El Paso apartments 2Q 2013: Hendricks-BerkadiaEl Paso apartments 2Q 2013: Hendricks-Berkadiahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=63292013-09-18T09:52:00Z2013-09-16T07:00:00Z

EL PASO - Multifamily developers requested permits for 1,070 apartments in first half 2013, according to Hendricks-Berkadia. During the same period in 2012, permits were issued for 460 units.

Absorption totaled 30 apartments in first half 2013. Metrowide absorption has averaged 500 units per year during the last five years.

First-half deliveries were limited to the first quarter with 240 apartments completed. Two major multifamily projects totaling 260 units are underway in El Paso. One will be completed later this year and the other by mid-2014.

Metro-area vacancy was 5.3 percent in second quarter 2012 and rose through March of this year, when the vacancy rate was 9.9 percent. From April to June, there were no deliveries, resulting in vacancy declining 180 basis points to 8.1 percent.

Marketwide asking rents were $809 per month in June 2012. At the end of second quarter 2013, asking rents had fallen to $784 per month.

El Paso Multifamily 2Q 2013 / 2Q 2012 Comparison
Area Vacancy Average Rent
2Q 2013 2Q 2012 2Q 2013 2Q 2012
El Paso average 8.1% 5.3% $784 $809

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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