I can’t seem to locate hard data.
I found one report from 2002 that said their study showed Houston to be #5 among all cities for low vacancy.
I then found a new piece from some channel, not in Texas, that said Houston and Phoenix were two places with really high vacancy rates.
So in past 3 years Houston has went from #5 of all cities to crap?
I then found a report from the paper that showed 53% of Houston residents rented (2nd only to Dallas at 58%).
If anyone knows, let me know.
ok, I wonder if the news story was talking about “multi family” in general.
I saw a report for 2004 that said multi-family vacancy rate in Houston was about 15%, which is among the worst.
So the question that begs to be answered is, what is the vacancy rate of SFH’s like? If Houstonians in general don’t care for multi-family units, then it might be plausible to assume this is why MF vacancy is 15% and perhaps SFH vacancies are less.
EDIT:
Wanted to add that according to Fannie Mae, rents in Houston have declined in 2002-2003 by about 2%. Overall, the entire USA declined by about 0.75% and this was 2 years ago so the market could be starting the recovery. Atlanta was one of the worst declines.
EVERGREEN are you talking to yourselves again!
where did you get that info is there a link?
These reports really need to qualify their terms.
Anyway, some of the info was from realfacts.com.
Looks like things there have stopped the downward trend and are poised for recovery.
And yes, I am talking to myself. I spend much of my day reading books, researching, and so forth. I am used to it 