Industries using the most office space in Houston
The busiest industries using office space in the Houston market were media, public relations, telecom, and entertainment. Office utilization in these sectors grew by 46.8% compared to the previous year, reaching 91.5% of its pre-pandemic level.
Tech, followed by banking, finance, and related industries, and aerospace, saw an average annual increase in use of office space by 32.5%. However, these industries have yet to reach or recover from their pre-COVID levels. They are returning to the office more slowly than other industries, likely due to job and company losses during the pandemic.
The hospitality and leisure industries have fully recovered, with office utilization growing 22.2% from its pre-pandemic level. Notably, these are the only top industries analyzed that saw a smaller increase in office utilization from a year ago compared to the other top industries analyzed.
September 6, 2024