Jul 25, 2017
Where is strongest apartment demand in Houston
HOUSTON – Houston absorbed nearly 11,000 new apartment units during the first half 2017, a sign of growing demand for apartments as jobs return to the city. For comparison, Houston saw just...
HOUSTON – Houston absorbed nearly 11,000 new apartment units during the first half 2017, a sign of growing demand for apartments as jobs return to the city.
For comparison, Houston saw just about 4,500 apartments absorbed in all of 2016.
Demand is growing for apartments in many energy-centric neighborhoods across Houston, with absorption highest in Katy, The Woodlands, Spring and the Energy Corridor, according to new data from Apartment Data Services.
Houston currently has 7,900 apartment units under construction, of which 4,600 units is expected to be delivered in 2017 leaving about 3,300 units left for 2018.
For comparison, Houston was building about 30,000 new units at the height of the energy boom at the start of 2015.
Where apartment absorption was strongest in Houston during the first half 2017:
- Katy: 2,424 apartment units absorbed in the 12 months trailing June 2017
- The Woodlands: 1,854 units
- Spring: 1,843 units
- Energy Corridor: 1,648 units
- Heights: 1,159 units
- Downtown: 994 units
- Upper Kirby-West U: 814 units
- Med Center: 775 units
- Montrose/Midtown: 627 units
- Galleria: 199 units
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