As the owner of a large portfolio of apartments across the country, Ric Campo, Chairman of the Board and CEO of apartment REIT Camden, has good visibility into where residents are paying rent and where they aren't.
Campo, who is also Chairman of the Housing Stability Task Force in Houston, says Houston has the strongest collection rates in his portfolio, even though it's weaker than his other markets. The Camden portfolio was at 95.8% occupancy in September. At that time, Houston had the lowest occupancy of all of his markets at 93.9% after falling 200 basis points during the pandemic.
While Houston had the lowest occupancy, its delinquencies were only 0.19% in Camden's portfolio. In Texas, Austin was 0.7% and Dallas was 0.7%. In California, Los Angeles was 6.46% and San Diego was 4.4%.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
