ARA Newmark: Houston multifamily report 2015 | ARA Newmark: Houston multifamily report 2015 | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=425 | 2015-07-09T08:39:00Z | 2015-07-09T14:00:00Z |
HOUSTON - ARA Newmark's Houston Multifamily Overview report is available.
Overall, Houston grew 5.7 percent in the past 12 months as of April 30, 2015, in rental rates.
Disregarding new construction, the overall Houston market is currently 91.2 percent concerning occupancy.
1Q 2015 Houston Multifamily Fundamentals
|
Overall
Market |
2013
Construction |
2014-2015
Construction |
Class A
(w/o '13&'14) |
Class B
(w/o '13&'14) |
Class C |
Number of units |
594,243 |
12,186 |
24,700 |
112,063 |
197,095 |
179,518 |
Occupancy |
91.2% |
91.1% |
39.9% |
93.6% |
94.5% |
94.0% |
Price per SF |
$1.07 |
$1.55 |
$1.60 |
$1.47 |
$1.05 |
$0.85 |
Price per Month |
$939 |
$1,475 |
$1,533 |
$1,402 |
$914 |
$713 |
Rent growth (T12)* |
5.7% |
1.1% |
- |
2.4% |
7.0% |
6.1% |
Rent growth (T3)** |
6.6% |
3.6% |
- |
4.5% |
6.7% |
7.1% |
Absorption (T12)* |
15,871 |
3,309 |
8,413 |
-1,403 |
404 |
3,204 |
Absorption (T3)** |
5,598 |
309 |
2,370 |
211 |
312 |
1,514 |
*T12: trailing 12 months
**T3: trailing three months
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