$0
Average Rent
$1,307 average rent in Houston, Q2 2026
0%
Occupancy Rate
89% occupancy rate Houston, Q2 2026
0
T4Q Net Absorption
9,307 T4Q net absorption in Houston, Q2 2026
0%
Annual Rent Change
-2% annual rent change in Houston, Q2 2026
0
BPS Annual Occupancy Change
-100 BPS annual occupancy change in Houston, Q2 2026
0
T4Q Unit Completions
16,210 T4Q net absorption in Houston, Q2 2026
Key Takeaways
- Trailing 12-month deliveries of 16,210 units have outpaced absorption of 9,307 units, despite Q2’s absorption of 5,920 units which nearly triples Q1 absorption, signaling strengthening demand momentum as the supply cycle moves past peak.
- The construction pipeline is contracting meaningfully, with trailing 12-month starts declining to 7,658 units and 11,461 units remaining under construction (1.5% of inventory), positioning the market for reduced delivery pressure through 2027.
- Effective rents have declined 2.3% year-over-year to $1,307, the smallest decline among Texas’ major metros, while stabilized occupancy of 88.7% reflects a 100 basis point annual decline.
Market Outlook
Houston’s multifamily market is past the peak of its supply cycle but has not yet turned the corner on fundamentals. With 11,461 units under construction (1.5% of inventory)…
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