Texas Apartment Market Update ? May 2006

Although all major Texas markets posted decreases in average occupancy in May, occupancy remains above 90% in all four, with Austin recording the highest at 93.02%. The lowest occupancy was found in Dallas/Fort Worth at 90.18%.

Austin has the highest average rent per square foot as well, at $0.931 per square foot (psf); Dallas/Fort Worth posted the second highest at $0.868 psf. The strongest monthly absorption was found in San Antonio, which absorbed 243 units in May. Posting the weakest absorption figures in May was the Houston market, at -477 units. Austin apartment market occupancy decreased 0.36 points in May to 93.02%, but remains 1.64 points above last year?s level. Average rents, currently at $0.931 psf, are $0.002 psf higher than last month and $0.003 psf higher than last year. Monthly absorption returned to positive territory, as 236 units were absorbed, bringing annual absorption to 3,709 units.

Dallas/Fort Worth apartment market occupancy was down 0.17 points over the month. Currently at 90.18%, occupancy is 1.46 points higher than this time last year. Average rents increased $0.001 psf to $0.868 psf, and are $0.005 psf higher than May 2005 levels. The market absorbed 216 units over the month; annual absorption now totals 13,468 units.

Houston apartment market occupancy fell 0.19 points over the month to 90.57%, but has gained 3.75 points since this time last year. Rental rates gained $0.001 psf in May and are up $0.026 psf over the year. Absorption over the month was -477 units; however, over-the-year absorption remains well in the black at 22,628 units.

San Antonio occupancy decreased 0.31 points to 91.38%, and is up 0.17 points over the year. Rental rates posted a decrease of $0.002 psf over the month, but are up $0.010 psf since May 2005. Absorption was positive for the fourth month in a row, at 243 units, while annual absorption stands at 3,792 units.

Posted by Rick Gable on December 13, 2008 at 12:00 AM

About Rick Gable
Rick Gable is affliated with Coldwell Banker Plus One Professionals, which is located in Lima, OH. For further assistance please use the contact information located on the right.

As of 05/24/12 the Rick Gable RePage is ranked at 8,409 with 325 points.

Local Information for Lima, OH

Latitude: 40.7407 -- Longitude: -84.114997

ZIP Codes for Lima, Ohio	45801 45802 45804 45805 45806 45807 45808 45809 45819 45854
Area Code for Lima, Ohio	419
Time zone for Lima, Ohio	EST

Other Area Cities: Delphos, OH Fryburg, OH Lima, OH Saint Marys, OH Wapakoneta, OH

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In the years after the American Revolution, the Shawnee were the most prominent residents of west central Ohio, growing in numbers and permanency after the 1794 Treaty of Greenville. By 1817, the United States had created the Hog Creek Reservation for the local Shawnee, covering portions of what would become Allen and Auglaize counties, and including part of present-day Lima. The creation of the Shawnee reservation freed other lands in the area for settlement, and in February 1820, the Ohio legislature formally established Allen County. In 1831 the Shawnee relinquished all their land in the area to the United States and relocated to Kansas, opening all of Allen County to American settlement. The Ohio legislature mandated that a county seat be established. “Lima” was the result. Its name originated with Judge Patrick G. Goode, who insisted on the Spanish pronunciation “Lee-mah” after the capital of Peru, but the local vernacular -- "Lye-mah" -- prevailed. -- Source: Wikipedia.com

Ohio 2000 Census Population Profile Map

	Lima	Ohio	United States
Population	40,081	11,353,140	281,421,906
Median age	32.9	36.2	35.3
Median age for Male	31.3	34.9	34
Median age for Female	34.7	37.5	36.5
Households	15,410	4,445,773	105,480,101
Household population	37,340	11,054,019	273,643,273
Average household size	2.42	2.49	2.59
Families	9,567	2,993,023	71,787,347
Average family size	3.06	3.04	3.14
Housing units	17,631	4,783,051	115,904,641
Occupied units	15,410	4,445,773	105,480,101
Vacant units	2,221	337,278	10,424,540

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Texas Apartment Market Update ? May 2006

Local Information for Lima, OH

Latitude: 40.7407 -- Longitude: -84.114997

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