Market Snapshot | Houston Q2 2025

Market Overview

In Q2 2025, Houston’s multifamily market showed signs of stabilization. Average effective rent stood at $1,359 while occupancy reached 90.2 percent. Net absorption through the first half totaled 8,967 units—outpacing deliveries by over 34 percent—reflecting continued renter demand. The construction pipeline narrowed sharply, with only 12,100 units under way, marking the lowest level since 2017. Year-over-year rent trends were modest, with a slight decline of 0.3 percent.

About MMG

MMG Real Estate Advisors delivers multifamily market research and capital strategy insights across major U.S. metros. Their market reports synthesize rental, supply, and absorption data to guide investors, owners, and developers through market shifts.