Houston Office Leasing Brokers Take a By-the-Numbers Look at the Local Economy
November 11, 14
Houston's economy is still booming, according to figures provided by the Greater Houston Partnership. Here is a by-the-numbers look:
Half a trillion: That's the U.S. Bureau of Economic Analysis' estimate of Houston's gross domestic product.
4th: Houston currently has the nation's fourth largest metropolitan economy, behind only New York, Los Angeles, and Chicago.
25th: If the nine-counties making up the greater Houston metropolitan area were a nation, they'd have the 25th largest economy in the world.
83.6 million: The dollar amount that Houston's gross domestic product has increased by since 2008.
33.8 percent: Houston's share of the GDP in the state of Texas.
$34.4 billion: The amount that Houston's exports have increased since 2010.
67.3 percent: The amount of Houston residents aged 16 and older who are participating in the labor force either through work or the active pursuit of work.
30.9 percent: The amount of Houston's 25 and older population who holds a bachelor's degree or higher.
17.3 million: The number of square feet of new office space currently under construction in the Houston metro area.
$26.10 per square foot: The current average asking rate on office space in Houston.
6.6 percent: The vacancy rate for area retail space.
$22.06 per square foot: The current average asking rate for
107,400: The number of jobs created in Houston in the twelve month period ending in August, 2014.
Triple: The number of jobs created in Houston since the recession have tripled the number lost during the recession.
Yes, it's true. The economy in Houston continues to thrive. If you have office space for lease here or you're looking for the perfect space for your business, the Houston office leasing brokers at LandPark Commercial can help. Our network is as extensive as our experience with the area's commercial real estate. For more information, contact us.