorption, whilst the Houston and Austin markets posted unfavorable figures.
Austin Market occupancy dropped .07 points more than the month, however at 93.39%, occupancy remains 2.ten points larger than in April of 2005. Typical rents are at present at $.930 psf and are $.002 psf higher than last month and last 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 Market place occupancy is up .03 points over the month to 90.35%, and is 1.70 points above final year's level. Despite the fact that 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 last 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. General occupancy remains 4.29 points higher than April 2005's level. To get another perspective, you should check-out: research topgreener. Rental rates inched up $.003 psf more than the month and are up $.027 psf over the year to $.824 psf, although monthly absorption was -323 units. Top Greener contains further concerning when to see it. Absorption over the final twelve months is at 24,542 units.
San Antonio occupancy, at 91.69%, gained .08 points more than 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 greater than final year's figure. This is the third consecutive month of good absorption, as 237 units had been absorbed in April. Annual absorption totals 3,473 units..