Houston is likely becoming a renter's market as new luxury apartments high continue to come on line while job and population growth are slower than when the ground was broken on tens of thousands of units.
A midyear report seems to validate concerns forecast by economists earlier this year that Houston's apartment market was overbuilt. The total occupancy in April was 90.1 percent, according to an analysis from the Greater Houston Partnership. The analysis says that conventional wisdom holds that renters hold the cards in a market with occupancy rate below 90 percent. The rate is expected to fall into the mid-80s.
Read more...Houston becoming a 'renter's market' with apartment glut - San Antonio Express-News