Market Research
Quarterly market reports for 21 US markets plus international deal-flow analysis, built from tracked inventory, 6,593 lease comparables, 1,660 sale comparables, 1,110 loans and 1,128 live activity records.
What the tracked set says right now
Year-over-year asking rent growth by market
Blended across asset classes
Show the ranking as data
| Market | Year-over-year asking rent growth by market |
|---|---|
| Northern New Jersey | +4.6% |
| Dallas-Fort Worth | +3.4% |
| Tyler-Longview | +3.4% |
| Laredo | +3.3% |
| Beaumont | +3.2% |
| Washington DC | +3.0% |
| San Antonio | +2.9% |
| Houston | +2.9% |
| Austin | +2.7% |
| El Paso | +2.7% |
| Richmond | +2.2% |
| College Station | +2.2% |
| Waco-Temple | +2.1% |
| New York City | +2.0% |
| Midland-Odessa | +1.9% |
| Abilene-San Angelo | +1.8% |
| Lubbock | +1.8% |
| Amarillo | +1.5% |
| Corpus Christi | +1.1% |
| Wichita Falls | +1.0% |
| Rio Grande Valley | +0.5% |
Cap rate against vacancy, by market
Each point is one market, blended across asset classes
Show the plot as data
| Market | Average asking cap rate (%) | Vacancy (%) |
|---|---|---|
| Laredo | 7.2% | 21% |
| Midland-Odessa | 7.1% | 9% |
| Lubbock | 7.0% | 18% |
| Amarillo | 7.0% | 23% |
| Beaumont | 6.8% | 17% |
| Corpus Christi | 6.8% | 11% |
| Dallas-Fort Worth | 6.7% | 20% |
| El Paso | 6.7% | 13% |
| Austin | 6.6% | 15% |
| College Station | 6.6% | 34% |
| San Antonio | 6.6% | 12% |
| New York City | 6.6% | 14% |
| Northern New Jersey | 6.6% | 17% |
| Rio Grande Valley | 6.6% | 18% |
| Waco-Temple | 6.5% | 15% |
| Tyler-Longview | 6.4% | 11% |
| Houston | 6.4% | 19% |
| Washington DC | 6.4% | 13% |
| Wichita Falls | 6.3% | 23% |
| Richmond | 6.3% | 14% |
| Abilene-San Angelo | 6.1% | 8% |
US market reports
| Market | Inventory SF | Buildings | Vacancy | Avg rent | Rent YoY | Cap rate | Sale comps |
|---|---|---|---|---|---|---|---|
| New York City | 82,937,400 | 190 | 14.4% | $45.49 | 2.0% | 6.60% | 296 |
| Dallas-Fort Worth | 52,673,000 | 150 | 19.8% | $24.74 | 3.4% | 6.70% | 244 |
| Austin | 35,795,100 | 110 | 15.2% | $26.85 | 2.7% | 6.64% | 171 |
| Washington DC | 35,458,500 | 130 | 13.3% | $27.89 | 3.0% | 6.36% | 192 |
| Houston | 33,855,300 | 130 | 19.2% | $24.32 | 2.9% | 6.45% | 190 |
| Richmond | 29,098,300 | 90 | 13.7% | $23.17 | 2.2% | 6.32% | 132 |
| San Antonio | 25,410,900 | 70 | 12.1% | $24.16 | 2.9% | 6.61% | 94 |
| Northern New Jersey | 21,752,700 | 55 | 17.3% | $25.55 | 4.6% | 6.57% | 88 |
| El Paso | 10,121,000 | 25 | 13.5% | $21.80 | 2.7% | 6.70% | 39 |
| Beaumont | 5,670,300 | 10 | 17.4% | $15.45 | 3.2% | 6.85% | 22 |
| Laredo | 5,134,600 | 12 | 20.8% | $15.83 | 3.3% | 7.19% | 15 |
| Midland-Odessa | 4,654,900 | 18 | 9.4% | $24.76 | 1.9% | 7.15% | 23 |
| Corpus Christi | 3,861,100 | 15 | 11.5% | $18.83 | 1.1% | 6.84% | 29 |
| Waco-Temple | 3,606,100 | 14 | 15.1% | $20.03 | 2.1% | 6.47% | 20 |
| Rio Grande Valley | 3,501,200 | 20 | 18.4% | $24.12 | 0.5% | 6.56% | 21 |
| Lubbock | 3,257,900 | 12 | 17.8% | $23.34 | 1.8% | 7.05% | 21 |
| Tyler-Longview | 3,079,900 | 12 | 10.6% | $20.90 | 3.4% | 6.45% | 15 |
| Amarillo | 2,815,000 | 10 | 23.3% | $21.71 | 1.5% | 7.02% | 14 |
| Abilene-San Angelo | 2,445,000 | 8 | 7.9% | $25.50 | 1.8% | 6.06% | 12 |
| College Station | 1,971,400 | 8 | 34.5% | $23.29 | 2.2% | 6.63% | 11 |
| Wichita Falls | 884,200 | 6 | 23.2% | $23.72 | 1.0% | 6.32% | 11 |
Methodology
Fundamentals are computed from the tracked inventory for each market and re-cut on every build. Sale and lease comparables are the tracked transaction set for assets in that market; loan records derive from recorded mortgages and tracked lender reporting. Nothing on these pages is a projection except the quarters explicitly labelled forecast in the series.
Two cautions worth carrying into any read. Asking rent is a quote — concessions move first and are not in the face rate, so a flat rent series can sit on top of a falling net effective rent. And cap rates here are asking, computed from listed sale inventory; closed trades sit in each market's sale comparable table, which is the better evidence when the two disagree.
International deal flow
Reference
Frequently asked questions
What is in a market report?
Fundamentals by property type — inventory, vacancy, asking rent, year-over-year growth, cap rate and price per square foot — then recent sale comparables with buyer and seller, then the debt and rollover exposure: how many loans mature inside the window, how much they total, and how much leased area expires alongside them.
Which markets are growing fastest right now?
Northern New Jersey (4.6%), Dallas-Fort Worth (3.4%), Tyler-Longview (3.4%), Laredo (3.3%), Beaumont (3.2%). Weakest: Corpus Christi (1.1%), Wichita Falls (1.0%), Rio Grande Valley (0.5%).
How large is the refinancing wall?
386 tracked loans totalling $17.21B mature before January 2029, against a tracked book of 1,110 loans and $48.24B. Separately, 3,934 leases covering 68,423,680 SF expire before 2028 — where the two land on the same asset is where the risk compounds. How to read that.
How wide is the cap-rate spread across markets?
1.12 percentage points, from 6.06% in Abilene-San Angelo to 7.19% in Laredo. Read it against the ten-year bond rather than in isolation — why.
How often are reports updated?
Every report is regenerated on each build from the current dataset; the build date appears in the methodology note at the foot of each one. There is no stale-quarter lag.
Can I get the underlying data?
Yes — through the MCP server, or by exporting any view from RealStar. There is no export paywall.