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Forget the Inner Loop

Houston Multifamily

You'd never guess this—Pasadena/Deer Park is leading the metro in multifamily rent bumps. Axiometrics' research team (pictured here) tells us the submarket posted 10.8% effective rent growth year-over-year in September while increasing occupancy to nearly 97%. That's double our overall rent trends (5.3% across town), and beating the pants off of urban core markets. Montrose/River Oaks has softened considerably (1.2% growth last month, down from 3.7% in September '13), largely thanks a flood of supply—nearly 14,000 units delivering from 2013 to 2015.