Houston Multifamily Market Report – March 2025

Market Overview

Heading into 2025, Houston’s multifamily market continued to grapple with elevated vacancy and supply-side pressures. Rents were effectively flat year-over-year, reflecting persistent competition from a large volume of new deliveries—totaling over 28,000 units in 2024 alone. While Class A properties face the steepest challenges, particularly in lease-up phases, more affordable segments have proven more stable. Vacancy rates hover near 9.5%, and with another 32,000 units under construction, the market is expected to remain competitive through mid-2025. However, long-term fundamentals such as job growth and population gains support a positive outlook beyond the current adjustment period.

About Yardi Matrix

Yardi Matrix is a leading provider of real estate data and intelligence, known for its in-depth property-level research across the multifamily, office, and industrial sectors. Their multifamily platform offers investors and operators detailed insight into rents, occupancy, construction trends, and ownership across over 160 U.S. markets. Reports like this one on Houston help contextualize local performance within national patterns, combining proprietary research with broader economic indicators. With real-time tracking and historical benchmarking, Yardi Matrix equips stakeholders with the tools to navigate complex investment decisions.

‍