Houston, TX Multifamily Market Report | Colliers | Q1 2026

Market Overview

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Houston's multifamily market saw absorption slow in Q1 2026, with net absorption totaling 3,578 units, down from 4,275 in the prior quarter, though occupancy held flat at 90.4%. Class A properties led leasing demand at 3,246 units absorbed, while Class B recorded negative absorption of 759 units. The Northwest submarket remained the region's most active, leading in units delivered, absorbed, and under construction. Under-construction inventory totaled 13,755 units, up 24.5% year-over-year, though the pace of new development has slowed considerably following the elevated activity of recent years.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 60 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Houston multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.