Nov 7, 2017
Berkadia: Houston apartment submarket trends 3Q 2017
HOUSTON AREA – Berkadia has released its Houston multifamily report for 3Q 2017. In just one month following Harvey, metrowide apartment occupancy rose 120 basis points to 90.1 percent in September...
HOUSTON AREA – Berkadia has released its Houston multifamily report for 3Q 2017.
In just one month following Harvey, metrowide apartment occupancy rose 120 basis points to 90.1 percent in September 2017.
The heightened demand translated into a 1.4 percent monthly increase in effective rent to $999 per month in September.
So far in 2017, construction completed on 11,298 units, although it is not currently known how many of these units were damaged in the storm.
As of September 2017, 39 apartment communities were under construction, bringing 10,052 units online for the upcoming years.
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