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ARA multifamily overview 2015: Houston, DFW, SA, AustinARA multifamily overview 2015: Houston, DFW, SA, Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=4612015-07-07T14:15:00Z2015-07-07T08:00:00Z

HOUSTON - All major Texas markets are above 91 percent occupancy and experiencing impressive rent growth according to ARA Newmark, who released the Houston Multifamily Overview report on April 30, 2015.

In 2014, job growth in each market exceeded 3.1 percent and healthy job growth is projected in 2015.

Texas Multifamily Fundamentals
  Houston DFW* San
Antonio
Austin
Total units 594,243 632,002 165,000 188,266
Average occupancy 91.2% 92.8% 91.3% 91.0%
2015 Rent growth
(T12** Apr. 2015)
5.7% 5.6% 3.5% 5.0%
2014 Rent growth 7.8% 6.1% 3.4% 6.0%
Absorption
(T12** Apr. '15)
15,871 16,242 6,068 7,781
Absorption (2014) 15,918 14,277 5,804 7,513
Under construction
(Apr. '15)
26,490 16,404 5,513 8,355
Now leasing (Apr. '15) 20,406 16,138 5,267 11,039
2013 Job growth 3.7% 2.9% 3.2% 4.7
2014 Job growth 3.4% 3.5% 3.2% 4.1%
2015 Job Y-O-Y
(Feb. '15)
3.1% 4.1% 3.7% 3.0%


*Dallas-Fort Worth
**T12: trailing 12 months

See the full ARA Newmark Houston Multifamily Overview April 2015 (PDF) includes data from Austin, DFW and San Antonio in the report.

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