Houston Multifamily Market Report | Q4 2025

Market Overview

‍
Houston’s multifamily market closed Q4 2025 navigating the aftereffects of one of the largest supply waves in its history. Elevated deliveries over the past two years pushed vacancy higher and kept rent growth under pressure, as operators continued offering concessions to maintain occupancy. However, development activity has begun to slow, with fewer projects breaking ground and the construction pipeline gradually shrinking. As new supply decelerates and population growth in the Houston metro remains strong, the gap between deliveries and absorption is expected to narrow over the coming quarters. While rents remained relatively flat and vacancy stayed elevated through the end of the year, improving demand fundamentals point toward a gradual rebalancing of the market.

About Colliers

‍
Colliers is a global professional services and investment management company specializing in commercial real estate. With operations in more than 60 countries, the firm provides market-leading research and advisory services across property sectors. Their multifamily market reports combine proprietary data with on-the-ground market expertise to track rental trends, development pipelines, and investment activity.

To read the full report, click here.

‍