Two is too Much in the Houston Apartment Market
One is enough. Two is too much. Three’s a crowd. Actually, if you’re talking about the apartment market, three is just not needed. CultureMap Houston reported August 1 that nobody wants three-bedroom apartments anymore and developers aren’t building them.
“Today, no one is doing three bedrooms,” says Houston apartment broker Ryan Epstein, senior vice president of the Multi-Housing Group at the CBRE Group real estate firm.
Ten years ago, developers would construct apartment complexes with 30 to 40 percent one-bedroom units, Epstein says. Today, 80 percent of the units in a typical newly built complex are one-bedroom units.
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