JULY 2015 Market Line - AUSTIN AUSTIN OVERVIEW Occupancy: 91.8% Price: 1,117 $/mo Rental Rate: 128.4 c/sf/mo Size: 870 sf Past 12 Months: 4.9% Rental Rate growth 8,893 units absorbed Operating Supply: 829 communities 189,624 units Recently Opened (12 mo): 38 communities 10,245 units The box on the left displays a snapshot of the current market conditions. The graph on the right displays the overall occupancy and effective rental rates over the past 24 months. These statistics are derived from a continuous survey of all apartment communities. The effective rental rates are calculated net of concessions and utility adjustments. The table below lists the 5 hottest submarkets in the Greater Houston area. There are a total of 39 submarkets, and the ranking is based on the best combination of rental rate growth and absorption over the past 3 months. Under Construction: 34 communities 9,258 units Proposed Construction: 38 communities 10,320 units History of Effective Price & Occupancy 1150 94 1100 93 1050 92 1000 91 950 J A S O N D J F M A M J J A S O N D J F M A M J 2013 2014 90 2015 Price ($/mo) Occupancy % The table below distributes and analyzes concessions (specials) by classification. Concessions generally are represented by three types of specials: move-in, months free, or floorplan. ADS captures the effect of these specials and prorates them over a lease term to arrive at a percentage reduction in market or street rents. HOTTEST SUBMARKETS CONCESSIONS Over The Past 3 Months Rank Submarket Annualized % of Mkt Growth % Absorbed 1 Pflugerville/Round Rock/Georgetown 18.5% 2.0% 2 North 14.0% 1.5% 3 Cedar Park/Leander/Jollyville 14.8% 1.1% 4 Northeast 16.2% 0.9% 5 Northwest/Arboretum 17.0% 0.9% Class Total Units % of Citywide w/ Concessions Total Units Effect ALL 24,438 13% -0.8% A 10,497 24% -1.7% B 8,076 12% -0.6% C 4,724 7% -0.2% D 1,141 8% -0.5% Other Texas Markets HOUSTON SAN ANTONIO DALLAS/FT.WORTH Occupancy: 91.4% Price: 963 $/mo Rental Rate: 109.8 c/sf/mo Size: 877 sf Occupancy: 91.8% Price: 855 $/mo Rental Rate: 101.3 c/sf/mo Size: 844 sf Occupancy: 93.3% Price: 945 $/mo Rental Rate: 108.9 c/sf/mo Size: 868 sf Past 12 Months: 5.5% Rental Rate growth 15,103 units absorbed Past 12 Months: 3.5% Rental Rate growth 5,791 units absorbed Past 12 Months: 6.2% Rental Rate growth 17,902 units absorbed Operating Supply: 2,578 communities 598,074 units Operating Supply: 805 communities 166,353 units Operating Supply: 2,782 communities 634,415 units Average Special -5.4% -6.7% -4.6% -2.1% -5.7% Apartment Data Services, LLC (ADS) has been providing apartment data and marketing products since 1986. ADS covers Texas’ four largest metro areas and provides real time access for property specific information, market surveys and historic submarket data for over 1.6 million apartment units. Bruce McClenny President 800.595.8730
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