For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Middle-Tier Assets Remain Strong in Houston’s Multifamily Market
Many high-end Houston apartments are offering concessions as even more competition comes online in the market.
Last year, 18,000 new apartment units were delivered to the market, while 27,000 units are forecasted for 2015.
Occupancy for luxury units had fallen to 85% from 91% two years ago, according to Apartment Data Services. Occupancy for middle- to lower-end apartments has remained strong with nearly 95% of units occupied, and rents for those units have risen quickly.
Read more at the Houston Chronicle