CARROLLTON (ALN Apartment Data) – October 20, 2017 – Texas apartment markets added more than 12,000 units over the 3rd quarter, according to the latest report from ALN Apartment Data.
“Even with all the new units added, the only Texas markets to have noteworthy negative occupancy growth were College Station and Lubbock,” the report said.
“Competition in Austin is heating up and average rents fell 0.7 percent to $1,210 per unit. Laredo and Texarkana saw modest decreases of a few dollars per unit over the summer.
“Hurricane Harvey took its toll and damaged almost 15,000 units, but that managed to push average occupancy up 1.8 percent to 89.1 percent as the displaced tenants were absorbed elsewhere in the market. Rents in Houston also spiked up more than 2.4 percent to an average of $1,042 per unit.”