Houston Apartment Market Update

By Author: Patrick Oconnor
Total Articles: 42
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Key metrics for the Houston area multifamily sector recorded mostly positive changes in October.

Occupancy figures recorded changes for all classes. For Class A properties the average went down by 0.021% over the month, while on a year-over-year basis it increased by 1.16% to close at 94.76%. Class C properties recorded the largest increase over the year; the average went up by 2.44% to close at 85.76%.

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 $1.221 per square foot. For Class B properties, the average increased by $0.001 to close at $0.860 per square foot. Class A properties also recorded the largest annual increase ($0.039 per square foot).

Average rental rates per unit recorded significant changes, especially for Class A properties. For Class A, the average went up by $4.56 over the month and by $35.66 over the year to close at $1,159.07 per unit. The average for Class D properties went up by $1.66 over the month to close at $563.51 per unit.

12,576 units are in the construction ...
... pipeline, spread over 49 projects. Over 11.34% of these (or 1,426 units) are currently pre-leasing.

Brokers, developers, lenders, investors and management companies utilize OConnordata for information regarding San Antonio apartments, Austin apartments, Houston Apartments, Fort Worth apartments and Dallas apartments. 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 Industrial Space For Lease Houston office space leasing, Dallas retail space leasing, Dallas industrial leasing, Houston industrial space leasing, Houston apartments, Houston Industrial Space To Lease Dallas apartments, Fort Worth apartments, Austin apartments, and San Antonio apartments.

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