HOUSTON—It's been five weeks since Hurricane Harvey. Progress is being made, as evident from the stats from local research companies which provide an update and recap of the damage to commercial real estate properties in the area.
ApartmentData.com has been conducting one-on-one interviews with managers at 2,725 apartment properties in Greater Houston to obtain an accurate assessment of the number of units damaged by Harvey. As of September 22, the multifamily research company surveyed 2,610 or 95.8% of those 2,725 properties, GlobeSt.com learns.
The survey findings indicate that 210 properties reported damage to 14,852 units, about 2.4% of the supply of surveyed properties and 2.3% of the total supply of apartments. The overall average effective rent per month rose by $16 to $1,000 from $984 pre-Harvey.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
