All Texas metro markets report current overall occupancies above 90%, with Austin leading the market at 93.39%. The lowest occupancy is found 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 $0.930 per square foot (psf). Average rents in the other metro markets are all below $0.870 psf. Monthly absorption was strongest in the Dallas/Ft. Worth market, as 641 units were absorbed in April. San Antonio also posted positive monthly absorption, while the Houston and Austin markets posted negative figures.
Austin Market occupancy dropped 0.07 points over the month, however at 93.39%, occupancy remains 2.10 points higher than in April of 2005. Average rents are currently at $0.930 psf and are $0.002 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 occupancy is up 0.03 points over the month to 90.35%, and is 1.70 points above last year’s level. Although average rents have remained flat over the last few months at $0.867 psf, they are...
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