Page 97 - Southlake FY24 Budget

Office Occupancy Rate

OFFICE OCCUPANCY RATE - SOUTHLAKE OFFICE OCCUPANCY RATE - DFW MARKET
88.0%
85.8% 86.0% 85.6%
86.0% 85.3% 85.4% 85.2%
84.6%
84.0% 83.8%
84.0% 83.5% 83.3% City Profile
82.5% 82.3% 82.4% 82.7%
81.9% 82.1% 82.0% 82.2%
82.0% 82.2%
80.5% 80.3% 82.2%
80.0% 79.8%
78.6%
79.7%
78.0%
77.7%
76.0% 75.6%
74.7%
75.7%
74.0%

72.0%

70.0%

68.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 -
Q2
CALENDAR YEAR

Warning Trend: Decreasing occupancy rates
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.

Calendar Year Office Occupancy Rate - Southlake Office Occupancy Rate - DFW Market

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 82.2% 82.7%
2023 (Through Q2) 78.6% 82.2%

FY 2024 City of Southlake | Budget Book 97