built up

Houston area sees more new apartments than almost any other city

Houston will end this decade with 114,100 new apartments having been built in the last 10 years. Photo courtesy of Dolce Midtown Apartments

You might call this the Decade of the Renter in Houston. New data shows H-Town ranks third in the U.S. for most new apartments from 2010 through 2019.

In a housing review of the 2010s published December 16, apartment website RentCafé estimates Houston will end this decade with 114,100 new apartments having been built during the 10-year span.

Houston is eclipsed by only two markets: DFW, with an estimated 149,000 new apartments, and New York City, with an estimated 125,100 new apartments added during this decade. In the rankings, Houston is followed by Washington, D.C. (113,300) and Los Angeles (98,000).

Two other Texas metros made the top 20:

  • Austin, claiming the No. 8 spot with 75,400 new apartments.
  • San Antonio, grabbing the No. 13 spot with 47,700 new apartments.

All told, the four major metro areas in Texas have added 386,200 new apartments from 2010 through 2019, RentCafé data shows. At the same time, their populations have exploded.

From April 2010 to July 2018, the DFW metro area's population soared by more than 1.1 million, according to the U.S. Census Bureau. Houston nipped on DFW's heels from 2010 to 2018, adding almost 1.08 million residents, the Census Bureau says.

During the same period, comparatively rapid growth occurred in the Austin metro area (nearly 452,000 new residents) and San Antonio metro area (more than 375,000 new residents).

As Texas' major metro areas keep experiencing a population surge, the rise of the apartment renter promises to continue.

Data from Richardson-based property management software RealPage shows construction of 22,879 new apartments had been approved from October 2018 to October 2019 in the Houston area. That's a year-over-year jump of 77.8 percent.

The numbers for DFW (19,562 permits, up 7.3 percent) and Austin (13,981, up 15 percent) were lower, but they still ranked among RealPage's top 10 metro markets for the number of apartment construction permits issued.

Within U.S. metro areas, the cities of Houston, Austin, and San Antonio ranked among the top 10 places for apartment construction permits issued from October 2018 to October 2019, according to RealPage.

------

This article originally ran on CultureMap.

Trending News

Building Houston

 
 

The HTX TechList is officially launched, and the Houston Exponential team is calling for everyone to register on the site. Screenshot via htxtechlist.com

Houston Exponential has hit launch on the HTX TechList, and now startups, investors, entrepreneurial hubs, and corporations can officially opt into the data-focused and networking-enabled platform.

The HTX TechList went live yesterday, August 13, at a virtual event hosted by HX. (Note: InnovationMap was the media partner for the event.) The platform acts as a one-stop shop for Houston's innovation ecosystem. Mayor Sylvester Turner joined the stream to explain the role the platform will play in connecting the various players within the industry.

"The HTX TechList is our city's leading resource for in-depth information about Houston startups, investors, hubs, and corporations," Mayor Turner said at the event. "Within the Houston region, the HTX TechList will build the connections and density that were never before possible in such a huge spread-out city."

Another benefit to the new platform, as HX Chief of Staff Serafina Lalany says, is the data it is going to be able to provide about the ecosystem.

"We needed a centralized datasource classifying startups, investors, startup development organizations, and corporate innovators," she says on the Houston Innovators Podcast. "There was not any good resource on the internet that was verified, centralized, and adhered to a data standard."

The platform, which has derived from an initiative from Startup Nation Central in Israel, has already proven its usefulness abroad and has over 70,000 monthly users. In a panel at the event, Eran Levy of Enel Innovation Hub Israel described how the tool has benefitted him and his work in scouting startups.

"The ability to have a tool to map, in our case, 8,000 startups, when we look for specific categories or a specific tech area, it helps us a lot," he says. "It saves a lot of time and effort, and, more importantly, it makes it much more effective because I reach out to the right startups."

On the panel, Barbara Burger, president of Chevron Technology Ventures and chair of Houston Exponential, echoed the opportunity for connectivity the platform will enable — but in a specific way for her organization as an investor.

"I view the TechList as the tool that's going to enable a couple of things. One is the scouts to access even more opportunities, but I think the other piece is also for co-investors in startups to be able to find us," she says, adding that while CTV has been around for a couple decades, visibility is always something they'd like to improve on.

Now that the platform is launched, anyone can join to make a profile on the site. Startups, investors, hubs, and corporations can also launch profiles that will be vetted by HX's data team.

Trending News