August 14, 2019
Ten-X Commercial recently released its latest U.S. Apartment Market Outlook, which included the top five “Buy” and “Sell” markets for multifamily assets. The two Texas cities making the top five “Buy” list were Houston, at No. 1, and Fort Worth, which came in No. 4.
Ten-X’s analysis of Houston pointed to a “resurgent energy sector” which is “turbocharging the local economy and buoying apartment rents.” Furthermore, the vacancy rate was 6.2% in Q1 2019, while effective rents jumped 6.1%, year over year.
Meanwhile, in Fort Worth, “low unemployment and solid job growth, with total employment up 3.1% year over year,” have helped support a 3.7% apartment vacancy rate. Similar to other “Buy” markets, “Fort Worth is expected to weather a modelled recession with resilience,” Ten-X analysts said.
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