Most apartment investors believe values declined between January 1 2020 and January 1 2021. Factors negatively affecting apartments include:
- Eviction freeze with some residents not paying for over one year
- Higher move-outs due to apartment dwellers buying homes
- Excess new construction leading to higher vacancy and higher free rent concessions.
- Ten million jobs lost.
- Global pandemic which disrupted travel and trade.
While apartment revenue has declined, operating expenses have increased for a variety of factors including responding to COVID.
Over 90% of apartments in Harris County incurred a higher property tax assessment for tax year 2021despite lower revenue and higher operating expenses. Four of 5,089 apartments had no change in value, 418 had a reduction in assessed value and 4,669 Harris County apartment complexes say the initial noticed value set by the Harris County Appraisal District increased. In other words, over 90% of Harris County apartment owners were tagged with a higher assessed value by Harris County Appraisal District despite the pandemic. Why?
The total value of apartments valued by Harris County Appraisal District was $47.4 billion in 2020 and increased to $50.9 billion in 2021. Fully 866 apartments had an assessment increase of $1 million or more in 2021.
Fifty-six apartments had an assessment increase of 100% or higher. A total of 116 had an assessment increase of 50 to 99.9%. Another 911 had an assessment increase by Harris County Appraisal District of 20 to 49.9% Yet another 1,219 apartments had an assessment increase of 10 to 19.9%, during a period when rents were falling and expenses were increasing.
The following 100 apartments had the largest absolute increase in assessed value in 2021 versus 2020:
| Property Address | Property City | Property Zip | 2020_Certified Market Value | 2021_Noticed Market Value | 2021 Increase in Assessed Value |
| 929 Westcott St 315 | Houston | 77007 | $23,644,322 | $98,053,527 | $74,409,205 |
| 2930 Kirby Dr 340 | Houston | 77098 | $93,610,453 | $155,542,806 | $61,932,353 |
| 3300 Main St 328 | Houston | 77002 | $67,663,720 | $121,001,444 | $53,337,724 |
| 1521 Austin St 270 | Houston | 77002 | $48,818,381 | $92,282,756 | $43,464,375 |
| 14700 Vintage Preserve Pky | Houston | 77070 | $10,956,281 | $45,765,222 | $34,808,941 |
| 10923 Boudreaux Rd | Spring | 77379 | $9,628,365 | $40,218,706 | $30,590,341 |
| 5048 Calhoun Rd | Houston | 77021 | $14,726,518 | $44,791,955 | $30,065,437 |
| 20510 Cypress Plaza Pkwy 360 | Cypress | 77433 | $11,839,147 | $41,528,821 | $29,689,674 |
| 2121 Edwards St 334 | Houston | 77007 | $4,323,608 | $32,332,864 | $28,009,256 |
| 12807 Telge Rd 303 | Cypress | 77429 | $8,125,415 | $34,576,229 | $26,450,814 |
| 6400 Washington Ave | Houston | 77007 | $12,474,476 | $38,668,305 | $26,193,829 |
| 3411 Yoakum Blvd 283 | Houston | 77006 | $66,324,814 | $90,752,916 | $24,428,102 |
| 7203 Boudreaux Rd 336 | Spring | 77379 | $16,123,972 | $37,947,387 | $21,823,415 |
| 2111 Austin St 216 | Houston | 77002 | $29,773,015 | $49,920,667 | $20,147,652 |
| 4209 Spring Stuebner Rd 350 | Spring | 77389 | $28,639,448 | $47,182,951 | $18,543,503 |
| 17900 Mound Rd 234 | Cypress | 77433 | $7,228,499 | $25,253,623 | $18,025,124 |
| 720 W 26Th St 281 | Houston | 77008 | $9,368,579 | $26,940,614 | $17,572,035 |
| 695 Pineloch Dr 712 | Webster | 77598 | $50,100,000 | $67,324,609 | $17,224,609 |
| 17417 W Lake Houston Pky | Humble | 77346 | $16,387,075 | $33,546,457 | $17,159,382 |
| 1215 Sawyer St | Houston | 77007 | $31,063,382 | $47,853,307 | $16,789,925 |
| 2717 Minimax St 342 | Houston | 77008 | $26,785,121 | $43,410,808 | $16,625,687 |
| 2600 Westridge St 264 | Houston | 77054 | $6,848,519 | $23,468,092 | $16,619,573 |
| 2611 Bens Branch Dr 518 | Humble | 77339 | $43,500,000 | $58,363,085 | $14,863,085 |
| 777 Preston St 463 | Houston | 77002 | $167,192,135 | $181,891,821 | $14,699,686 |
| 8701 Gustine Ln 465 | Houston | 77031 | $10,715,280 | $25,374,098 | $14,658,818 |
| 3300 Bay Area Blvd 350 | La Porte | 77571 | $14,998,871 | $29,301,355 | $14,302,484 |
| 2424 S Voss Rd | Houston | 77057 | $61,060,000 | $74,950,353 | $13,890,353 |
| 2500 Greenhouse Rd 288 | Houston | 77084 | $24,697,536 | $37,835,300 | $13,137,764 |
| 3900 Dacoma St 263 | Houston | 77092 | $17,273,576 | $30,182,955 | $12,909,379 |
| 3030 Summer St 375 | Houston | 77007 | $52,230,119 | $64,865,808 | $12,635,689 |
| 12212 E Tidwell Rd 264 | Houston | 77044 | $15,050,467 | $27,599,101 | $12,548,634 |
| 770 N Eldridge Pky 320 | Houston | 77079 | $46,550,000 | $59,075,765 | $12,525,765 |
| 10333 Clay Rd 357 | Houston | 77041 | $33,403,641 | $45,838,317 | $12,434,676 |
| 6425 Westheimer Rd 798 | Houston | 77057 | $44,024,172 | $55,858,902 | $11,834,730 |
| 1818 Fannin Speed Way 338 | Houston | 77045 | $23,500,036 | $35,279,792 | $11,779,756 |
| 1721 Greenhouse Rd 361 | Houston | 77084 | $43,171,799 | $54,542,456 | $11,370,657 |
| 24002 Colonial Pky 329 | Katy | 77493 | $29,340,892 | $40,522,212 | $11,181,320 |
| 2828 Hayes Rd 510 | Houston | 77082 | $54,500,000 | $65,327,507 | $10,827,507 |
| 2300 Repsdorph Rd 259 | Seabrook | 77586 | $25,825,166 | $35,862,300 | $10,037,134 |
| 23615 Western Centre Dr 330 | Katy | 77494 | $24,948,859 | $34,903,906 | $9,955,047 |
| 13555 Cullen Blvd 252 | Houston | 77048 | $11,116,612 | $20,965,243 | $9,848,631 |
| 19200 Space Center Blvd 388 | Houston | 77058 | $60,817,455 | $70,431,457 | $9,614,002 |
| 21919 Clay Rd 351 | Katy | 77449 | $30,107,955 | $39,566,789 | $9,458,834 |
| 150 Cobia Dr 329 | Katy | 77494 | $28,943,472 | $38,318,940 | $9,375,468 |
| 5310 Milwee St 170 | Houston | 77092 | $7,694,883 | $16,511,047 | $8,816,164 |
| 2200 N Sam Houston Pky E 270 | Houston | 77032 | $20,226,945 | $28,872,025 | $8,645,080 |
| 13333 West Rd 376 | Houston | 77041 | $40,200,000 | $48,827,621 | $8,627,621 |
| 777 S Mayde Creek Dr 379 | Houston | 77079 | $68,878,689 | $77,455,481 | $8,576,792 |
| 14928 Mueschke Rd 136 | Cypress | 77433 | $10,229,830 | $18,795,474 | $8,565,644 |
| 99 N Post Oak Ln 216 | Houston | 77024 | $49,651,000 | $58,136,682 | $8,485,682 |
| 26700 Kuykendahl Rd 292 | Spring | 77389 | $41,278,488 | $49,675,852 | $8,397,364 |
| 8990 Richmond Ave 228 | Houston | 77063 | $10,246,081 | $18,602,980 | $8,356,899 |
| 7510 Brompton St 793 | Houston | 77025 | $68,000,000 | $76,334,627 | $8,334,627 |
| 7575 Bissonnet St 397 | Houston | 77074 | $14,320,822 | $22,446,479 | $8,125,657 |
| 10110 Westview Dr 345 | Houston | 77043 | $3,801,072 | $11,829,819 | $8,028,747 |
| 9449 Briar Forest Dr 511 | Houston | 77063 | $25,903,840 | $33,787,348 | $7,883,508 |
| 160 Birdsall St 264 | Houston | 77007 | $25,037,445 | $32,833,731 | $7,796,286 |
| 2401 Repsdorph Rd 277 | Seabrook | 77586 | $22,040,750 | $29,733,029 | $7,692,279 |
| 3300 Towers Blvd 416 | Seabrook | 77586 | $64,640,015 | $72,303,713 | $7,663,698 |
| 8011 Augusta Pines Dr 246 | Spring | 77389 | $24,059,981 | $31,550,163 | $7,490,182 |
| 7777 Katy Fwy 402 | Houston | 77024 | $57,853,686 | $65,220,680 | $7,366,994 |
| 23010 Franz Rd 324 | Katy | 77449 | $25,871,476 | $33,181,147 | $7,309,671 |
| 9802 Forum Park Dr 708 | Houston | 77036 | $54,381,476 | $61,668,044 | $7,286,568 |
| 722 International Blvd 706 | Houston | 77024 | $75,904,239 | $83,148,653 | $7,244,414 |
| 11070 Katy Fwy 360 | Houston | 77043 | $66,357,879 | $73,525,100 | $7,167,221 |
| 4010 Linkwood Dr 476 | Houston | 77025 | $32,392,478 | $39,548,497 | $7,156,019 |
| 17630 Wayforest Dr 268 | Houston | 77060 | $5,814,000 | $12,945,506 | $7,131,506 |
| 11411 Green Plaza Dr 280 | Houston | 77038 | $6,718,175 | $13,827,686 | $7,109,511 |
| 99 W Cedar Bayou Lynchburg Rd 384 | Baytown | 77521 | $38,273,938 | $45,285,217 | $7,011,279 |
| 10070 Westpark Dr 324 | Houston | 77042 | $18,650,000 | $25,640,207 | $6,990,207 |
| 1001 Pinemont Dr 136 | Houston | 77018 | $8,853,248 | $15,839,673 | $6,986,425 |
| 610 Oxford St | Houston | 77007 | $1,758,020 | $8,673,090 | $6,915,070 |
| 3120 Smith St | Houston | 77006 | $55,046,420 | $61,940,625 | $6,894,205 |
| 11800 Grant Rd 530 | Cypress | 77429 | $51,135,420 | $57,967,000 | $6,831,580 |
| 1333 Eldridge Pky 352 | Houston | 77077 | $27,500,000 | $34,302,706 | $6,802,706 |
| 2929 Weslayan St 250 | Houston | 77027 | $122,666,012 | $129,467,969 | $6,801,957 |
| 21145 Spring Plaza Dr 340 | Spring | 77388 | $48,325,989 | $54,879,813 | $6,553,824 |
| 5500 Sampson St 180 | Houston | 77004 | $18,568,363 | $25,095,684 | $6,527,321 |
| 12635 E Tidwell Rd 120 | Houston | 77044 | $1,830,333 | $8,328,737 | $6,498,404 |
| 2630 Tanglewilde St 256 | Houston | 77063 | $34,412,466 | $40,883,133 | $6,470,667 |
| 1699 Romano Park Ln 288 | Houston | 77090 | $25,400,000 | $31,838,642 | $6,438,642 |
| 150 W Sam Houston Pky N 280 | Houston | 77024 | $56,703,839 | $63,072,000 | $6,368,161 |
| 7000 Westview Dr 334 | Houston | 77055 | $17,897,380 | $24,231,521 | $6,334,141 |
| 5050 Yale St 250 | Houston | 77022 | $15,366,000 | $21,687,804 | $6,321,804 |
| 17103 Clay Rd 161 | Houston | 77084 | $10,099,285 | $16,403,118 | $6,303,833 |
| 5830 S Lake Houston Pky 256 | Houston | 77049 | $11,382,727 | $17,634,871 | $6,252,144 |
| 14913 Richmond Ave 324 | Houston | 77082 | $24,311,702 | $30,528,446 | $6,216,744 |
| 12777 Ashford Point Dr 442 | Houston | 77082 | $23,213,524 | $29,429,909 | $6,216,385 |
| 3000 Greenridge Dr 396 | Houston | 77057 | $33,869,744 | $39,901,247 | $6,031,503 |
| 13710 Park Row Dr 342 | Houston | 77079 | $45,000,000 | $50,925,374 | $5,925,374 |
| 13328 Westheimer Rd 300 | Houston | 77077 | $38,500,000 | $44,407,734 | $5,907,734 |
| 15902 Galveston Rd | Webster | 77598 | $68,739,791 | $74,625,339 | $5,885,548 |
| 2828 Old Spanish Trl 299 | Houston | 77054 | $49,250,000 | $55,132,750 | $5,882,750 |
| 510 W 20Th St 309 | Houston | 77008 | $30,974,827 | $36,828,791 | $5,853,964 |
| 200 Katy Ft Bend Rd 212 | Katy | 77494 | $46,213,746 | $52,048,415 | $5,834,669 |
| 3003 Seagler Rd 230 | Houston | 77042 | $82,720,120 | $88,543,246 | $5,823,126 |
| 2702 W Bay Area Blvd 240 | Webster | 77598 | $15,111,052 | $20,907,985 | $5,796,933 |
| 1625 Main St 336 | Houston | 77002 | $67,746,048 | $73,491,802 | $5,745,754 |
| 14531 Ella Blvd 520 | Houston | 77014 | $21,870,430 | $27,537,582 | $5,667,152 |
| 6550 Hillcroft St 921 | Houston | 77074 | $41,812,501 | $47,444,270 | $5,631,769 |
