Jul 22, 2013
Houston apartment 2Q 2013: Marcus & Millichap
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...
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.
| 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.
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