HOUSTON – The average occupancy rate for the Class C apartment market reached 93.5 percent in the second quarter, according to Transwestern. The Class C segment outperformed other classes of multifamily, although Class B units also are outstanding.
Exceptionally high apartment occupancy rates are reported in submarkets including Sharpstown, Channelview, Alief, Jersey Village, FM 1960 and other markets with more affordable rental rates.
Sixty-nine apartment projects with a total of 18,170 units are under construction, Transwestern reported. Many of those projects will be completed in 2017, pointing to market stabilization in 2018.
August 5, 2016 – Copyright Realty News Report 2016