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Texas

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Market Overview

BACK TO INSIGHTS

EXPLORE 6 Texas MARKETSToggle markets

Austin
Dallas
El Paso
Fort Worth
Houston
San Antonio

Austin

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VACANCY

Apartment

Average Vacancy Rate 7.2%

Increased by 50 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2021 at 6.6%.

Distribution / Warehousing

Average Vacancy Rate 8.3%

Drifted downward by 40 basis points.
Lowest level since Q2 2017.
Expected to finish 2021 at 8.5%.

Flex / R&D

Average Vacancy Rate 10.9%

Drifted upward by 40 basis points.
Expected to finish 2021 at 10.5%.

Office

Average Vacancy Rate 17.5%

Has risen for six consecutive quarters.
Highest level since Q1 2012.
Expected to finish 2021 at 18.0%.

Retail

Average Vacancy Rate 8.7%

Lowest in the Southwest region, sixteenth lowest in the nation.
Drifted upward by 30 basis points.
Highest level since year-end 2009.

RENT

Apartment

Average Asking Rent $1,259

Down 0.6% from year-end 2020.
Expected to finish 2021 at $1,293.

Distribution / Warehousing

Average Asking Rent $7.81

Fastest rent growth in the Southwest region, twenty-first most rapid in the nation.
Fastest rate of increase in five quarters.
Expected to finish 2021 at $8.00.

Flex / R&D

Average Asking Rent $10.62

Fastest rent growth in the Southwest region, nineteenth most rapid in the nation.
Expected to finish 2021 at $10.72.

Office

Average Asking Rent $34.57

Down 0.3% from year-end 2020.
Expected to finish 2021 at $33.12.

Retail

Average Asking Rent $24.02

Down 0.1% from year-end 2020.
Expected to finish 2021 at $22.21.

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Learn more about the Texas markets from one of our professionals.

Dallas

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VACANCY

Apartment

Average Vacancy Rate 6.6%

Drifted upward by 20 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 6.1%.

Distribution / Warehousing

Average Vacancy Rate 12.7%

Drifted downward by 10 basis points.
Expected to finish 2021 at 12.2%.

Flex / R&D

Average Vacancy Rate 8.2%

No change since year-end 2020.
Among the 20 lowest vacancies nationally.
Expected to finish 2021 at 8.6%.

Office

Average Vacancy Rate 25.0%

Increased by 70 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2021 at 25.6%.

Retail

Average Vacancy Rate 12.9%

Drifted downward by 10 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 14.5%.

RENT

Apartment

Average Asking Rent $1,233

Down 0.2% from year-end 2020.
Expected to finish 2021 at $1,266.

Distribution / Warehousing

Average Asking Rent $4.96

Up 0.4% from year-end 2020.
Expected to finish 2021 at $5.11.

Flex / R&D

Average Asking Rent $7.71

Up 0.1% from year-end 2020.
Expected to finish 2021 at $7.73.

Office

Average Asking Rent $26.21

Down 0.4% from year-end 2020.
Expected to finish 2021 at $25.61.

Retail

Average Asking Rent $18.97

Up 0.1% from year-end 2020.
Expected to finish 2021 at $18.01.

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Learn more about the Texas markets from one of our professionals.

El Paso

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 8.4%

Lowest in the Southwest region, thirty-ninth lowest in the nation.
Fell by 110 basis points.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $4.31

Up 0.5% from year-end 2018.
Expected to finish 2019 at.

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Learn more about the Texas markets from one of our professionals.

Fort Worth

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VACANCY

Apartment

Average Vacancy Rate 4.8%

Lowest in the Southwest region, thirty-first lowest in the nation.
Drifted upward by 10 basis points.
Highest level since year-end 2015.

Distribution / Warehousing

Average Vacancy Rate 14.5%

Has risen for six consecutive quarters.
Among the 10 highest vacancies nationally.
Expected to finish 2021 at 13.5%.

Flex / R&D

Average Vacancy Rate 8.1%

Lowest in the Southwest region, tenth lowest in the nation.
No change since year-end 2020.
Expected to finish 2021 at 8.7%.

Office

Average Vacancy Rate 17.5%

No change since year-end 2020.
Expected to finish 2021 at 18.4%.

Retail

Average Vacancy Rate 12.2%

Has risen for six consecutive quarters.
Highest level since Q1 2014.
Expected to finish 2021 at 14.0%.

RENT

Apartment

Average Asking Rent $1,032

Flat since year-end 2020.
Expected to finish 2021 at $1,059.

Distribution / Warehousing

Average Asking Rent $4.70

Down 0.2% from year-end 2020.
Expected to finish 2021 at $4.83.

Flex / R&D

Average Asking Rent $7.52

Flat since year-end 2020.
Expected to finish 2021 at $7.52.

Office

Average Asking Rent $21.30

Flat since year-end 2020.
Expected to finish 2021 at $20.67.

Retail

Average Asking Rent $15.81

Down 0.1% from year-end 2020.
Expected to finish 2021 at $14.44.

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Learn more about the Texas markets from one of our professionals.

Houston

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VACANCY

Apartment

Average Vacancy Rate 6.2%

Drifted upward by 20 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 6.2%.

Distribution / Warehousing

Average Vacancy Rate 13.7%

Drifted downward by 20 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 13.3%.

Flex / R&D

Average Vacancy Rate 10.5%

Drifted downward by 20 basis points.
Expected to finish 2021 at 11.2%.

Office

Average Vacancy Rate 25.7%

Second highest in the nation. Only Dayton is currently softer.
Drifted upward by 40 basis points.
Highest level since Q3 1996.

Retail

Average Vacancy Rate 12.9%

No change since year-end 2020.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 14.5%.

RENT

Apartment

Average Asking Rent $1,086

Flat since year-end 2020.
Expected to finish 2021 at $1,112.

Distribution / Warehousing

Average Asking Rent $6.06

Down 0.2% from year-end 2020.
Expected to finish 2021 at $6.25.

Flex / R&D

Average Asking Rent $8.03

Up 0.1% from year-end 2020.
Expected to finish 2021 at $8.05.

Office

Average Asking Rent $28.48

Down 1.0% from year-end 2020.
Expected to finish 2021 at $27.45.

Retail

Average Asking Rent $19.40

Down 0.3% from year-end 2020.
Expected to finish 2021 at $18.53.

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Learn more about the Texas markets from one of our professionals.

San Antonio

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VACANCY

Apartment

Average Vacancy Rate 6.6%

Drifted upward by 10 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 6.2%.

Distribution / Warehousing

Average Vacancy Rate 12.9%

Drifted downward by 30 basis points.
Expected to finish 2021 at 12.3%.

Flex / R&D

Average Vacancy Rate 9.5%

Increased by 150 basis points.
Among the 20 lowest vacancies nationally.
Expected to finish 2021 at 9.0%.

Office

Average Vacancy Rate 17.9%

Rose by 70 basis points.
Highest level since year-end 2015.
Expected to finish 2021 at 18.3%.

Retail

Average Vacancy Rate 10.6%

Drifted upward by 10 basis points.
Highest level since Q3 2015.
Expected to finish 2021 at 11.8%.

RENT

Apartment

Average Asking Rent $989

Up 0.1% from year-end 2020.
Expected to finish 2021 at $1,011.

Distribution / Warehousing

Average Asking Rent $5.66

Up 0.4% from year-end 2020.
Expected to finish 2021 at $5.76.

Flex / R&D

Average Asking Rent $9.07

Up 0.2% from year-end 2020.
Expected to finish 2021 at $9.13.

Office

Average Asking Rent $22.44

Flat since year-end 2020.
Expected to finish 2021 at $22.24.

Retail

Average Asking Rent $16.96

Up 0.2% from year-end 2020.
Expected to finish 2021 at $16.00.

Learn more about the Texas markets from one of our professionals

Learn more about the Texas markets from one of our professionals.