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El Paso Market Overview 2006
Multifamily
El Paso Apartment Statistics 2005
| |
El Paso |
Texas Metro
Average |
 |
| Average rent per square foot |
$0.67 |
$0.78 |
| Average rent for units built since 2000 |
$0.69 |
$0.89 |
| Average occupancy (in percent) |
94.0 |
91.4 |
| Average occupancy for units built since 2000 (in percent) |
95.5 |
93.1 |
| |
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| Source: Apartment Market Data Research Jan-2006 |
El Paso Market Overview 2006
Housing
2005 Housing Affordability Index
| |
2005 Median
Priced Home |
Required
Income to
Qualify |
Median
Family
Income |
HAI* |
HAI for First-
Time |
|
| El Paso |
$110,300 |
$25,503 |
$38,250 |
1.5 |
0.93 |
| Texas Total |
$136,500 |
$31,561 |
$53,000 |
1.68 |
1.14 |
| U.S. Total |
$206,600 |
$47,132 |
$58,000 |
1.23 |
0.68 |
| |
|
*The HAI is the ration of the median family income to the income required to buy the median-priced house using standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-634 loan covering 80 percent of the cost of the home. A HAI of 1.00 indicates that the median family income is exactly equal to the required income to qualify for the standard loan to purchase the median-priced house.
|
** First-time home buyer is assumed to purchase a home equal to the first quartile home price using a 90% home loan at an interest rate 0.5 percent greater than the standard current rate.
|
Source: Real Estate Center at Texas A&M University |
El Paso Market Overview 2006
Hotel
Hotel Occupancy and Rental Rates
| |
|
|
|
| # Rooms 000's |
7.7 |
328.1 |
7.7 |
334.7 |
| Average daily rate |
$57.73 |
$70.39 |
$60.98 |
$74.26 |
| Occupancy rate (in percent) |
67.5 |
55.9 |
66.7 |
59.7 |
| |
|
*Only properties exceeding $18,000 in the current quarter are included; those units below $18,000 only result in 1.5% of the total state revenues, and have been excluded from this database.
Source: Office of the Governor Economic Development and Tourism and Source Strategies, Inc. Of San Antonio
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El Paso Market Overview 2006
Office
Office Property Statistics*
| |
2001 |
2002 |
2003 |
2004 |
|
Central District |
| Inventory |
2,774,097 |
2,632,414 |
2,632,414 |
2,632,414 |
| Occupancy (in percent) |
65.8 |
62.2 |
57.7 |
58.4 |
| Net Absorption |
-312,099 |
-187,936 |
-118,519 |
18,003 |
| |
Outside CBD |
| Inventory |
5,140,913 |
5,314,913 |
5,457,913 |
5,572,913 |
| Occupancy (in percent) |
83.9 |
86.4 |
83.8 |
82.5 |
| Net Absorption |
-22,178 |
-3,290,143 |
-21,637 |
-24,917 |
| |
Total |
| Inventory |
7,915,010 |
7,947,327 |
8,090,327 |
8,205,327 |
| Occupancy (in percent) |
77.6 |
78.4 |
75.3 |
74.8 |
| Net Absorption |
-334,277 |
-3,478,079 |
-140,156 |
42,920 |
| Rental Range(per square foot) |
$8-$15 |
$8-$18 |
$8-$18 |
$8-18 |
| |
|
*2005 data not available
Source: Keller-Koch Realtors |
Office Market Survey Year-End 2004*
| Inventory (sf) |
|
| Outside CBDB |
| Class A | Class B |
|
|
| Total |
1,928,547 |
703,867 |
4,464,016 |
1,108,89 |
| Occupied |
1,282,025 |
255,367 |
3,813,164 |
783,39 |
| Vacant |
646,522 |
448,500 |
650,852 |
325,50 |
| Under Construction |
0 |
0 |
0 |
0 |
| Net Absorption |
27,478 |
-9,484 |
29,520 |
-4,60 |
| Vacancy Rate (in percent) |
33.50 |
63.72 |
14.58 |
29.3 |
| Rental Rate ($/sf) |
|
|
|
|
| Lowest |
$11.00 |
$8.00 |
$12.00 |
$9.0 |
| Highest |
$16.00 |
$11.00 |
$18.00 |
$11.00 |
| Weighed Average |
$13.00 |
$9.00 |
$13.50 |
$10.0 |
| Sales Prices ($/sf) |
|
|
|
|
| Lowest |
$40.00 |
$25.00 |
$50.00 |
$30.0 |
| Highest |
$75.00 |
$40.00 |
$110.00 |
$50.00 |
| Weighted Average |
$50.00 |
$35.00 |
$90.00 |
$35.00 |
|
*2005 data not available
Source: Keller-Koch Realtors
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El Paso Market Overview 2006
Industrial
Industrial Property Statistics*, El Paso
| |
2001 |
2002 |
2003 |
2004 |
|
| Inventory (square feet) |
52,307,449 |
53,377,449 |
54,306,550 |
54,790,800 |
| Occupancy (in percent) |
89.6 |
85.6 |
84.6 |
87.5 |
| Net Absorption |
-99,974 |
-1,177,447 |
254,926 |
2,039,584 |
| Rental Range (per square foot) |
$3.30-$6 |
$2.75-$6 |
$2.75-$6 |
$2.75-$6 |
|
*2005 data not available
Source: Keller-Koch Realtors
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Industrial Property Statistics*, Juarez, Mexico
| |
2002 |
2003 |
2004 |
|
| Inventory (square feet) |
31,999,169 |
48,000,000 |
50,014,000 |
| Occupancy (in percent) |
87.1 |
91.6 |
95.5 |
| Net Absorption |
- |
571,842 |
4,044,317 |
| Rental Range (per square foot) |
- |
$4.25-$6 |
$4.25-$6 |
|
*2005 data not available
Source: Keller-Koch Realtors
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QUALITY OF LIFE
HOUSING
Price Distribution of MLS Homes Sold, El Paso Area
(in percent)
| Price Range |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
|
| $29,999 or less |
1.4 |
0.9 |
0.9 |
1.0 |
0.8 |
0.7 |
0.8 |
| 30,000 - 39,999 |
1.8 |
1.7 |
1.6 |
1.8 |
1.4 |
1.1 |
1.1 |
| 40,000 - 49,999 |
5.4 |
4.6 |
4.4 |
3.2 |
3.1 |
3.0 |
2.0 |
| 50,000 - 59,999 |
14.0 |
12.5 |
8.5 |
7.5 |
6.1 |
5.1 |
3.4 |
| 60,000 - 69,999 |
16.6 |
16.4 |
15.3 |
13.6 |
12.1 |
10.1 |
6.2 |
| 70,000 - 79,999 |
13.8 |
13.1 |
11.5 |
13.4 |
12.5 |
14.4 |
9.2 |
| 80,000 - 89,999 |
11.2 |
12.4 |
11.1 |
11.2 |
12.1 |
11.6 |
10.1 |
| 90,000 - 99,999 |
8.3 |
7.1 |
7.8 |
8.2 |
8.4 |
8.8 |
10.1 |
| 100,000 - 119,999 |
8.8 |
9.2 |
11.6 |
11.3 |
12.2 |
11.7 |
14.0 |
| 120,000 - 139,999 |
4.7 |
6.5 |
9.4 |
9.0 |
10.3 |
10.3 |
13.4 |
| 140,000 - 159,999 |
4.2 |
4.3 |
5.2 |
6.0 |
6.3 |
6.6 |
8.9 |
| 160,000 - 179,999 |
3.2 |
3.3 |
3.7 |
4.1 |
3.8 |
4.0 |
5.6 |
| 180,000 - 199,999 |
1.7 |
2.2 |
2.6 |
2.6 |
2.9 |
3.4 |
4.8 |
| 200,000 - 249,999 |
2.6 |
3.2 |
3.0 |
3.4 |
4.0 |
4.1 |
5.0 |
| 250,000 - 299,999 |
1.1 |
1.3 |
1.5 |
1.7 |
1.7 |
2.0 |
2.4 |
| 300,000 - 399,999 |
0.9 |
0.9 |
1.4 |
1.3 |
1.6 |
2.1 |
2.1 |
| 400,000 - 499,999 |
0.2 |
0.2 |
0.3 |
0.4 |
0.6 |
0.5 |
0.6 |
| 500,000 and more |
0.1 |
0.2 |
0.2 |
0.3 |
0.2 |
0.4 |
0.4 |
|
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Source: Real Estate Center at Texas A&M University
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Further information can be found at the Texas A&M Real Estate Center including:
El Paso County Single Family Building Permits
El Paso Real Estate Market News
El Paso Residential Housing Activity
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