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O'CONNOR REAL ESTATE EVENTS |
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- Office Forecast Luncheon
September 22, 11:30 a.m. - 1:00 p.m.
Location:
Courtyard on St. James, 1885 St. James Place, Houston
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- Apartment Forecast Luncheon
October 20, 11:30 a.m. - 1:00 p.m.
Location:
Courtyard on St. James, 1885 St. James Place, Houston
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- Industrial Forecast Breakfast
November 17, 7:30 a.m. - 9:00 a.m.
Location:
Courtyard on St. James, 1885 St. James Place, Houston
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Houston Apartment Market Update - May 2007June 12, 2007
Houston Apartment Market Update - May 2007
Click here for graphs and a PDF version of the full article.
The Houston market posted a decline in occupancy in May and occupancy continues to be the lowest of the major Texas markets. However, rental rate increases in May were strong; rental rates continue to be at the low end of rents in other markets around the state. Demand was strong in Houston in May; monthly absorption figures were average compared to other Texas markets.
Houston apartment market occupancy decreased 0.32 points in May to 88.37%; occupancy is down 2.21 points since this time last year. Rental rates per square foot posted an increase of $0.002 psf to $0.839 psf, and are up $0.014 psf over the last year. Average rent per unit increased $1.97 in May, bringing the average to $715.92; average rent per unit has gained $14.21 over the past 12 months. The market absorbed 224 units over the month; however, annual absorption remains in the red at -3,305 units.
» Read more Houston apartment trends
ApartmentLink is your best source for apartment market data in Houston, Dallas/Ft. Worth, Austin and San Antonio. With information on owners, occupancy, rent, ammenities, detailed property information, comparable information, and much more, ApartmentLink provides vital apartment information for on-site managers, vendors, brokers, owners and investors. The database is available online at oconnordata.com.
Ask about your FREE 10-Day trial for the most accurate online Texas apartment data today! Click here to sign up or contact Heather Wiesner at 713-375-4262.
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