Houston Commercial Real Estate Market Report
Houston is in an uneven recovery. Retail and industrial retain long-term demand drivers, office is beginning to recover from elevated vacancy, and multifamily remains pressured by supply and concessions.
Q2 2026 | Report source date: May 11, 2026
Houston market snapshot.
Houston is in an uneven recovery. Retail and industrial retain long-term demand drivers, office is beginning to recover from elevated vacancy, and multifamily remains pressured by supply and concessions.
Market metrics dashboard.
Animated market signals.
Vacancy comparison
19.5%
7.2%
5.3%
12.6%
Rent growth signal
0.6%
-0.1%
2.3%
-1.2%
1.6M SF absorbed | 2.1M SF delivered
15.9M SF absorbed | 22M SF delivered
1.4M SF absorbed | 2.7M SF delivered
226 units absorbed | 233 units delivered
Office, industrial, retail, and multifamily trends.
2.1M SF delivered, 1.6M SF absorbed, 19.5% vacancy, 0.6% rent growth.
CoStar reports Houston office is in early recovery, but elevated vacancy, smaller deal sizes, and constrained hiring continue to limit momentum.
22M SF delivered, 15.9M SF absorbed, 7.2% vacancy, -0.1% rent growth.
Industrial vacancy has risen as new supply outpaced demand, with a widening gap between older facilities and modern bulk space.
2.7M SF delivered, 1.4M SF absorbed, 5.3% vacancy, 2.3% rent growth.
Retail is regaining balance, helped by backfilling of large vacancies and demand for well-located space.
13,233 units delivered, 6,226 units absorbed, 12.6% vacancy, -1.2% asking rent growth.
Multifamily has not yet reached a supply-demand reset, with new deliveries still outpacing demand and concessions weighing on rent growth.
Notable trends.
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Data is sourced from CoStar market reports and other market sources provided to Bisono Realty Advisors Group. Information should be independently verified before making leasing, acquisition, disposition, financing, or investment decisions.