RealPage: Up to 43K Apartments Offline in Metro Houston

With the floodwaters receding from Hurricane Harvey’s fury in early September, companies have been able to take stock of the real damage. On the multifamily side, up to 43,000 multifamily units were knocked offline due to flooding from the storm, according to RealPage. That total represents approximately 6% of the metro’s entire apartment market.

RealPage’s Chief Economist Greg Willett pointed out that flooding totaled more than 64 inches, according to the National Weather Service, with many Houston apartment properties either in, or near, 100-year flood plains.

Willett went on to note that areas hardest hit included those around the Barker and Addicks dams on Houston’s west side, as well as “moderate numbers . . . damaged across multiple neighborhoods on Houston’s north side.” Some properties in Houston’s CBD and Montrose/River Oaks submarket also were knocked offline, he added.

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