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O'CONNOR REAL ESTATE EVENTS |
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- Office Forecast Luncheon
November 18th, 11:30 a.m. - 1:00 p.m.
Location:
Courtyard on St. James, 1885 St. James Place, Houston
Speakers:
Scott Ison, Axis Tenant Advisors
Jon Silberman, NAI Houston
Register Now!
- Apartment Forecast Luncheon
December 9th, 11:30 a.m. - 1:00 p.m.
Location:
Courtyard on St. James, 1885 St. James Place, Houston
Speakers:
Ed Nwokedi, Cushman & Wakefield of Texas, Inc.
Craig LaFollette, Holliday Fenoglio Fowler, L.P.
Register Now!
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Houston Apartment Market Update - June 2007July 9, 2007
Houston Apartment Market Update - June 2007
Click here for graphs and a PDF version of this article.
The Houston market posted a decline in occupancy in June, and occupancy continues to be the lowest of the major Texas markets. However, rental rate increases in June were strong but continue to be at the low end of rents in other major markets in Texas. Demand was robust in Houston during June; monthly absorption figures were the strongest compared to other Texas markets.
Houston apartment market occupancy increased 0.14 points in June to 88.51%; occupancy is down 1.79 points since this time last year. Rental rates per square foot posted an increase of $0.002 psf to $0.841 psf, and are up $0.015 psf over the last year. Average rent per unit increased $1.81 in June, bringing the average to $717.73; average rent per unit has gained $15.58 over the past 12 months. The market absorbed a healthy 1,303 units over the month; five consecutive months of positive absorption has helped annual absorption rebound significantly to 5,151 units.
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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