Houston is likely becoming a renter's market with new supply rapidly coming on board of luxury units and a far smaller rate of job and population growth from when the ground was broken on tens of thousands of projects.
Looking at a mid-year, the economists who predicted earlier this year that Houston's apartment market was overbuilt seem to be correct. The total occupancy in April was 90.1 percent, according to an analysis from the Greater Houston Partnership. The analysis says that conventional wisdom holds that renters hold the cards in a market with occupancy rate below 90 percent. The rate is expected to fall into the mid-80's.