Houston Multifamily Occupancy & Rents Up In 2Q 2019

HOUSTON – (RECON-Texas A&M) – July 30, 2019 – Local multifamily occupancy (90.2 percent) and rents ($1.17 per square foot) significantly rose over the year in second quarter 2019, improving on the flat rent and occupancy growth in the prior quarter reached 10,094 units, which means Houston has already absorbed more in two quarters than it had all of last year.

Deliveries (3,303 units) are up compared with last year, as is the number of units identified as under construction (22,094 units).

High-wage job growth has remained strong thanks to manufacturing and professional services job.