El Paso Rental PropertiesWhile increases in values of multi-family El Paso rental properties have been moderate, single family units have lead the real estate market in sales. This may be about to change. The credit crunch and local home prices may force some would-be home buyers to hold off on buying that first home. If so, El Paso rental properties could see an increase in rent from the somewhat modest $.67 per square foot. At roughly 94%, local multi-family occupancy rates are already several points higher than the Texas average of 91.4 %. Many in the industry consider occupancy of 95% to be the signal to raise rents. And with apartment projects making up only the 3% of new construction that percentage could reached very soon. If you're looking for El Paso apartments for sale, you're most likely to find small duplexes and four-plexes rather than larger twenty or thirty unit complexes. So far, there hasn't been too much incentive for owner-investors to sell. But that, too, may change if spill-over from the single family market continues.
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