Houston Apartment Rentals Rise On New Arrivals, Tight Home Loan Market

Houston apartment rentals ticked up in September compared to September 2010.

high-rise apartmentsReal estate research firm O’Connor & Associates is reporting occupancy rates for Houston apartments reached 88.4% in September, an increase of 1.25% from a year earlier.

Carlos Bujosa, chairman of the Houston Association of Realtors, says the increase in rentals reflects the difficulty would-be homeowners face in getting a loan. He says it also points to how much worse the situation is elsewhere.

“There are quite a few people moving into the city of Houston seeking employment, and a lot of those people — possibly they might own a home in the market that they’re coming from that they can’t sell, because the markets in a lot of other parts of the country are just not anywhere near as strong as the market here in Houston or in Texas.”

O’Connor & Associates says more than 7,100 apartment units are in the construction pipeline for Houston, 21% of which are now pre-leasing.


Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

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