February 2014

Click here to view as PDF.

  

Market Summary

  • Key metrics for the Houston area multifamily sector recorded both positive and negative changes in February 2014.

  • Occupancy figures for the classes recorded both positive and negative changes over the month. Class A recorded an unchanged figure from previous month. The average also went down by 0.73% over the year for Class A properties. The largest annual increase was noted for Class C properties with an average increase of 1.75% to close at 88.13%.

  • The average rental rates per square foot reportedly had marginal changes for all classes for the month. Rental rates for Class A reported an unchanged figure over previous month. Class C also reported the largest monthly increase of $0.003 per square foot. The largest annual increase was noted for Class A properties, an increase of $0.046 per square foot to close at $1.27 per square foot.

  • Average rental rate per unit recorded a significant change for all Classes. The largest monthly increase was noted for Class D properties with an average increase of $2.62 per square foot. On a year-on-year basis the average for Class A properties went up by $41.93 to close at $1,205.92 per unit, which is the largest yearly increase among all classes.

  • 15,872 units are in the construction pipeline, spread over 59 projects. 32.57% of the pipeline is currently pre-leasing.

Houston Apartment Market Key Metrics

 Occupancy

91.60%

 Rent / Unit

$828.74

 Rent / SF

  $0.959

 Monthly Change

-0.31%

 Monthly Change

+$1.28

 Monthly Change

 +$0.002

 Annual Change

+0.90%

 Annual Change

+$32.88

 Annual Change

+$0.038

Monthly absorption in Houston was positive 1,109 units while annual absorption (rolling twelve months) totaled to positive 10,824 units. 10,396 units are in the planning stage.

To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call 1-800-856-REAL (7325) ext. 4264.

O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955  


 


 

 

O'Connor & Associates -- Your Key to Real Estate Success
Corporate Office:
2200 North Loop W., Suite 200
Houston, TX 77018
1-800-856-7325


www.poconnor.com www.oconnordata.com
Houston Dallas San Antonio

@oconnordata    
If you would like to be removed from this list and receive no real estate information from us in future, click here to unsubscribe.