Occupancy soars in Killeen-Temple

KILLEEN-TEMPLE-BELTON – Occupancy for Temple-Killeen area apartments have reached 96.6 percent, up from 88.8 percent in 2011. About 500 of the area’s 14,392 units are vacant, according to Darrell Jack, president of Apartment Market Data.

Competition could only become stiffer if forecasts for 7.2 percent population growth are right. Pitney Bowes Software ranked the Temple-Killeen area third in the nation for projected percentage growth with the addition of almost 10,500 households by 2017.

Apartment Realty Advisors (ARA) put Temple-Killeen occupancy a little lower at 92.9 percent. Its third quarter 2012 survey involved fewer units overall, but reflected a similar increase of 3.8 percent since January-March 2012, according to ARA’s most recent Multifamily Market Summary report.

In 2011, ARA found Temple-Killeen occupancy at 85.2 percent. Average rent in the local MSA was $626, up from $612 last year. Average rent in Temple — which boasted a 3 percent vacancy rate — was $617, up from $605 last year. 

A $20 million, 220-unit complex is planned near South Belton Middle School for 2013, depending on funding and government approval, according to Ray Severn, owner of Ram Construction

Other complexes that launched in the last year included the 180-unit Encore at Marlandwood in South Temple and 92-apartment Fairways at Sammons in West Temple.

Read more at the Temple Daily Telegram.