RESEARCH
HOUSTON OFFICE MARKET 1ST QTR. 2022
- RSF
- Direct Vacancy
- 62,048,886
- Total Availability
- 65,971,352
- YTD
- 1,233,608
- Avg. Rent
- $28.90
The Houston office market ended the 1st Qtr. 2022 with a vacancy rate of 18.8%, compared to a vacancy rate of 25.0% in the previous quarter. Net absorption totaled positive 1,233,608 square feet in the 1st Qtr. Rental rates ended the quarter at $28.90, compared to $38.43 in the previous quarter. There was a total of 846,361 square feet delivered to the market and 3,821,785 square feet under construction in the 1st Qtr. 2021.
Source: CoStar
HOUSTON OFFICE MARKET 4TH QTR. 2021
- RSF
- Direct Vacancy
- 63,261,266
- Total Availability
- 67,038,637
- YTD
- 522,511
- Avg. Rent
- $29.03
The Houston office market ended the 4th Qtr. 2021 with a vacancy rate of 19.2%, compared to a vacancy rate of 18.9% in the previous quarter. Net absorption totaled negative 522,511 square feet in the 4th Qtr. Rental rates ended the quarter at $29.03, compared to $28.98 in the previous quarter. A total of 2,124,630 square feet was delivered to the market and there was 3,899,802 square feet under construction.
Source: CoStar
HOUSTON OFFICE MARKET 3RD QTR. 2021
- RSF
- Direct Vacancy
- 61,552,372
- Total Availability
- 65,131,855
- YTD
- 884,216
- Avg. Rent
- $28.98
The Houston office market ended the 3rd Qtr. 2021 with a vacancy rate of 18.9%, which did not change from the previous quarter. Net absorption totaled positive 884,216 square feet in the 3rd Qtr. Rental rates ended the quarter at $28.98, compared to $28.86 in the previous quarter. There was 922,415 square feet delivered to the market and 4,889,795 square feet under construction at the end of the 3rd Qtr. 2021.
Source: CoStar
HOUSTON OFFICE MARKET 2ND QTR. 2021
- RSF
- Direct Vacancy
- 61,368,454
- Total Availability
- 65,093,656
- YTD
- 249,984
- Avg. Rent
- $28.86
The Houston office market ended the 2nd Qtr. 2021 with a vacancy rate of 18.9%, compared to a vacancy rate of 18.7% in the previous quarter. Net absorption totaled positive 249,984 square feet in the 2nd Qtr. Rental rates ended the quarter at $28.86, compared to $28.98 in the previous quarter. There was 1,446,233 square feet delivered to the market and 5,294,914 square feet under construction at the end of the 2nd Qtr. 2021.
Source: CoStar
HOUSTON OFFICE MARKET 1ST QTR. 2021
- RSF
- Direct Vacancy
- 60,545,459
- Total Availability
- 63,901,920
- YTD
- (408,633)
- Avg. Rent
- $28.98
The Houston office market ended the 1st Qtr. 2021 with a vacancy rate of 18.7%, compared to a vacancy rate of 18.1% in the previous quarter. Net absorption totaled negative 408,633 square feet in the 1st Qtr. Rental rates ended the quarter at $28.98, a decrease from $29.57 in the previous quarter. There was 681,823 square feet delivered to the market 6,403,348 square feet under construction at the end of the 1st Qtr. 2021.
Source: CoStar