Apartment vacancies in Houston, at 6.4 percent through third quarter 2013, are down 1.2 percent from 3Q 2012, the fifth-largest drop among major markets in the nation, according to Reis Inc.
However, Houston's vacancy rate of 6.4 percent still remains relatively high, ranking 75th out of 79 markets. By comparison, vacancy in Austin through 3Q 2013 was 4.4 percent (48th); 5 percent in Dallas (59th); and 5.6 percent in San Antonio (70th).
Meantime, rents in Houston continue to rise, up 4.4 percent from a year ago, the sixth-largest increase among major markets. Average rent in Houston through 3Q 2013 was $810.72.
Read more...Houston apartment vacancies continue to drop via Real Estate Center at Texas A&M