Houston Apartment Market Projected to Improve in 2019

Houston Apartment Market Projected to Improve in 2019

2019-01-23T16:39:44-07:00January 23rd, 2019|Advocacy|

Houston’s apartment market is projected to improve this year, fed by a job market that’s poised to grow and millennials who favor renting over home ownership, developers and analysts told about 300 members of the Houston Apartment Association on Tuesday.

Overall apartment occupancy is expected to reach 90 percent this year — up slightly from 2018 — and rents are projected to increase by 3 percent, to an average of $1,054 for an 882-square-foot apartment, according to data presented by Bruce McClenny, president of ApartmentData.com.

While some landlords are still offering generous concessions in inner-loop neighborhoods that saw the lion’s share of construction in recent years, rental perks are waning overall.

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