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ALN spotlights Corpus Christi apartments Sept. 2014ALN spotlights Corpus Christi apartments Sept. 2014https://www.recenter.tamu.edu/news/newstalk-texas/?Item=27872014-10-14T13:00:00Z2014-10-14T10:00:00Z

CORPUS CHRISTI - Corpus Christi has been experiencing occupancy numbers like the larger Texas markets, namely in the mid 90’s. Like Austin, in the last several years it seemed as if Corpus Christi could raise rents without any net loss in occupancy.

However, the market did dip a little in early 2014 and overall occupancy dropped down to 92.1 percent by April. Because of strong absorption over the summer the region has rebounded to an overall 94.1 percent occupancy.

Effective rents, however, have grown almost steadily without any dips over the last several quarters. So far in 2014 the effective rent per unit has risen $37 to $869, a rise of 4.4 percent.

Corpus Christi*
12-Month Statistics
  Occupancy Effective Rent
Submarket Aug. 13 Aug. 14 Change Absorp. Aug. 13 Aug. 14 Change
Central Corpus Christi 95.1% 93.7% -1.5% 555 $817 $873 7.0%
Ingleside/Rockport 98.1% 98.5% 0.4% 3 $860 $869 1.1%
Jim Wells County 100.0% 100.0% 0.0% 0 $567 $590 4.0%
Kingsville/Kleberg
County/N. Padre
92.0% 95.1% 3.4% 8 $723 $789 9.2%
Portland 97.5% 97.6% 0.1% -100 $896 $1,013 13.0%
Robstown/River Hills/NW 95.0% 92.9% -2.2% -28 $763 $820 7.6%
Corpus Christi Totals 95.2% 94.1% -1.1% 435 $810 $869 7.2%

* Does not include Senior/Student/Income Restricted

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ALN Apartment Data
Corpus Christi
Multifamily
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