Houston Texas ( vacancy rate and hot real estate)

[Liz C.]

Hi everyone , I have some question regarding the Houston Texas before I jump into my first turnkey purchase. In the media shows it has 10% vacancy rate on Texas and in downtown area some reaches 40%. Those numbers are unusual high compare to New York City where I am familiar with. Now at same time the medias says Houston Texas are one of the hottest market right now to invest. How they are both so contradictory ? Can any local expert explains please? Thank you!

[Cody L.]

We have 100% occupancy with a wait list on some properties, and 70-80% on others.  Houston is made up of several different submarkets -- often very close to each other.

In midtown I have small studios that rent for $850 (full, with a wait), and about a mile away I have 1 bedrooms that we had to drop from $600 to $500 because no one wants to live there.