• Houston reached a record-high average effective rent of $1.19 per square foot, buoyed by a wave of new properties leasing up and strong demand.
  • Annual rent growth rose 45 basis points (bps) from +1.90% in Q4 2019 to +2.35% across the metro.
  • Rent growth was strongest in Houston’s most expensive submarket, Downtown, rising +7.0% annually to a market-leading $2.20 per square foot.
  • Annually, Houston added 59,000 jobs, second to only Dallas/Fort Worth.