Q1 2021 | Houston Multifamily Market Report

HOUSTON - May 26, 2021 - PRLog -- Key Takeaways

• Occupancy up quarter over quarter, down annually
• Absorption increased quarterly and annually
• Average rents rose over the year and over the quarter
• Inventory increased by 16,969 units March '20 to March '21

Houston Highlights

According to Emsi Labor Analytics, as of 2020 Houston's regional population has increased by 7.5% since 2015, growing by 500,885. Population is expected to increase by 7.6% between 2020 and 2025, adding 544,540. From 2015 to 2020, jobs increased by 2.3% in Houston-The Woodlands-Sugar Land, TX from 3,276,633 to 3,350,731. This change outpaced the national growth rate of 1.3% by 1.0%. As the number of jobs increased, the labor force participation rate decreased from 62.9% to 60.6% between 2015 and 2020. Concerning educational attainment, 21.0% of Houston-The Woodlands-Sugar Land, TX residents possess a Bachelor's Degree (1.0% above the national average), and 7.3% hold an Associate's Degree (1.3% below the national average). The top three industries in 2020 were General Medical/Surgical Hospitals, Education/Hospitals (Local Government) and Restaurants/Entertainment.

Pricing & Sales Volume

Houston's multifamily investment sales volume increased 24.1% over the quarter between Q4 2020 and Q1 2021 according to our data provider, Real Capital Analytics. The increase in volume reflects a... To read the full report, click here: https://www.colliers.com/en/research/houston/q1-2021-hous...