News
West Houston Leads the Country in Multifamily Development
June 15, 2015
West Houston delivered more than 22,000 multifamily units in the last 12 months, far and away the most in the nation, according to a study by Yardi Matrix. (Denver was a distant second with 15,600 units.) Of course, the report, published by Commercial Property Executive, takes an incredibly broad view of "West Houston"—basically anything west of 45, all the way from Rosenberg to Conroe. (Yardi Matrix says it includes 33 submarkets in the area.) There are still 30,000 units underway there, but the report notes that rent increase of 3.9% plus lowered oil prices may be signaling an end to development. [CPE]
