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Houston apartment 2Q 2013: Marcus & MillichapHouston apartment 2Q 2013: Marcus & Millichaphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=67792013-07-23T12:08:00Z2013-07-22T10:00:00Z

HOUSTON - Developers will deliver 9,250 apartments in 2013, up 77 percent from 2012. The Downtown/West Inner Loop area will record the most significant inventory growth, followed by the Greenway Plaza/Upper Kirby, Galleria/Uptown and Medical Center/University submarkets.

Houston Submarket Vacancy Rate 2Q 2013*
Rank Submarket Vacancy
Rate
Effective
Rents
Y-O-Y
1 East Inner Loop 3.3% $949 2.6%
2 Katy 3.6% $1,046 5.8%
3 Cypress / Waller 3.7% $991 4.2%
4 Rosenberg /
Richmond
4.0% $862 3.0%
5 Friendswood /
Pearland / Alvin
4.2% $931 3.4%
6 Downtown /
West Inner Loop
4.4% $1,575 4.0%
7 Galleria / Uptown 4.4% $1,226 3.7%
8 Sugar Land / Stafford 4.4% $1,041 6.6%
9 Far West Houston 4.5% $918 7.7%
10 Conroe /
Montgomery County
4.6% $815 3.3%
11 Medical Center /
University
4.6% $1,165 9.8%
12 The Woodlands 4.6% $1,091 6.6%

*The chart does not represent all submarkets in the report.

Marcus & Millichap Real Estate Investment Services
Houston-The Woodlands-Sugar Land
Multifamily
http://www.marcusmillichap.com/Read more at {Source}

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