{"id":2816,"date":"2022-01-06T12:49:00","date_gmt":"2022-01-06T12:49:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2816"},"modified":"2023-09-21T11:07:37","modified_gmt":"2023-09-21T11:07:37","slug":"houston-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/houston-multifamily-market-report-fall-2021\/","title":{"rendered":"Houston Multifamily Market Report (Fall 2021)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Deliveries Accelerate, Transactions Skyrocket<\/h2>\n\n\n\n<p>Houston\u2019s rental market has seen especially meaningful progress in 2021, with rising oil prices and improving overall economic conditions supporting multifamily fundamentals. On a trailing three-month basis through October, Houston rents were up by 1.3% to $1,231. On a year-over-year basis, the average was up 10.3%.<\/p>\n\n\n\n<p>Unemployment slid to 6.1% in August, while September preliminary data pointed to a 60-basis-point improvement. Houston added 139,400 jobs during the 12 months ending in August, with the greatest increases occurring in the hospitality sector, which is experiencing a nationwide recovery. Meanwhile, although the metro\u2019s economic base is still tied to the oil industry, Houston has made strides to diversify its economy. The city\u2019s business-friendly environment and expanding talent pool have prompted Hewlett Packard Enterprise to relocate its global headquarters from San Jose, Calif., to the Houston region starting early next year. Great Lakes Dredge &amp; Dock Co., one of the largest providers of dredging services, is also moving its corporate office from Chicago.<\/p>\n\n\n\n<p>Despite the booms and busts of the past decade, investors and developers are confident in the metro\u2019s longer-term potential. A record $6.8 billion in multifamily assets changed hands across the greater Houston area in the first 10 months of the year, and 15,696 units came online.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1376-MatrixMultifamilyHoustonReport-Fall2021\">Matrix Multifamily Houston Report-Fall 2021<\/a><\/strong><\/p>\n\n\n\n<div class=\"wp-block-spacer\" style=\"height: 46px;\" aria-hidden=\"true\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Deliveries Accelerate, Transactions Skyrocket Houston\u2019s rental market has seen especially meaningful progress in 2021, with rising oil prices and improving overall economic conditions supporting multifamily fundamentals. On a trailing three-month basis through October, Houston rents were up by 1.3% to $1,231. On a year-over-year basis, the average was up 10.3%. Unemployment slid to 6.1% in [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,28],"tags":[466,221],"class_list":["post-2816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-news","tag-houston","tag-multifamily-outlook-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Houston Multifamily Market Report (Fall 2021) - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Houston\u2019s rental market has seen especially meaningful progress in 2021, with rising oil prices and improving overall economic conditions supporting multifamily fundamentals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/houston-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Houston Multifamily Market Report (Fall 2021)\" \/>\n<meta property=\"og:description\" content=\"Houston\u2019s rental market has seen especially meaningful progress in 2021, with rising oil prices and improving overall economic conditions supporting multifamily fundamentals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/houston-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-06T12:49:00+00:00\" \/>\n<meta property=\"article:modified_time\" 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