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Houston Apartment Market Update - April 2015
Market Summary

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  • Key metrics for the Houston area multifamily sector recorded both positive and negative changes in April 2015.

  • Occupancy figures for the classes recorded both positive and negative changes over the month. Class A recorded a decrease of 0.15% from previous month. The average went down by 2.04% over the year for Class A properties. The largest annual increase was noted for Class D properties with an average increase of 2.82% to close at 87.96%.

  • 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 $0.004 per square foot over previous month, and $0.047 per square foot over the year. The largest annual increase was also noted for Class A properties.

  • Average rental rate per unit recorded a significant change for all classes. Class A properties reported an increase of $3.54 per square foot over month, which is also the largest monthly increase among other classes. On a year-on-year basis the average for Class A properties went up by $41.84 to close at $1,250 per unit, which is the largest yearly increase among all classes.

  • 22,104 units are in the construction pipeline, spread over 78 projects. 16.43% of the pipeline is currently pre-leasing.


  • Monthly absorption in Houston was positive 979 units, while annual absorption (rolling twelve months) totaled to positive 9,732 units. 12,697 units are in the planning stage.
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