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    <div id="breadcrumbs" class="breadcrumbs"><a href="/" class="">Home</a> &raquo; Houston's vacant apartments could house Hurricane Harvey victims</div>
    

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    <h1 class="headline">Houston's vacant apartments could house Hurricane Harvey victims</h1>

      <h2 class="sub-headline">City maintains high vacancy rates</h2>

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  <div class="date article-summary__post-date">August 31, 2017</div>
  <div class="author article-summary__author"><a href="/authors/367-kelsey-ramirez">Kelsey Ramírez</a></div>
  
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    <div class="tags">KEYWORDS <a href="/keywords/25086-flood-waters">Flood waters</a>   <a href="/keywords/547-houston">Houston</a>   <a href="/keywords/25008-hurricane-harvey">Hurricane Harvey</a>   <a href="/keywords/25085-vacant-appartments">Vacant appartments</a></div>

      <div class="image"><img alt="Hurricane Harvey photo 1" src="//www.housingwire.com/ext/resources/images/editorial/A-New-Big-Images/misc/natural-disaster/HurricaneHarveyPhoto1.jpg?1503951065" /></div>


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      <div class="body article-body"><p>Hurricane Harvey <a href="http://www.cnn.com/2017/08/31/us/harvey-texas-latest/index.html" target="_blank">swept through</a> South Texas this week, causing at least 39 deaths, destroying homes and creating billions of dollars <a href="https://www.housingwire.com/articles/41124-majority-of-hurricane-harvey-victims-uninsured-in-face-of-billions-in-damages" target="_blank">in damages</a>.</p>            <div class="advertisement " id=""><div class="advertisement" id="div-gpt-ad-inline"></div></div>


<p>Houston is the fourth most populous city in the country with about 6.5 million people living in the metro area, and many lost their home to the flood waters.</p>

<p>Officials estimate up to 40,000 homes could be destroyed, according to an <a href="http://www.businessinsider.com/hurricane-harvey-survivors-financial-toll-2017-8" target="_blank">article</a> by Tanza Loudenback for <strong>Business Insider</strong>.</p>

<p>Houston holds one of the lowest occupancy rates in the country at 92.9%, according to an <a href="http://www.multifamilyexecutive.com/news/large-number-of-vacant-apartments-will-help-houston-in-harvey-aftermath_o" target="_blank">article</a> be Brian Croce for <strong>Multifamily Executive</strong>. Due to this low rate and the large number of apartments, the area should be able to accommodate an influx of renters.</p>            <div class="advertisement ad-mobile-only" id=""><div class="advertisement" id="div-gpt-ad-rect-a-mobile"></div></div>


<p>The estimated 47,000 vacant units in the Houston area should be able to take in the displaced victims of the hurricane, according to the article.</p>

<p>However, the problem lies in the price point of the vacant apartments.</p>            <div class="advertisement ad-mobile-only" id=""><div class="advertisement" id="div-gpt-ad-rect-b-mobile"></div></div>


<p>From the <a href="http://www.multifamilyexecutive.com/news/large-number-of-vacant-apartments-will-help-houston-in-harvey-aftermath_o" target="_blank">article</a>:</p>

<blockquote>
<p><em>In a blog post, Willett wrote that Houston&rsquo;s biggest block of available existing rental housing &ldquo;lies within the urban core, with just over 2,200 vacant apartments found in the Downtown/Montrose/River Oaks submarket. These are comparatively expensive units, as monthly rent in the neighborhood averages $1,769.&rdquo;</em></p>            <div class="advertisement ad-mobile-only" id=""><div class="advertisement" id="div-gpt-ad-rect-c-mobile"></div></div>


<p><em>Most of the available units in the metro area are luxury apartments, he tells MFE, but there are still vacant units at all price points.</em></p>
</blockquote>

<p>The <strong>U.S. Department of Housing and Urban Development</strong> <a href="https://www.housingwire.com/articles/41110-hud-extends-disaster-relief-to-hurricane-harvey-victims" target="_blank">announced</a> it is extending disaster relief to Hurricane Harvey victims. Other mortgage industries also stepped up to the plate, <a href="https://www.housingwire.com/articles/41108-wells-fargo-and-jpmorgan-chase-each-donate-1-million-for-hurricane-harvey-relief-efforts" target="_blank">offering relief</a> to the Houston area.</p></div>


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