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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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Houston Q1 2024 Multifamily Market Lending Outlook!

May 06, 20242 min read

Houston Q1 2024 Multifamily Market Lending Outlook!

Houston’s multifamily market is experiencing dynamic shifts, evident from the latest data showcasing the city's fifth consecutive quarter of demand gains. In Q1 2024, more than 1,300 Class A units were occupied, marking the only positive leasing activity within the property market. However, overall market occupancy witnessed a slight dip, primarily driven by more move-outs than move-ins in Classes B-D.

One contributing factor to the occupancy rate decline is the influx of new property units surpassing net leasing gains. Despite a tapering rate of new construction, the overall construction pipeline remains substantial, albeit slightly reduced from previous figures.

The future outlook for Houston’s multifamily sector appears promising, thanks to two key factors: a gradual tightening of citywide new development and robust organic population and job growth. Recent data from the U.S. Census Bureau highlights Houston's significant numeric population growth, ranking second in the nation between 2022 and 2023. Moreover, the region continues to create new job opportunities, further bolstering its economic landscape.

Suburban markets have emerged as pivotal drivers of leasing activity, accounting for 90% of total leasing in Q1 2024. Notably, areas like Katy/Cinco Ranch/Waterside and Bear Creek/Copperfield/Fairfield experienced notable growth, with absorption surpassing 200 units over the previous quarter.

Despite these positive trends, certain submarkets witnessed negative leasing growth, primarily in Class C properties. This trend highlights the nuanced dynamics within Houston’s multifamily landscape.

Rental rates in Houston have shown resilience, with the average monthly rent increasing year-over-year. Notably, Houston was the only primary Texas market to witness positive rent gains in Q1 2024. However, the rental rate growth varied across submarkets, with some experiencing double-digit gains while others faced declines.

Investment activity in the multifamily sector remained active, with private sector investors leading net acquisitions during the quarter. Notable property trades, such as Venterra Realty’s acquisition of Cendana District West and Knightvest Capital’s acquisition of Barron Park, underscore the ongoing investor confidence in Houston’s real estate market.

In conclusion, Houston’s multifamily sector continues to navigate through evolving trends and challenges. With a promising outlook fueled by population growth, job creation, and strategic investment, the city remains an attractive destination for both residents and investors alike. As the market adapts to changing dynamics, stakeholders are poised to capitalize on emerging opportunities for growth and development.

Should you need an experienced Commercial Real Estate Mortgage Broker, please feel free to contact me at 281-222-0433.

https://medallionfunds.com/bill-rapp/

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© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory


Houston multifamily sectorClass A unitsleasing trendsconstruction pipelinepopulation growthjob growthsuburban marketsoccupancy ratesrental rate growthinvestment trendsproperty acquisitions
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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | Medallion Funds


Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141

Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

Copyright ©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141 https://medallionfunds.com/bill-rapp/