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LIVE BRIEF Aug 1, 2026

Industrial · Texas

Texas industrial market tightens unevenly as rents diverge by metro

Texas industrial vacancy is generally easing, led by Dallas-Fort Worth at **8.3%** vacancy in Q2 2026 and a statewide average vacancy of **8.6%**, while Austin remains the softest major market at **19.4%**. Rents are still rising in Dallas-Fort Worth and Houston but are under pressure in Austin; cap rates are generally in the **mid-5% to low-7%** range across core Texas industrial assets, with compression strongest in infill and logistics product.

Dallas-Fort Worth: Vacancy fell to 8.3%; rent growth intact
Houston: Vacancy near 7.2%-7.3%; steady demand
Austin: Vacancy 19.4%; rents down 2.8% YoY
San Antonio: Tighter small-bay demand; rents broadly flat

5 sources

U.S. CRE Price Index

-7.01

+133.14% QoQ

Baa – 10Y Credit Spread

1.64%

+4 bps

10Y Treasury Yield

4.68%

-34.2% YoY CRE

30Y Mortgage Rate

6.66%

+8 bps WoW

Coverage Universe

Three sectors. One consistent framework.

Retail, office, and industrial — scored on the same eight fundamentals: supply, demand, rent, vacancy, cap rate, spread, liquidity, and credit. Market-level trends and detailed individual property assessments, side by side.

Indicative cap-rate bands · 10Y UST + sector risk premium

01Retail
6.68% – 8.18%
02Office
7.68% – 9.68%
03Industrial
6.18% – 7.43%