Market Reports | Office & Industrial
Houston Office Market Report — Q3 2026
Houston’s office market is showing early signs of an inflection point in Q3 2026, as vacancy edges down from its peak and leasing activity recovers from last year’s lows.
Key Points:
- Vacancy fell to 19.6%, down from a peak of 20.1% in early 2025, as market-wide availability dropped to 70.4 million SF, a five-year low.
- Asking rents reached $30.50/SF, up 0.7% year over year, with trophy towers in corridors like CityCentre and Memorial City posting gains of 10–20% over the past 18–20 months.
- The construction pipeline hit a record low of 1.3 million SF, with more than 85% of that space already preleased, sharply limiting competitive pressure from new deliveries.
Get the full report to explore Houston’s evolving office market and identify where leasing and investment opportunities are emerging.
Houston Industrial Market Report — Q3 2026
Houston’s industrial market faces rising vacancy and negative rent growth in Q3 2026, as five consecutive quarters of supply outpacing demand shift leverage firmly toward tenants.
Key Points:
- Vacancy climbed to 7.4%, roughly 100 basis points above the 10-year average, with CoStar projecting an additional 60 basis points of increase before vacancy peaks in early 2027.
- Asking rents fell 1.6% year over year to $9.45/SF, the steepest decline since 2010, as landlords now commonly offer four to six months of free rent on five-year terms to secure occupancy.
- Houston’s construction pipeline of 28.8 million SF ranks second in the U.S. behind only Dallas–Fort Worth, with roughly 75% of that space still available for lease.
Read the expert insight on absorption trends, development activity, and what’s next for Houston’s industrial sector.
Get Your Custom Market Survey
Are you searching for commercial property in one or more of these Houston sub-markets?
Request a Customized Market Survey report delivered straight to your email.
Or call (713) 647-6400 to learn more today.
The office and industrial commercial real estate markets are dynamic and fast-paced. You need a real estate partner with in-depth knowledge and experience. Oxford Partners works tirelessly analyzing market trends, data on vacancies, sales activity, construction deliveries, rental rates, and more. If you are looking for market data on an office or industrial market not shown below, contact us and we’ll put one together for you.
Connect with an Advisor Today
Which Houston Submarkets Do We Cover?
The quarterly market reports prepared by the Oxford Partners research team cover both the commercial office and industrial sectors. While these reports are meant to provide a high-level overview of the commercial real estate market, we can also provide more detailed data and trends by sub-market. Below is a list of the major commercial sub-markets we can provide: