Data Room

Houston, Texas

Year over Year as of 6/30/21

Houston, Texas

Year over Year as of 6/30/21

  • Population Growth

    .01%

  • Rent Growth

    4.7%

  • Employment Growth

    -2.7%

  • Occupancy Rate

    93.4%

  • New Supply

    20,207 units

  • % of Stock

    2.1%

  • Acquisition Price

    9%

  • Cap Rate

    -40 bps

Market Dynamics

Home prices in Houston surged 19% due to migration over the last 12 months creating a significant gap between average monthly mortgage payments and average apartment rental rates, increasing demand for apartments. Employment is steadily growing and expected to be only 2.2% below 2019 totals by year end 2021.

Sources: CoStar, Real Capital Analytics, RealPage, Marcus & Millichap

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