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