|Posted on December 4, 2014 at 3:25 AM|
TOP 10 Things to Know About the Current Texas Apartment Leasing Industry in Dallas/Houston
1. Dallas' apartment occupancy rate is 92.5%. Houston's apartment occupancy rate is 91.2%
2. Number of apartment communities in Dallas is 2,751; whereas the number of communities in Houston is 2,554.
3. Average rental rate in Dallas is $902 per month; while the average rental rate in Houston is $923 per month.
4. Number of units under construction in Dallas is 70. Number of units under construction in Houston is 87.
5. The Dallas apartment rental market consists of 251 cities/towns. The Houston apartment rental market has slightly less cities/towns at 160.
6. The Dallas market has 59 colleges/universities and 1,422 Public schools. The Houston market has 54 colleges/universities and 1,201 public schools.
7.The hottest sub-market in Dallas is the Downtown area with a trending rental rate growth of 9% a year. The hottest sub-market in Houston is the Katy/Far Northwest Houston area with a rental rate growth of 6.3%.
8. The average unit size for a Dallas apartment is 868 sq ft. T, and the average unit size for Houston apartment is 876 sq ft.
9. Rental rate growth for the entire city of Dallas is 7%. Rental rate growth for the entire city of Houston is 8.9%.
10. Over the past 90 days, 146 apartment communities have changed management companies in Dallas. Over the past 90 days, 133 apartment communities have changed management companies in Houston.
Sources ; Apartmentdata.com