Houston ranks atop most U.S. metros for job creation, household formation and net migration, which supports expectations for the local apartment market to finish the year strong, according to Marcus & Millichap's Fourth Quarter 2014 ApartmentResearch Market Report.
Multifamily permit activity jumped 74 percent to nearly 24,600 units during the past 12 months. During 2014, Houston’s prime renter-age cohort will grow by 1.9 percent, or 26,100 residents, and developers will complete 13,100 apartments, a sizable increase from 2013, when 9,600 units were delivered.
Read more...Houston: Marcus & Millichap 4Q 2014 apartment report
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