Houston Multifamily Market 3Q23

Market Overview

‍The Newmark Q3 2025 Houston multifamily report shows a metro where fundamentals are gradually realigning. Average rent stands at approximately $1,272 and occupancy at 90 %. New supply remains measurable, unit deliveries in the 8,000-unit range for the year, but the pipeline is beginning to thin, with under-construction units down to roughly 8,000. Rent growth remains muted, with the metro seeing declines of up to –3.5% in certain submarkets. Looking ahead, positive growth is forecasted for 2026 and beyond as supply wanes and demand steadies.

‍About Newmark

‍Newmark is a full-service commercial real-estate advisory and investment-services firm, with research capabilities that span national and metro-specific sectors. Their Houston multifamily market review blends market-level rent, occupancy, supply and pipeline data to support investors, developers and owners in evaluating timing, pricing dynamics and asset-class positioning. To read the full report, click here.