Q1 2021 Houston Retail Market Report

Houston’s vacancy rate increased marginally from 5.9% to 6.0% over the quarter as 263,800 SF of new product delivered. Construction activity remained steady between quarters and retail foot traffic picked up as COVID restrictions in the state of Texas eased. According to Emsi, a labor market data company, Houston’s MSA population grew by 500,885 over the last five years, now 7,172,693, and is projected to grow by 544,540 over the next five years. Total regional employment grew by 74,098 over the last five years, now at 3,350,731, and is projected to grown by 166,496 over the next five years. The top three industries in 20200 were restaurants and other eating places, education and hospitals, and general medical and surgical hospitals. Click to read more at www.coydavidson.com.