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Demand for multifamily units remains high in Katy area; more growth expected

Medical facilities, retail, great schools and economic growth make the Katy area a highly desirable place to live—even for young, single people who cannot afford homes—Apartment Data Services President Bruce McClenny said.

To meet this demand, developers are building multifamily complexes in the area. Since June 2018, four apartment complexes have opened in the Katy area, according to ADS data. Another 15 with about 5,000 units are under construction, and eight more are proposed.

Houston Community Impact (July 24, 2019) - Read The Full Article

5 Real Estate Trends to Know in Cedar Park and Leander in 2019

People are filling up apartment units in Leander and Cedar Park, causing rental rates to rise, according to data from Apartment Data Services, which provides information on multifamily properties.

The Cedar Park, Leander and Four Points submarket ranked the second-hottest submarket in the Austin area in June, according to ADS Southwest Regional Manager Cindi Reed.

Houston Community Impact (July 20, 2019) - Read The Full Article

Houston Rent Growth Slower Than In Other Texas Metros

Rent prices in Houston are growing the slowest among major Texas cities, according to new data.
At midyear, the average rent in Greater Houston climbed just 0.7% year-over-year to $1,045, according to ApartmentData.com.
That compares to an increase of 2.4% in Dallas/Fort Worth, 3.3% in San Antonio and 3.4% in Austin.
Bruce McClenny with ApartmentData.com said it still goes back to Harvey, which pushed up rents across Houston and ended an apartment glut.

Houston Public Media (July 20, 2019) - Read The Full Article

Apartment occupancy rises again as absorption drops

June’s occupancy rate rose 10 basis points to 91.1%, according to the latest monthly report by ApartmentData.com, despite month-to-month and year-over-year declines in the number of apartments absorbed — 342 in June compared with 842 in May and 1,007 in June 2018. Last June’s high number may have been the exception, considering that June 2017 saw 182 units absorbed and a occupancy rate of 90%.

San Antonio Business Journal (July 18, 2019) - Read The Full Article

This Submarket Is The New Queen Of Apartment Development In Houston

Job and population growth are the main drivers of the apartment demand in Katy, ApartmentData.com President Bruce McClenny said. Employment expansion is supported by an increasing number of healthcare, energy and service jobs in Katy. Rising home values, high household income and a top-rated school district also make the submarket appealing. “It fits into the bigger Houston narrative,” McClenny said. “People are moving here in greater quantities. Houston is turning the corner of the economic slowdown in the oil downturn and is getting through [Hurricane] Harvey. Katy has always been a leader in the area and is continuing to do so.”

Houston Business Journal (July 11, 2019) - Read The Full Article

Apartments, retail slated for city of Magnolia’s first mixed-use project

As the Magnolia area and Montgomery County grow, the demand for housing grows too, Thude-Speckman said.
Latest census data shows 63,175 people lived in Magnolia ZIP codes 77354 and 77355 in 2017—a 10.12% increase since 2013, according to the U.S. Census Bureau.

“We will see more home development in Magnolia in the next few years, even more so than we’ve already seen,” said Lawrence Dean, the Houston regional director for Metrostudy. “That’s where the development has to go as the growth comes west of The Woodlands and north of Tomball, because what’s right there? It’s Magnolia.”

Houston Community Impact (July 8, 2019) - Read The Full Article