Dallas/Ft. Worth Apartment Market Update - September 2007

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Dallas/Fort Worth market occupancy inched up in September, however area occupancy remains toward the lower end when compared to the major Texas markets.  Rental rates in the Dallas/Fort Worth area also recorded monthly gains, and are second only to those found in Austin. Absorption of 1,554 units by the Dallas/Fort Worth area in September was the strongest monthly absorption figure of the four major Texas markets.

Dallas/Fort Worth apartment market occupancy jumped 0.21 points in September to 90.32%.  Despite the monthly gain, area occupancy remains 0.10 points below last year’s level. Rents per square foot inched up $0.001 psf over the month to $0.880, which represents a $0.009 psf annual gain. Rental rates per unit also enjoyed a monthly increase, gaining $0.76 to $746.42.  Over the last twelve months, rent per unit has increased $9.07. Absorption in September was a robust 1,554 units, while annual absorption stands at 5,960 units.

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