News By Tag
News By Place
Follow on Google News
Houston Multifamily Market Report| Quarter 2 | 2022
By: Colliers | Houston
Demand for multifamily housing increased between quarters recording 3,185 units of net absorption compared to 1,853 the previous quarter. The average monthly rent for multifamily units increased 3.0% over the quarter from $1,212 per month in Q1 2022 to $1,248 per month in Q2 2022. There are over 15,000 units under construction and another 35,200 units are proposed. Occupancy remained steady over the quarter at 91.4% and increased over the year from 90.6% in Q2 2021 to 91.4% in Q2 2022.
Houston's overall occupancy rate increased 80 basis points over the year. The average monthly rent rose 5.1% from $1,188 in Q2 2021 to $1,248 in Q2 2022.
Pricing & Sales Volume
After reaching a historical high in Q4 2021, Houston's multifamily investment sales volume dropped dramatically over the first half of 2022 from $8.6 billion to $3.2 billion in Q2 2022. However, sales volume increased 37% on an annual basis between Q2 2021 to Q2 2022 according to our data provider...To read the full report click here: https://www.colliers.com/