Houston apartment rents could climb 10% post-Harvey

|By:, SA News Editor

A combination of declining inventory and surging demand (from displaced families) could have Houston apartment rents spiking 10%, according to Reis.

The research outfit also sees office rents rising 5%-10%, but retail occupancy maybe declining as many business owners will be unable to return.

Source: Bloomberg

Among REITs with sizable NOI exposure to Houston: American Campus (NYSE:ACC), Camden Property (NYSE:CPT), Cousins Properties (NYSE:CUZ), CyrusOne (NASDAQ:CONE), Eastgroup (NYSE:EGP), Franklin Street (NYSEMKT:FSP), LTC Properties (NYSE:LTC), Mid-America Apartments (NYSE:MAA), National Retail Properties (NYSE:NNN), Parkway Properties (NYSE:PKY), Retail Properties of America (NYSE:RPAI).

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