November 2014

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Market Summary

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

  • Occupancy figures for the classes recorded both positive and negative changes over the month. Class A recorded a decrease of 0.05% from previous month. The average went down by 1.25% over the year for Class A properties. The largest annual increase was noted for Class D properties with an average increase of 0.92% to close at 87.08%.

  • The average rental rates per square foot reportedly had marginal changes for all classes for the month. Rental rates for Class A reported increase by $0.006 per square foot over previous month, which is also the largest monthly increase among other classes. The largest annual increase was also noted for Class A properties, an increase of $0.041 per square foot to close at $1.306 per square foot.

  • Average rental rate per unit recorded a significant change for all classes. Class A properties reported an increase of $4.63 per square foot over month. On a year-on-year basis the average for Class A properties went up by $37.06 to close at $1,235 per unit, which is the largest yearly increase among all classes.

  • 28,211 units are in the construction pipeline, spread over 100 projects. 21.97% of the pipeline is currently pre-leasing.

Houston Apartment Market Key Metrics



 Rent / Unit


 Rent / SF


 Monthly Change


 Monthly Change


 Monthly Change


 Annual Change


 Annual Change


 Annual Change


Monthly absorption in Houston was positive 1,183 units, while annual absorption (rolling twelve months) totaled to positive 10,096 units. 12,772 units are in the planning stage.

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




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