JULY 2015 Market Line - SAN ANTONIO SAN ANTONIO OVERVIEW Occupancy: 91.8% Price: 855 $/mo Rental Rate: 101.3 c/sf/mo Size: 844 sf Past 12 Months: 3.5% Rental Rate growth 5,791 units absorbed Operating Supply: 805 communities 166,353 units Recently Opened (12 mo): 19 communities 5,076 units The box on the left displays a snapshot of the current market conditions. The graph on the right displays the overall occupancy and effective rental rates over the past 24 months. These statistics are derived from a continuous survey of all apartment communities. The effective rental rates are calculated net of concessions and utility adjustments. The table below lists the 5 hottest submarkets in the Greater Houston area. There are a total of 39 submarkets, and the ranking is based on the best combination of rental rate growth and absorption over the past 3 months. Under Construction: 17 communities 4,657 units Proposed Construction: 21 communities 5,690 units History of Effective Price & Occupancy 92 875 850 91 825 90 800 775 J A S O N D J F M A M J J A S O N D J F M A M J 2013 2014 2015 Price ($/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 1 UTSA/La Cantera/Bandera Rd 2 Boerne/Kerrville 3 New Braunfels/Seguin 4 Brooks AFB/I-10E 5 Medical Center/USAA/Leon Valley 89 Annualized % of Mkt Growth % Absorbed 9.4% 2.5% 22.8% 1.1% 7.3% 0.9% 4.0% 1.4% 4.4% 1.1% Class Total Units % of Citywide w/ Concessions Total Units Effect ALL 54,091 33% -1.5% A 15,849 35% -1.8% B 18,574 35% -1.4% C 14,896 29% -1.3% D 4,772 27% -1.7% Other Texas Markets HOUSTON DALLAS/FT WORTH AUSTIN Occupancy: 91.4% Price: 963 $/mo Rental Rate: 109.8 c/sf/mo Size: 877 sf Occupancy: 93.3% Price: 945 $/mo Rental Rate: 108.9 c/sf/mo Size: 868 sf Occupancy: 91.8% Price: 1,117 $/mo Rental Rate: 128.4 c/sf/mo Size: 870 sf Past 12 Months: 5.5% Rental Rate growth 15,103 units absorbed Past 12 Months: 6.2% Rental Rate growth 17,902 units absorbed Past 12 Months: 4.9% Rental Rate growth 8,893 units absorbed Operating Supply: 2,578 communities 598,074 units Operating Supply: 2,782 communities 634,415 units Operating Supply: 829 communities 189,624 units Average Special -4.5% -4.8% -4.1% -4.2% -6.3% 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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