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Houston Texas ~ The City of Houston
spreads over three counties: Harris, Fort Bend and Montgomery. The city is
the county seat of Harris County, located at the head of the Houston Ship
Channel, linking to the Gulf of Mexico.
The Katrina effect
Renters in Houston can thank Hurricane Katrina for boosting their rents.
Due in part to the influx of evacuees last fall, Houston’s apartment
occupancy rate jumped almost 5% to 94%, and rents climbed 3% to an average
of $692. Atlanta, Dallas, Birmingham Ala., and Nashville, Tenn. also
reported gains as relocations from Katrina began setting down roots. A
recent survey by the National Multi-Housing Council of large apartment
owners showed that 42% had seen "modest" improvement in leasing as these
new residents moved from hotels to apartments. While some of these new
apartment residents could return home in the next year, analysts believe
many will remain in their new homes.
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