Page 98 - Southlake FY23 Budget

CITY PROFILE

offiCe oCCuPanCy rate

OFFICE OCCUPANCY RATE - SOUTHLAKE OFFICE OCCUPANCY RATE - DFW MARKET
88.0%
85.8% 86.0%
86.0% 85.3% 85.6% 85.4% 85.2%
84.6%
84.0% 83.8%
84.0% 83.5% 83.3% 82.4%
82.5% 82.3%
81.9% 82.1% 82.0%
82.0% 83.2%
80.5% 80.3%
80.0% 79.8% 79.7%

78.0%
77.7%
76.0% 75.6% 75.7%
74.7%
74.0%

72.0%

70.0%

68.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2022 - Q2

Warning Trend:
Decreasing occupancy rates Calendar Year

If the economy is sluggish or declining, demand for residential, commercial, and industrial property may drop
and occupancy rates may decline. Tracking changes in occupancy rates can provide an early warning of potential
economic or demographic problems.

Office Occupancy Rate - DFW
Calendar Year Office Occupancy Rate - Southlake
Market
2009 75.6% 83.5%
2010 74.7% 82.5%
2011 75.7% 83.3%
2012 79.8% 84.0%
2013 81.9% 84.6%
2014 82.1% 85.3%
2015 80.5% 85.8%
2016 82.3% 86.0%
2017 77.7% 85.6%
2018 80.3% 85.4%
2019 82.0% 85.2%
2020 79.7% 83.8%
2021 82.2% 82.4%
2022 (Through Q2) 83.2% 82.4%

BUDGET BOOK | FY 2023 City of Southlake 97
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