VALUED INSIGHTS

Invaluable Valuation Knowledge for the Real Estate Stakeholder

SERIES:
Multifamily Market Updates 2024
MARKET:
  1. Albuquerque MSA | NM
    2024  Q2 | Q3 | Q4
  2. Chicago MSA | IL
    2024  Q2 | Q3 | Q4
  3. Dallas MSA | TX
    2024  Q2 | Q3 | Q4
  4. Denver MSA | CO
    2024  Q2 | Q3 | Q4
  5. Flagstaff MSA | AZ
    2024  Q2 | Q3 | Q4
  6. Houston MSA | TX
    2024  Q2 | Q3 | Q4
  7. Las Vegas MSA | NV
    2024  Q2 | Q3 | Q4
  8. Los Angeles MSA | CA
    2024  Q2 | Q3 | Q4
  9. Orange County MSA | CA
    2024  Q2 | Q3 | Q4
  10. Phoenix MSA | AZ
    2024  Q2 | Q3 | Q4
  11. San Diego MSA | CA
    2024  Q2 | Q3 | Q4
  12. Tucson MSA | AZ
    2024  Q2 | Q3 | Q4
SERIES:
Multifamily Market Updates 2024
MARKET:

Houston MSA | TX

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Author: Jason D. Beakley, Certified General Appraiser
Published: October 7, 2024

Population Trends
Supply
Demand
Population7,510,252
Total Housholds2,682,645
Percentage of Households in Income Band66.4%
Income Qualified Housholds Income Band1,782,215
Propensity of Renter Occupied Housing In Market Area With Income Brand40%
Existing Competetive Supply712,886
Under Construction / Proposed Units71,289
Total Projected Supply784,175
Income qualified Households (Current Demand)690,455
Plus Friction Vacancy @ 10%19,305
Total potential demand for units in Defined Income Brand709,760
Residual Demand74,415
Indicated Penetration Rate90.5%

Data sourced by Crexi, CoStar & US Census Bureau

Reagan R. Schwarzlose
FRICS | MAI | CRE | CCIM
CEO | Principal
+1-480-440-2842 EXT. 06
Gregory S. Zachary
MAI
Director
+1-480-440-2842 EXT. 05