El Paso apartments 3Q 2013: Hendricks-BerkadiaEl Paso apartments 3Q 2013: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=59372013-10-23T11:05:00Z2013-10-23T10:00:00Z

EL PASO - Multifamily developers requested permits for 1,230 apartments in the first three quarters 2013 compared to 1,140 units during the same period 2012. In the past five years, issuance averaged 1,060 apartments annually, according to Hendricks-Berkadia.

Absorption totaled 760 apartments in the first nine months of 2013. Metrowide absorption has averaged 500 units per year during the last five years.

During the same period this year, builders completed 400 units, three-fourths of which were in the east side of El Paso.  Approximately 160 additional units are expected to be delivered in 4Q 2013.

In September 2013, monthly rents were $795, a decline of 3.7 percent from September 2012. Concessions increased from 0.4 percent of asking rents to 1.3 percent of market rents. Class A asking rents fell 1.4 percent to $939 per month.

El Paso Multifamily 3Q 2013 / 3Q 2012 Comparison
Area Vacancy Average Rent
3Q 2013 3Q 2012 3Q 2013 3Q 2012
El Paso average 7.0% 6.0% $795 $825

View the full report at Hendricks-Berkadia.

See the Center's free El Paso Market Data Sources. Stats and facts galore!

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