Apartment rents slip while occupancy grows via Houston Chronicle

Houston-area apartments continue to fill up even as more units are delivered and the oil price crash clouds the outlook for this segment of the real estate market.

Occupancy ticked up at the end of February to 94.2 percent, compared with 93.9 percent the previous month, according to new data from apartment research firm Axiometrics. Occupancy a year earlier was essentially flat.

Rent growth, however, slowed slightly from last year and last month, as landlords are becoming a little more flexible on price to fill units. Renters paid an average of $1,057.64 per unit in February.

Read more...Apartment rents slip while occupancy grows - Prime Property