-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 9jjEJcIhC/PkAotaJCAg1w==

<SEC-DOCUMENT>0000906345-03-000121.txt : 20031119
<SEC-HEADER>0000906345-03-000121.hdr.sgml : 20031119
<ACCEPTANCE-DATETIME>20031119203045
ACCESSION NUMBER:		0000906345-03-000121
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031117
FILED AS OF DATE:		20031119

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:			ODEN D KEITH
		CENTRAL INDEX KEY:			0001020942
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12110
		FILM NUMBER:		031014142

	BUSINESS ADDRESS:	
		STREET 1:		3 GREENWAY PLAZA
		STREET 2:		STE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		7133542500

	MAIL ADDRESS:	
		STREET 1:		3 GREENWAY PLAZA
		STREET 2:		STE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dkoform4_11-17ex.xml
<TEXT>
<XML>
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<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
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   <periodOfReport>2003-11-17</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
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        <issuerCik>0000906345</issuerCik>
        <issuerName>CAMDEN PROPERTY TRUST</issuerName>
        <issuerTradingSymbol>(CPT)</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001020942</rptOwnerCik>
            <rptOwnerName>ODEN D KEITH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3200 SOUTHWEST FRWY</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1500</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77027</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Trust Manager, President &amp; COO</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
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         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
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         <transactionPricePerShare>
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      <transactionDate>
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      </exerciseDate>
      <expirationDate>
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      </expirationDate>
      <underlyingSecurity>
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         <value>Options to purchase common shares</value>
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         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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         <transactionShares>
           <value>210748</value>
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         <transactionPricePerShare>
           <value>0</value>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-06-19</value>
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      <expirationDate>
         <value>2010-06-19</value>
      </expirationDate>
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         <underlyingSecurityTitle>
           <value>Common Shares of Beneficial Interest</value>
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           <value>210748</value>
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           <value>1031415</value>
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           <value>D</value>
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      <securityTitle>
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            <footnoteId id="F4"/>
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      <conversionOrExercisePrice>
         <value>30.75</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-17</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>3252</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-06-19</value>
      </exerciseDate>
      <expirationDate>
         <value>2010-06-19</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Shares of Beneficial Interest</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>83534</value>
         </underlyingSecurityShares>
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           <value>1090517</value>
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 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Granted by the committee appointed in accordance with the provisions of Camden Property Trust's (the &quot;Company&quot;) Rabbi Trust and represents the difference between the exercise price of the employee stock option described immediately above and the market price of the Shares on the date of exercise, as adjusted for the exercise price of this option (which is equal to 10% of the value of the Shares as of the date of grant).</footnote>

      <footnote id="F2"> Granted by the committee appointed in accordance with the provisions of the Company's Rabbi Trust and represent the difference between the exercise price of the two employee stock options described immediately above and the market price of the Shares on the date of exercise, as adjusted for the exercise price of this option (which is equal to 10% of the value of the Shares as of the date of grant) and held in the Rabbi Trust pursuant to a grant by the committee.</footnote>

      <footnote id="F3"> The Reporting Person acquired Shares through the exercise of vested options in accordance with the Company's 1993 Share Incentive Plan. These options vested on February 15, 2003.</footnote>

      <footnote id="F4"> The Reporting Person acquired Shares through the exercise of vested options in accordance with the Company's 1993 Share Incentive Plan. These options vested in equal installments in June 2001, June 2002 and June 2003.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Dennis M. Steen, Attorney-In-Fact</signatureName>
      <signatureDate>2003-11-19</signatureDate>
   </ownerSignature>
</ownershipDocument>

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-----END PRIVACY-ENHANCED MESSAGE-----