Understanding Ector County Appraisal Property Tax and Commercial Market Growth

Harris County Property Tax shifts as new construction reshapes commercial property values, impacting assessments and market trends across the region.

  • Only Pay If We Save
  • Maximum Tax Savings
  • Sign Up In 2 Minutes

New Construction Permits and Value Trends in Harris County

  • Multi-family apartments are driving the surge in new construction in Ector County tax, making up a significant 44.6% of new permits—showing the growing demand for residential units.
  • The total value of new construction has skyrocketed, reaching an impressive $5.8 billion in 2024, signaling a thriving commercial sector.
  • While apartments take the lead, construction value is spread across a variety of property types, reflecting the diverse and dynamic commercial real estate market in the county.

These trends reveal a strong demand for multi-family housing and a booming commercial construction market, as highlighted by Ector County Appraisal District data. The future of real estate here is looking bright!

Harris County Property Tax
Harris County Property Tax
Fold-2-new-Construction
Office - harris-county-property-tax

Developments in the Ector County Office Market

  • Deliveries surged to 1.07 million sq. ft., up from 830,789 sq. ft. last year, showcasing a strong demand for office space, according to Ector Appraisal District data.
  • By year-end, 721,503 sq. ft. was still under construction, down from a hefty 1.9 million sq. ft. the previous year, indicating a shift in the pace of development.
  • Over 300,000 sq. ft. was absorbed, and vacancy rates dropped slightly to 22.5%, down from 23.2% the year before.

As the office market adapts to the ongoing changes post-pandemic, these key metrics highlight significant shifts in new construction, space absorption, and vacancy rates—offering a glimpse into the dynamic future of the local commercial real estate market.

Overview of the Ector County Appraisal Apartment Market

  • 22,251 units were delivered, a significant increase from 15,780 units the previous year.
  • 10,805 units were absorbed, but occupancy dropped slightly to 89%, down from 90.6%.
  • Rental rates saw a modest increase of 0.6%, while the median sales price per unit decreased to $116,544, down from $135,097 in the previous quarter.

The apartment market ended 2023 on a positive note with strong absorption, reflecting growth in new construction and continued demand for units. Key metrics from the Ector Appraisal District show a mixed trend in rental rates and occupancy, highlighting the dynamic nature of the local apartment market.

Fold 4 - harris-county-property-tax
Fold 5 - harris-county-property-tax

Houston’s Retail Sector Insights

  • The retail market saw a shift, with 1.0 million sq. ft. delivered—down from 1.8 million sq. ft. last year.
  • Despite this slowdown, 1.5 million sq. ft. was absorbed, and vacancy rates dropped to 6.4%, down from 6.6%, according to Ector County Appraisal data.
  • Rental rates stayed steady at 4.4%, maintaining the same level as the previous year.

Even amid market uncertainties, retail sector has shown impressive resilience, with consistent absorption and stable rental rates. The data highlights a decrease in both new construction and absorption, signaling a shift in the local retail landscape, but a market that continues to adapt and thrive.

Warehouse Market in Ector County Appraisal

  • The warehouse sector saw impressive growth, delivering 31.6 million sq. ft., up from 24.2 million sq. ft. the previous year.
  • A strong 17.3 million sq. ft. was absorbed, though vacancy rates rose to 7.0%, up from 5.2% in the prior year.
  • Notably, 34.3% of the new space was pre-leased, and quoted rental rates surged by 11% year-over-year.

While signs of a slowdown emerged in 2023, with fewer spaces under construction and lower absorption, the warehouse sector continues to command higher quoted rates, reflecting the ongoing demand and resilience in the market.

sign up now
Fold 6 - harris-county-property-tax