Housing demand skyrocketing in HoustonHousing demand skyrocketing in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=176472017-09-05T05:00:00Z2017-09-05T19:00:00Z

Picture of flooding in HoustonHOUSTON – Temporary housing demand is skyrocketing in the wake of Hurricane Harvey, which will likely increase rental rates.

It’s possible that there could be at least 250,000 displaced residents in the greater Houston area alone.

This sudden spike in housing demand will likely overwhelm supply, while also raising rents, according to Houston Realtors and multifamily experts.

There are some 640,000 apartment units in the greater Houston area with an average occupancy rate of 89 percent, which leaves about 70,400 vacant units in the Bayou City.

The spike in housing demand—particularly for apartments—will likely be a boom for Houston’s multifamily industry. 
Houston Business Journal
Houston-The Woodlands-Sugar Land

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