Feasibility Study Company Independent Feasibility Analysis

Texas · Houston

Houston Feasibility Studies

Houston gained 126,720 residents in the year to July 2025, more than any other U.S. metro 1, and 44,700 payroll jobs in the year to August 2026 5. Very little of that growth lands evenly. Hotels averaged 58.9% occupancy in 2025 16, the two broadest apartment counts put mid-2026 vacancy at 11.1% to 11.9% 1011, and with no city zoning the site risk sits in drainage, floodplain and deed restrictions. A Houston study has to show what share of the growth reaches the subject's own trade area, and that the parcel can actually be built.

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126,720
Residents added, July 2024 to July 2025, No. 1 among U.S. metros 1
+44,700
Payroll gain over the 12 months to August 2026, preliminary 5
58.9%
Hotel occupancy, calendar 2025 16
13,066
Apartment units under construction, Q2 2026 10
Growth

The fastest-growing U.S. metro by headcount, mostly outside city limits.

No U.S. metro gained more residents than Houston in the year to July 2025: 126,720, by the Census Bureau's Vintage 2025 count 1. The research did not retrieve the 2025 MSA total, so the base on this page is the prior vintage: 7,796,182 people on July 1, 2024, which is 9.0% above the 2020 base of 7,150,233 2. A secondary report puts the 2025 total slightly above 7.9 million 4; a study should swap that for the Census table before it sizes a trade area. Inside the city limits the year's gain was 11,515, for 2,397,315 residents 3. Most of the metro's growth therefore landed in unincorporated county land and suburban cities, where a different government approves the site.

Payroll data are firmer ground. BLS counts 44,700 more nonfarm jobs in August 2026 than in August 2025, 3,495.3 thousand against 3,450.6 thousand, a rise of 1.3% 5. The reading is preliminary and unadjusted for season, and it is the one 12-month change among the large Texas metros that the agency flags as statistically significant. That makes it better evidence than a headline population count. It still describes the whole metro, so the study has to connect the subject to the job centers its customers or tenants can actually reach.

Permits point north. HBWeekly's tracking universe counted 35,520 residential permits for the Houston area in 2025, down 10%, with Harris County at about 16,000 and Montgomery County at about 10,720 9. Those are not Census Building Permits Survey counts, and the Census total for 2025 is not in the research, so the two should not be combined into a growth rate. What the split does show is that Montgomery County, home to The Woodlands, Conroe and Magnolia, takes a large share of new rooftops. Retail, childcare and storage projects that live on new households need permit and plat counts drawn from their own trade area, as our note on trade areas explains.

For a lender the working question is share. A convenience store, a childcare center or a storage facility in a fast-growing Montgomery County subdivision competes for the same new households as every operator that read the same permit counts. The study should count rooftops and approved plats inside the subject's drive time, list the competitors already open or permitted there, and state what share of the new households the subject needs to cover its debt. When that share runs above the subject's share of existing supply, the study has to say why the subject wins it.

MeasureValueDateSource
MSA numeric population change+126,720 (largest gain of any U.S. metro)Year to July 1, 20251
MSA population7,796,182July 1, 20242
MSA population, 2020 base; growth to 20247,150,233; +9.0%2020 to 20242
MSA population, secondary estimateSlightly above 7.9 million (exact Census total not retrieved)July 1, 20254
City of Houston population2,397,315 (+11,515)July 1, 20253
Nonfarm employment3,450.6k to 3,495.3k (+44,700, +1.3%)August 2025 to August 2026 (preliminary)5
Residential permits, HBWeekly universe35,520 (-10%)20259
Harris County / Montgomery County permits, HBWeekly universeAbout 16,000 / about 10,72020259
Economic Base

Hospitals, freight and government carry the payroll.

Houston's image is oil and gas, but its largest payrolls belong to hospitals, a retailer's logistics network and local government. On Harris County's 2025 list, Memorial Hermann ranks first with 31,425 employees, Amazon third with 24,000, the City of Houston fourth with 22,170 and Houston Methodist fifth with 22,015 6. UT Health adds 16,150, putting three Texas Medical Center systems among the county's ten largest employers 6. The second name on that list is illegible in the copy the research extracted, so we leave it out rather than guess. The University of Houston reported 6,986 employees on the 2024 list 7.

For a lender, the hospital cluster is the steadiest demand source in the metro. It fills medical office suites, sends patients' families to hotels near the Medical Center and the suburban campuses, and supports workforce rentals within commuting range. The research records Memorial Hermann expansion in Cypress, Pearland and Lake Houston, but without budgets or opening dates 8. A study that leans on one of those campuses must document the project itself: permit, budget, opening date, beds and staff.

Energy and the port are the evidence gap. The research holds no current headcount for Port Houston, the Ship Channel industries or the energy sector, and no Houston project over $50 million with a confirmed 2025 or 2026 budget. Where a subject's demand depends on that economy (an east-side hotel that books plant crews, a truck service near the Ship Channel, a warehouse leased to an oilfield supplier), the study must source the segment directly, from BLS industry employment for the metro and Port Houston's own statistics, and then run the pro forma with that segment cut back. We do not estimate a number we cannot cite.

Federal accounts measure the household side of that payroll. The 2020 to 2024 American Community Survey put the market's median household income at $82,168 54, and the Bureau of Economic Analysis measured personal income of $76,916 per resident in 2024 55, both measured across the whole metro.

Employer or anchorEmployeesYearSource
Memorial Hermann (rank 1)31,42520256
Amazon (rank 3)24,00020256
City of Houston (rank 4)22,17020256
Houston Methodist (rank 5)22,01520256
UT Health16,15020256
University of Houston6,98620247
Port Houston, Ship Channel and energy employersNo figure in the researchGapGap
Supply by Asset Class

A shrinking apartment pipeline, a hotel trough and thin data elsewhere.

Apartments: fewer cranes, rents still soft

The Greater Houston Partnership reports 88.1% occupancy in Q2 2026, which is 11.9% vacancy, with average asking rent of $1,368 against $1,380 a year earlier, 13,066 units under construction and 4,719 delivered in the quarter 10. Cushman & Wakefield's stabilized series reads 11.1% vacancy, $1,312 effective rent and 11,756 units under construction, 36.4% fewer than a year earlier 11. Northmarq publishes 7.1% for a different property universe 12. Houston delivered 25,000 apartments in 2024 13, and RealPage forecasts slight rent declines over the four quarters from Q2 2026 14. Build-to-rent adds about 3,000 units under construction metro-wide, 1,200 of them in Spring and Tomball 15.

The read for a lender: a project that delivers after today's pipeline clears should face fewer competing lease-ups than 2025 projects did, but there is no pricing power yet. That is a different problem from Dallas-Fort Worth, where the open question is how much is still being built rather than where rents go. In Houston the apartment work begins with effective rent in the subject's own submarket (our note on effective rent versus asking rent explains the gap) and with a plain statement of which of the three vacancy universes the study relies on. Our multifamily feasibility page sets out the absorption test.

Hotels: 2025 was the trough

Full-year 2025 occupancy fell 8.6% to 58.9%, the steepest decline among the top 25 U.S. markets 16. December 2025 ran at 50% occupancy, a $108 average daily rate and $54 RevPAR 17. By March 2026 RevPAR had climbed to $98.93, up 11.9%, at 69.9% occupancy 18. One strong month after a weak year is not a stabilized year. A hotel study should build from trailing twelve-month data for the subject's competitive set (see reading the STR report) and test break-even occupancy against the 2025 numbers (see the break-even occupancy trap). Hotel pipeline and opening data were not found. Our hotel feasibility page covers the method.

Industrial, retail, medical, senior housing and storage

CBRE names Houston as one of three U.S. leaders for industrial absorption over January to June 2026 20, and Cushman & Wakefield puts the industrial pipeline at 23.0 million square feet 19; industrial vacancy itself was not found. Retail is tighter but softening: Cushman & Wakefield reports 5.8% vacancy with 161 projects and 3.8 million square feet under construction 21, while Matthews reports 5.5% vacancy and net absorption of minus 478,000 square feet in the same quarter 22. Medical office vacancy was 11.7% in H1 2026 23. The metro had 275 urgent care centers 24, and HCA's CareNow took over 8 more in August 2026 25, which matters to any independent clinic study. Senior housing sold for $157,518 per unit over 1Q to 3Q 2025 26, and occupancy of 84.7% in 1Q 2025 was among the lowest of the major markets 27, so an assisted living study must show demand the existing stock is not already absorbing. Data center vacancy was 19.7% in H1 2025, with 15 MW of new capacity scheduled 28.

RV and boat storage is the one storage class with metro data: 178 properties on 1,252.52 acres in Yardi Matrix's count, 13 of them new in three years, advertising $5.60 per square foot 29. A Katy and Richmond portfolio of 705 units was 94% occupied when it sold in early 2026 30, and a single Conroe facility registered 319,181 square feet of storage buildings with an estimated cost of $1,470,000 31. A new RV and boat storage project near Lake Conroe or the west side must count those competitors by name. Self-storage per capita, office and convenience-store counts were not found; a study needs its own competitor census, as on our self-storage page.

The hotel trough sits on a large existing stock: County Business Patterns counted 1,223 hotel and motel establishments in the market in 2023 56, each a property a new hotel's fair-share model has to place. On the apartment side the five-year survey's median gross rent was $1,430 a month 54.

ClassMeasureValueDateSource
MultifamilyOccupancy; asking rent (year earlier)88.1%; $1,368 ($1,380)Q2 202610
MultifamilyUnder construction; delivered in quarter13,066; 4,719 unitsQ2 202610
MultifamilyStabilized vacancy; effective rent; under construction11.1%; $1,312; 11,756 (-36.4% y/y)Q2 202611
MultifamilyVacancy, different universe7.1%Q2 202612
MultifamilyDeliveries25,000202413
Build-to-rentUnder construction, metro; Spring and Tomball3,000; 1,200 unitsEarly May 202615
HotelOccupancy (change)58.9% (-8.6%)202516
HotelOccupancy / ADR / RevPAR50% / $108 / $54December 202517
HotelRevPAR (change); occupancy$98.93 (+11.9%); 69.9%March 202618
IndustrialPipeline23.0 msfQ2 202619
RetailVacancy; projects and space under construction5.8%; 161 projects, 3.8 msfQ2 202621
RetailVacancy; net absorption (second source)5.5%; -478,000 sq ftQ2 202622
Medical officeVacancy11.7%H1 202623
Urgent careCenters, Houston metro275September 202624
Senior housingPrice per unit; occupancy$157,518; 84.7%1Q to 3Q 2025; 1Q 20252627
Data centersVacancy; new capacity scheduled19.7%; 15 MWH1 202528
RV and boat storageProperties; acres; advertised rent178; 1,252.52; $5.60 per sq ftSeptember 202529
Self-storage, office, convenience stores, RV parksHouston supply countsNo figure in the researchGapGap
Local Rules

No zoning, but a full engineering rulebook.

The city and its ETJ

The City of Houston has no zoning. Its Planning Commission must approve plats that meet Chapter 42 and cannot disapprove one because of objections to the use 32. In the extraterritorial jurisdiction the city reviews plats only; development there is outside the city's permitting and building inspection 33, and Harris County issues site, building, driveway and fire-code permits. Use is therefore rarely the approval risk. Private deed restrictions are, which is why a feasibility study consultant in Houston starts with the title commitment and confirms that its restrictions allow the use.

What remains is engineering that decides how much of a parcel can be built. Chapter 42 sets a 25-foot building line along major thoroughfares 34. A preliminary plat can take up to 30 business days per submittal 35. Harris County takes its detention rate from a design manual the research could not date, so the study should get the current rate from the county engineer. The county fire code, effective January 1, 2025, was amended again from October 1, 2025 37, and Montgomery County moved to the 2024 International Fire Code on May 14, 2025 36. On a small frontage pad, those rules set the footprint and the slab elevation, so the site budget should come from a civil engineer's layout, not a per-acre allowance.

The suburban counties

Waller County on the I-10 corridor has no zoning and controls projects through its development regulations: a policy of zero net increase in stormwater runoff with a 0.55 acre-feet per acre detention minimum, a design rainfall of 16.00 inches for the Katy area, and buildings in the 100-year floodplain raised at least 2 feet above the 500-year elevation 38. Montgomery County's drainage manual, adopted August 26, 2025, also requires zero increase in peak flow 39, and the county asks for buildings within 100 feet of a flood zone to sit at least 2 feet above base flood elevation 40. Conroe has no zoning ordinance 41. In Magnolia, the city paused building permits in December 2022 over water-well capacity 47; no 2025 or 2026 moratorium was found, but the episode is why a study needs a written capacity letter from the city or municipal utility district that serves the site.

Parking, fuel stations, hotels and short-term rentals

Unlike Austin, Houston still sets parking minimums. Sec. 26-492, in its 2014 printing of the 2013 ordinance, requires 4.0 spaces per 1,000 square feet of general retail, 10.0 per 1,000 for a sit-down restaurant, 1.0 per room for a hotel up to 250 rooms and 1.333 per one-bedroom apartment 42. Later amendments were not verified, so the table must be confirmed with the city before a site plan is fixed. A 2026 council request sought to stop new gas stations near homes for 90 days 43; a fuel study should check whether anything was adopted. The Texas Comptroller uses Houston as its example of a 17% combined hotel tax 45, a rate the Texas Municipal League's 2018 guide places among the highest of any major U.S. metro 44. Houston's short-term rental ordinance, No. 2025-322, took effect January 1, 2026 46; its terms were not captured, so an STR-dependent project must read it directly.

Taxes, fees and capacity

The only Houston property tax figure in the research is a 2.337% effective rate on a $1 million commercial property, from 2010-era data 48, which is too old to underwrite. The study must pull current rates for every taxing unit on the parcel, including any municipal utility district, because MUD taxes can add a line the city rate does not show. No Houston-area city's impact fees or utility capacity turned up in the research; the fee estimate and will-serve letter that replace them are listed with the other written conditions on our Texas page.

Corridors and Access

I-10, US 290 and the Grand Parkway: where the exurbs meet the freeways.

Houston's suburban growth runs out along its radial freeways and the outer ring that joins them: I-10 west through Katy toward Brookshire, US 290 northwest through Cypress, I-45 north to The Woodlands and Conroe, and SH 99, the Grand Parkway, linking those exurbs on a wide loop. These are the corridors where travel centers, fuel and convenience stores, express car washes, storage and limited-service hotels compete for the same frontage, and where most Houston site work happens.

The research ties no traffic count to any Houston corridor, so the count method on our Texas page applies in full. Two local features change how a count should be read. Much of the Grand Parkway is tolled, so a mainlane station there includes drivers who cannot reach a frontage corner without leaving the toll road. And because most of the metro's growth sits in unincorporated county land, the nearest station may be miles from the subject on a different road; the study should say how far, and why that count still describes the site.

Access approval comes before traffic. On a state frontage road, TxDOT's Houston District driveway application asks the applicant to show every driveway within 501 feet on either side and every signal within 1,000 feet 52. That spacing review can cut a frontage parcel to one driveway, so a study should model the site plan the district is likely to approve, not the one in the broker's flyer. See our truck stop and travel center and gas station and c-store pages for how access drives volume.

Lenders

Who makes SBA loans in Houston.

GoSBA Loans, a ranking site that works from SBA data and is not an SBA publication, counts $388.1 million of 7(a) lending to 613 businesses in the city of Houston in calendar 2025 49. By dollars its leaders are Texas Capital Bank, with $20.0 million on 12 loans, then Frost Bank and Comerica at $16.0 million each, on 13 and 21 loans; Zions made more loans than anyone, 59. That split is worth a sponsor's attention: the dollar leaders write fewer, larger loans and the count leader many small ones, so the right bank depends on the size of the request and the bank's appetite for the asset class.

The SBA Houston District lent $983 million in fiscal 2025, a total that probably covers only three quarters, and ranked second among the six Texas districts 50. Its 32 counties stretch from Harris, Fort Bend and Montgomery to Galveston, Brazoria, Jefferson and Brazos 51, so it reaches Beaumont and Bryan-College Station. No official fiscal 2025 lender ranking for the district turned up, and no certified development company is named as active in Houston; a 504 sponsor should ask the CDC for its own production record. The SBA 7(a) and 504 practice page covers what an SBA lender asks a study to prove. Apartment and hotel loans above SBA size go to banks, debt funds and agencies (see conventional and institutional lending), whose own vacancy and occupancy assumptions will be tested against the series on this page.

USDA's Business and Industry guarantee is out of reach in Houston, Pasadena, Sugar Land and the other large suburbs. It comes into play at the metro's rural edge, at sites like the Chambers County exit in the case below, and the parcel test that decides it is set out on our Texas page.

GoSBA's city counts can be checked against SBA's own loan file, which codes each loan to its project's county. For the market's counties it holds 11,051 7(a) loans worth $7,460.6 million approved in fiscal years 2016 to 2025, net of cancellations, and $32.2 million of 504 lending to self-storage projects in the same decade 53.

Lender or channelFigurePeriodSource
Texas Capital Bank, 7(a), city of Houston$20.0 million; 12 loansCalendar 202549
Frost Bank$16.0 million; 13 loansCalendar 202549
Comerica$16.0 million; 21 loansCalendar 202549
Zions (count leader)59 loansCalendar 202549
City total, 7(a)$388.1 million; 613 businessesCalendar 202549
SBA Houston District$983 million (No. 2 of the six Texas districts)FY2025, probably three quarters50
District coverage32 countiesCurrent51
Worked Cases

A worked case on Houston's I-10 east edge.

Houston's worked case sits east of the metro, at an I-10 exit in Hankamer, Chambers County, where the market is the highway rather than the town. The Hankamer travel center case sizes a fuel, food and truck-parking program from interstate through-traffic with no published station count at the exit, shows an unzoned county approving the use by permit rather than at a hearing, and carries a USDA Business and Industry guarantee through equity and study scope. Sites on US 290 or the Grand Parkway beyond the last subdivisions raise the same three questions.

Before Closing

Houston items a lender should confirm.

  1. The trade area's share

    Rooftops, plats and open or permitted competitors inside the subject's drive time, and the share of new households the pro forma needs.

  2. The vacancy universe

    Which apartment series the study uses (partnership, broker stabilized or a narrower set) and why it fits the subject's class and submarket.

  3. Hotel performance on a full year

    Trailing twelve-month data for the competitive set, with break-even tested against 2025, not against March 2026.

  4. Energy and port exposure

    Where demand depends on plant, port or oilfield activity, sourced sector employment and a downside case with that demand reduced.

  5. Deed restrictions

    A title review confirming the use is allowed, since zoning will not answer the question.

  6. Drainage and floodplain

    The FEMA panel, the county floodplain rule that applies, detention volume and the finished-floor elevation priced into the site budget.

  7. Utility capacity

    A will-serve letter from the city or municipal utility district, and a check for any permit pause.

  8. Driveways the district will permit

    The frontage layout under the Houston District's spacing review, and on the Grand Parkway a count that reflects the toll lanes.

  9. Current local rules

    The parking table, any gas station limits and the short-term rental ordinance as they stand when the loan closes.

Houston Questions

What lenders ask before a Houston loan goes to committee.

Why does a Houston study start from the drive time rather than the metro total?

Because the metro total hides where the people went. The City of Houston added 11,515 residents in the year to July 2025, reaching 2,397,315 3, a small slice of the metro's gain, while HBWeekly's 2025 tracking put about 10,720 of the area's 35,520 residential permits in Montgomery County alone 9. Two sites twenty miles apart can sit in markets growing at very different speeds. The credit file needs the employers, permits and plats within reach of the subject, the vacancy series the study chose, and coverage tested with that local demand cut back.

Does Houston's lack of zoning make a feasibility study easier?

It removes most use-approval risk and none of the site risk. The Planning Commission cannot turn down a plat because neighbors object to the use 32, but Chapter 42 still imposes a 25-foot building line on major thoroughfares 34, a preliminary plat review may run 30 business days per submittal 35, and county drainage rules, such as Waller County's 0.55 acre-feet of detention per acre 38, decide how much of the parcel the pond takes. Private deed restrictions can bar a use outright, and zoning will never answer that question. The study prices those constraints and reads the restrictions off the title commitment.

Which apartment vacancy figure should a Houston market study use?

Name the universe and pick the one that fits the subject. Three series disagree for Q2 2026: the Greater Houston Partnership's 88.1% occupancy implies 11.9% vacancy 10, Cushman & Wakefield's stabilized series read 11.1% 11, and Northmarq reported 7.1% for a narrower property set 12. A lease-up study should test absorption against the broadest count, since a new building competes with everything still leasing, and show the narrower series beside it. Rent is the second check: asking rent slipped to $1,368 from $1,380 a year earlier 10, so the pro forma should carry no rent growth until the 13,066 units under construction have cleared 10.

Has the Houston hotel market recovered from 2025?

It is rebounding, not recovered. Calendar 2025 occupancy came in at 58.9%, down 8.6%, the worst slide of any top-25 U.S. market 16, and December 2025 managed 50% occupancy, $108 in average rate and $54 of RevPAR 17. RevPAR had recovered to $98.93 by March 2026, 11.9% higher, with occupancy at 69.9% 18. One strong spring month does not make a stabilized year. A hotel study should underwrite on trailing twelve-month figures for the subject's competitive set, test break-even occupancy against the 2025 trough, and say plainly that the research found no pipeline or opening data for new Houston rooms.

Which banks make the most SBA 7(a) loans in Houston?

By dollar volume in calendar 2025, Texas Capital Bank, with $20.0 million across 12 loans, then Frost Bank ($16.0 million, 13 loans) and Comerica ($16.0 million, 21 loans); Zions wrote the most loans, 59 49. The ranking is a ranking site's tabulation of SBA data for the city, where 7(a) lending reached $388.1 million to 613 businesses 49, not an SBA publication; the SBA's own fiscal 2025 table was not located. A few large-ticket lenders and one high-count lender tell a sponsor to match the bank to the loan size. The Houston District's 32 counties run from Harris to Brazos and Jefferson 51, so district totals reach past the metro.

What decides whether a Houston frontage parcel works?

Access first, then capture. The Houston District's commercial driveway application asks for every existing driveway within 501 feet and every signal within 1,000 feet to be drawn 52, and that spacing review can leave a parcel with one entrance. Capture comes next: where the Grand Parkway is tolled, its mainlane traffic cannot reach a frontage corner without leaving the toll road, so a mainlane count says little about the lot. Only then does volume matter, and the research holds no Houston count, so the study pulls and reports its own as our Texas page describes.

What hotel occupancy tax does a Houston hotel collect?

17% inside the city, by the Texas Comptroller's worked example: 6% state, 7% city and two 2% venue levies 45. The Texas Municipal League's 2018 guide lists the same 17 percent and ranks it among the highest combined big-city rates in the country 44. Room revenue belongs net of that stack, and a site outside the city limits needs its own confirmation, because the city and venue pieces change at the boundary. The short-term rental ordinance, No. 2025-322, has applied in Houston since January 1, 2026 46; the research did not capture its terms, which an STR plan has to read before the pro forma is final.

Financing a Houston project? We begin with the trade area and the site plan.

We test the subject's own submarket, its competitive set and the engineering that decides what can be built, and we date every source. Send us the address, the building program and the bank.

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Sources

Data sources and dates.

Each figure below is cited to a named, dated source. Where Houston's published series disagree, the page shows each one and the universe it covers.

Market data reviewed by Mark Otava · Updated

  1. U.S. Census Bureau, Vintage 2025 population estimates for metro areas and counties (press release), March 26, 2026 (change July 2024 to July 2025).
  2. U.S. Census Bureau, Vintage 2024 population estimates for counties, metro and micro areas (press release), 2025 (population as of July 1, 2024).
  3. U.S. Census Bureau, Vintage 2025 population estimates for cities and towns (press release), May 14, 2026 (population as of July 1, 2025).
  4. InnovationMap (citing Census data), Houston metro population growth, 2025, page undated; accessed October 2026 (July 1, 2025 estimate).
  5. U.S. Bureau of Labor Statistics, Over-the-year change in nonfarm employment, large metropolitan areas, September 30, 2026 (August 2026 preliminary).
  6. Harris County Office of Economic Development, Largest Harris County Employers 2025, 2025.
  7. Harris County Office of Economic Development, Largest Harris County Employers 2024, 2024.
  8. CB Insights, Memorial Hermann Health System profile, 2025 to 2026.
  9. HBWeekly, Texas New Residential Construction Review, 2025, February 4, 2026.
  10. Greater Houston Partnership, Monthly Update: Multifamily, August 5, 2026 (Q2 2026 data).
  11. Cushman & Wakefield, MarketBeat Houston Multifamily, Q2 2026.
  12. Northmarq, Houston multifamily vacancies trend lower midyear, Q2 2026, August 19, 2026.
  13. RealPage, RealPage Forecast Update for 2025, 2025 (calendar 2024 deliveries).
  14. RealPage, Apartment Market Forecast, 2nd Quarter 2026, July 2026.
  15. RealPage, Build-to-rent units under construction, 1Q 2026, May 20, 2026.
  16. Hotel Dive (citing CoStar), Hotel occupancy and RevPAR declines, 2025, January 2026 (calendar 2025 data).
  17. Houston First Corporation, Hotel Occupancy Finished 2025 at 59%, 2026 (December 2025 data).
  18. Greater Houston Partnership, Quarterly Update: Hotel Market, 2026 (March 2026 data).
  19. Cushman & Wakefield, MarketBeat Houston Industrial, Q2 2026.
  20. CBRE, Q2 2026 U.S. Industrial & Logistics Market Report, July 29, 2026.
  21. Cushman & Wakefield, MarketBeat Houston Retail, Q2 2026.
  22. Matthews, Houston, TX Retail Market Report, Q2 2026, Q2 2026.
  23. Coy Davidson, Houston medical office market: vacancy, rents and investment trends, H1 2026.
  24. Definitive Healthcare, How many urgent care centers are in each U.S. state?, September 2026.
  25. Healthcare Finance News, HCA acquires 40 Texas urgent care centers, August 4, 2026.
  26. NIC MAP, NIC MAP releases top markets for senior housing transactions of 2025, December 11, 2025.
  27. McKnight's Senior Living (citing NIC MAP), Senior living demand hits all-time high: NIC, 2025 (1Q 2025 data).
  28. CBRE, North America Data Center Trends H1 2025: market profiles, September 8, 2025.
  29. Yardi Matrix, National RV and Boat Storage Report, Fall 2025, data as of October 9, 2025.
  30. AltsWire, Go Store It acquires boat and RV storage portfolio through joint venture, February 2026.
  31. Texas Department of Licensing and Regulation, TABS2024016817, RV and boat storage, Kidd Road, Conroe, registered April 23, 2024.
  32. City of Houston Planning Commission, Agenda, September 19, 2024, September 19, 2024.
  33. City of Houston Planning and Development, Development Regulations FAQ, current as of October 2026.
  34. City of Houston, Code of Ordinances Sec. 42-152, building line on major thoroughfares, current code, accessed October 10, 2026.
  35. Houston Permitting Center, Preliminary subdivision plat (PDD1026), accessed October 10, 2026.
  36. Montgomery County, Adopted 2024 International Fire Code, effective May 14, 2025.
  37. Harris County Fire Marshal's Office, Harris County Fire Code amendments, effective October 1, 2025 (code effective January 1, 2025).
  38. Waller County, Subdivision and Development Regulations, effective March 15, 2021, amended December 6, 2023.
  39. Montgomery County, Drainage Criteria Manual, adopted August 26, 2025.
  40. Montgomery County, Environmental Health permitting FAQ, accessed October 10, 2026.
  41. City of Conroe, Land use and area plans, current as of October 2026.
  42. City of Houston, Off-street parking requirements, Code Sec. 26-492 (Ord. 2013-208), March 6, 2013 (printed September 19, 2014).
  43. Houston Chronicle, Does Houston have too many gas stations?, 2026.
  44. Texas Municipal League and Texas Hotel & Lodging Association, What Cities Need to Know to Administer Municipal Hotel Occupancy Taxes (abridged version), revised 2018.
  45. Texas Comptroller of Public Accounts, Hotel Occupancy Tax FAQs, current as of October 2026.
  46. Texas Municipal League, Legislative Update No. 16, April 25, 2025.
  47. Houston Chronicle (via PressReader), Magnolia prolongs pause on building permits, December 25, 2022.
  48. Lincoln Institute of Land Policy and Minnesota Taxpayers Association, 50-State Property Tax Comparison Study, April 2011 (2010-era data).
  49. GoSBA Loans (from SBA data), Houston SBA lenders ranking, page undated; accessed October 2026 (calendar 2025 data).
  50. El Paso Inc. (citing the SBA FY2025 Regional Report), El Paso receives lowest SBA loan allocation among six Texas districts, 2025 (fiscal 2025, likely through the third quarter).
  51. U.S. Small Business Administration, Houston District Office, current as of October 2026.
  52. Texas Department of Transportation, Houston District, Form HOU-1058, commercial driveway permit application, accessed October 10, 2026.
  53. U.S. Small Business Administration, Office of Capital Access, 7(a) and 504 FOIA loan-level data, loan status as of June 30, 2026 (approval fiscal years 2016 to 2025); retrieved October 16, 2026.
  54. U.S. Census Bureau, American Community Survey 5-Year Estimates, Detailed Tables (Census Data API), 2020 to 2024 five-year estimates; retrieved October 16, 2026.
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