HOUSTON – According to a CBRE report, Class-B multifamily units have an occupancy rate of nearly 95 percent in the state's major metros, while Class-A occupancy has slipped to 86.8 percent.
In Houston, Class-B occupancy is at a record high.
Because of high land costs, experts say building a Class-B complex is not a viable option. The supply is further tightened as old buildings are torn down to make way for new Class-A towers.
Additionally, around 541,000 people moved to Houston between 2010 and 2014.
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