Dallas/Ft. Worth Apartment Market Boasts Strong Demand and Higher Rates

Kathryn Koepke
Manager, Market Research
kkoepke@poconnor.com
713.686.9955, ext. 4239

Scott Sherrill
Director of Marketing
ssherrill@poconnor.com
713-686-9955, ext. 4264

Dallas/Ft. Worth Apartment Market Boasts Strong Demand and Higher Rates
Rental Rate Among Highest In State

Houston, TX (June 12, 2007) - The Dallas/Fort Worth market recorded an increase in occupancy in May; however, occupancy is still only higher than in the Houston market. This is according to the O'Connor & Associates May Dallas/Ft. Worth Apartment Update Report. Rental rates posted a modest increase over the month, and remain in the high range of Texas rents. Demand in Dallas/Fort Worth was the strongest of the major Texas markets in May.

Dallas/Fort Worth apartment market occupancy was up 0.09 points in May to 89.99 percent, but has declined 0.36 points since this time last year. Rents per square foot (psf) remained the same over the month at $0.875 psf, and are $0.007 psf higher than one year ago. Rental rates per unit increased $0.50 to $742.62, bringing the annual increase to $8.14. May absorption was strong at 835 units with absorption over the past 12 months at 2,287 units.

	D/FW
Occupancy	89.99%
Monthly Change	^ 0.09
Annual Change	v 0.36
Rent / Unit	$742.62
Monthly Change	^ $0.50
Annual Change	^ $8.14
Rent / SF	$0.875
Monthly Change	-
Annual Change	^ $0.007
Monthly Absorption	835
Annual Absorption	2,287
Units U/C	14,423
Units Planned	5,073

Source: O'Connor & Associates May 2007
Dallas/Ft. Worth Apartment Market Update

For the complete report, visit http://www.poconnor.com/file_repository/DFW_Apt_Market_Update_May2007.pdf.

Dallas/Ft. Worth has a total of 2,506 operating or under-construction projects greater than 25 units with a total of 562,028 units. Class A properties make up 28 percent, Class B make up 35 percent, Class C make up 29 percent and Class D make up eight percent.

About O'Connor & Associates
O'Connor & Associates, a national real estate service firm based in Texas, provides appraisals, market research, cost segregation studies and federal and ad valorem tax reduction services. In business since 1974, O'Connor & Associates is frequently acknowledged by national publications as a respected source of information on real estate trends. Visit www.poconnor.com/marketresearch.

ApartmentLink is your best source for apartment market data in Houston, Dallas/Ft. Worth, Austin and San Antonio. With information on owners, occupancy, rent, amenities, detailed property information, comparable information, and much more, ApartmentLink provides vital apartment information for on-site managers, vendors, brokers, owners and investors. The database is available online at oconnordata.com.

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