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DFW apartments 3Q 2013: Hendricks-BerkadiaDFW apartments 3Q 2013: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=59402013-10-23T11:17:00Z2013-10-23T08:45:00Z

DALLAS-FORT WORTH - More than 3,270 apartments were completed in the Metroplex since third quarter 2013, according to Hendricks-Berkadia. Year-to-date deliveries reached 8,790 units, which exceeded total 2012 construction by 19.7 percent.

On average, 8,750 apartments came online annually in the last five years.

Permits were requested for 9,350 apartments in the first three quarters 2013. Year-to-date issuance trailed permitting requests for 11,200 units during the same period in 2012.

Average vacancy decreased 50 basis points to 5.0 percent in 3Q 2013 with asking rents in the DFW area rising 3.1 percent to $931 per month.

Class A monthly rents rose 2.3 percent to $1,358 per month during 2Q 2013. One year ago, concessions were 2.3 percent of asking rents. By the third quarter 2013, concessions tapered off to 1.3 percent of asking rents.

DFW Multifamily 3Q 2013 / 3Q 2012 Comparison by Vacancy
Submarkets* Vacancy Average Rent
2Q 2013 2Q 2012 2Q 2013 2Q 2012
Rockwall County 2.7% 1.6% $993 $956
Far Northwest / Farmers Branch 3.6% 6.1% $879 $860
Oaklawn 3.7% 4.1% $1,484 $1,519
Carrollton / Addison / Coppell 3.9% 4.7% $868 $838
Southeast Fort Worth 4.1% 5.0% $864 $820
Plano / Allen / McKinney 4.3% 4.6% $1,031 $993
North Irving 4.4% 5.6% $958 $938
Garland 4.4% 5.2% $798 $773
Lewisville 4.4% 4.9% $971 $945
Total (DFW-wide average)** 5.0% 5.5% $931 $903

*Chart represents top nine submarkets ranked by vacancy.
**Total includes all submarkets within DFW.

View the full report at Hendricks-Berkadia.

Need a report now? DFW Market Data Sources provides free office, multifamily, retail, industrial stats and facts galore!

Berkadia
Dallas-Fort Worth-Arlington
Multifamily
http://www.apartmentupdate.com/index.cfmRead more at {Source}

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