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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 /LdkQKKZoij8H5QUMTMLRg==

<SEC-DOCUMENT>0001005477-03-000751.txt : 20030509
<SEC-HEADER>0001005477-03-000751.hdr.sgml : 20030509
<ACCEPTANCE-DATETIME>20030509173542
ACCESSION NUMBER:		0001005477-03-000751
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030508
FILED AS OF DATE:		20030509

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMDEN PROPERTY TRUST
		CENTRAL INDEX KEY:			0000906345
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				766088377
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		THREE GREENWAY PLAZA
		STREET 2:		SUITE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		7139643555

	MAIL ADDRESS:	
		STREET 1:		THREE GREENWAY PLZ
		STREET 2:		SUITE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WEBSTER STEVEN A
		CENTRAL INDEX KEY:			0001008023

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12110
		FILM NUMBER:		03691298

	BUSINESS ADDRESS:	
		STREET 1:		1675 BROADWAY STE 2400
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		7138238103

	MAIL ADDRESS:	
		STREET 1:		1675 BROADWAY STE 2400
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
    <periodOfReport>2003-05-08</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
<issuer>        <issuerCik>0000906345</issuerCik>
        <issuerName>CAMDEN PROPERTY TRUST</issuerName>
<issuerTradingSymbol>(CPT)</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
        <rptOwnerCik>0001008023</rptOwnerCik>
            <rptOwnerName>WEBSTER STEVEN A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeSecurity>
        <securityTitle>
            <value>Option to purchase common shares</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>34.92</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-08</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>A</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>2222</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-05-08</value>
            <footnoteId id="F2"/>
        </exerciseDate>
        <expirationDate>
            <value>2008-05-08</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Shares of Beneficial Interest</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>2222</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>18132</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">Grant to Independent Trust Managers pursuant to the 2002 Share Option Incentive Plan.</footnote>
        <footnote id="F2">Options represent the right to purchase shares from the Company's Rabbi Trust at a price equal to 10% of the value of the shares at the date of grant.  Options vest in varying amounts Beginning May 8, 2004 and continuing through May 8, 2008 and expire twenty years from the vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Steven Webster</signatureName>
        <signatureDate>2003-05-08</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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