Has Multifamily Turned a Corner?

Houston is one of the cities with the fastest growing rents in the country.

HOUSTON—The multifamily market appears to have turned a corner, with demand outpacing deliveries by more than two-to-one, according to Berkadia’s first quarter 2018 Houston multifamily report. Renters newly occupied 2,971 apartment units during the first quarter of the year–more units by far than any other metro area, except Dallas-Fort Worth and New York City (with 4,340 and 3,148 units newly occupied respectively).

“There continues to be a lot of capital in the market looking for deals. While interest rates are rising, they are still historically low and Houston is well-priced relative to other major markets,” says Tucker Knight, senior managing director of Berkadia. “As a result, we anticipate continued investor interest and deal activity in the year to come.”