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Apartment analysts discuss project delays, rents and renewals amid COVID-19

“If they haven’t broken ground, I’d expect a much longer delay. It just depends on where they’re at. If they’ve been permitted and financed, those will go forward. For developers, once you get so far, you can’t go back. You have to ride it out, but it’s really on a property-by-property basis,” said Bruce McClenny, president of ApartmentData.com.

Dallas Business Journal (April 9, 2020) - Read The Full Article

Apartment market still going strong but experts fear what’s ahead

ApartmentData.com, which surveys multifamily properties in 12 southern markets, is seeing a similar trend.

“So far in April, with 35% of the properties having been surveyed already, we are beginning to see the decline in rental rates,” said Cindi Reed, director of business development at ApartmentData.com.

Austin Business Journal (April 9, 2020) - Read The Full Article

Renters Paying Over a Third of Their Income

More American renters than ever spend over a third of their income on rent and utilities. Bruce McClenny of ApartmentData.com says Houston has had some interesting events that have caused rent rates to rise. “[Hurricane] Harvey had a big impact on rental. It spiked up when people need places to live while they were out of their houses due to flooding.”

KPRC (February 19, 2020) - Read The Full Article

DFW apartment market ends 2019 on solid ground

Despite apartment absorption falling short of December 2018 and 2017, 2019 ended on solid footing for the local market, which saw a slight rise in occupancy and rents along with positive absorption overall, according to ApartmentData.com.

Dallas Business Journal (January 13, 2020) - Read The Full Article

Rents for affordable Houston apartments set to rise.

But ApartmentData.com projects that Houston rents will rise as much as 4 percent in 2020, above the area’s 20-year average annual increase of 3.2 percent. It said rent increases for older, more affordable apartment buildings will likely account for the lion’s share of that growth.

Houston Chronicle (January 8, 2020) - Read The Full Article

32-story apartment tower to rise by Hermann Park

The project will add to the 2,702 residential units under construction in the Montrose/Museum/Midtown/Central Houston submarket, according to ApartmentData.com. Rental rates in the submarket are up 4.7 percent since last December, while occupancy has dropped by 1.7 percentage points to 87.6 percent as new buildings have come online, mostly in Midtown.

Houston Chronicle (December 23, 2019) - Read The Full Article