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