CopyPastehas never been so tasty!

Houston Apartment Market Update

by anonymous

  • 0
  • 0
  • 0

Market Summary

  • Key metrics for the Houston area multifamily sector recorded mostly positive changes in September.

  • Occupancy figures recorded changes for all classes. For Class A properties the average went up by 0.01% over the month, while on a year-over-year basis it increased by 1.27% to close at 94.97%. Class C properties recorded the largest increase over the year; the average went up by 2.30% to close at 85.47%.

  • Increases were noted in the average rental rates per square foot for all classes. For Class A properties, the average went up by $0.005 over the month to close at $1.216 per square foot. For Class B properties, the average increased by $0.003 to close at $0.859 per square foot. Class A properties also recorded the largest annual increase ($0.037 per square foot).

  • Average rental rates per unit recorded significant changes, especially for Class A properties. For Class A, the average went up by $4.91 over the month and by $33.60 over the year to close at $1,154.51 per unit. The average for Class B properties went up by $2.27 over the month to close at $706.20 per unit.

  • 12,621 units are in the construction pipeline, spread over 50 projects. Over 11% of these (or 1,471 units) are currently pre-leasing.

Houston Apartment Market Key Metrics



 Rent / Unit


 Rent / SF


 Monthly Change


 Monthly Change


 Monthly Change


 Annual Change


 Annual Change


 Annual Change


Monthly absorption in Houstonwas positive 485 units while annual absorption (rolling twelve months) totaled positive 11,808 units. 6,201 units are in the planning stage.

Real estate decision makers need timely market data to make informed decisions. It provides insights regarding construction, proposed projects, absorption, and occupancy and rental rate trends. O’Connor and Associates has been providing real estate data since 1988. Both internal and external clients regularly use our real estate market research. The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Dallas retail space leasing, Houston Industrial Space To Lease , Houston industrial space leasing, Houston apartments, Dallas apartments, Fort Worth apartments, Houston Commercial Industrial Space For Lease Austin apartments, and San Antonio apartments.


Add A Comment: