Houston apartment rents soften as new supply hits market (HBJ)

Photo Courtesy of HBJ

Photo Courtesy of HBJ

By Paul Takahashi

Skyrocketing apartment rents have begun to soften as new supply hits the Houston market, according to a new report.

Annual effective rent growth — how much rents, minus concessions, are going up on an yearly basis — fell for the second consecutive month and is at its lowest level in more than a year, according to Axiometrics Inc., a Dallas-based multifamily research company.

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