Houston booms with new apartment construction in 2020, report says

STANDING APART

Houston comes in at No. 7 on a new list of most apartments completed during the first six months of 2020. Photo courtesy of Caydon

The coronavirus pandemic has brought many activities to a unsettling halt. But it has failed to blunt Houston's apartment construction boom.

New data from Yardi Matrix, a supplier of commercial real estate data and research, shows that Houston comes in at No. 7 for most apartments completed during the first six months of 2020, with 2,085 apartments built.

Houston also comes in third place for projected apartment completions in 2020 is the Houston metro area. Yardi Matrix foresees the Bayou City region welcoming 10,404 new apartments this year, up 2 percent from 2019.

Little surprise to those paying attention to Texas real estate: More apartments were completed in Austin during the first six months of 2020 than in any other U.S. city. In the first half of the year, construction of 3,827 apartments was finished within the city of Austin, according to Yardi Matrix.

Right behind Austin on that list is San Antonio, where 2,871 new apartments hit the market in the first half of this year. Dallas follows Houston at No. 8 with 1,869 units; behind Big D is Farmers Branch, No. 18 with 1,161 units.

"Around the U.S., we have seen a variety of states, counties, and cities choose to close nonessential businesses for 'stay at home' or 'shelter in place' orders. For the most part, construction activity has been included as an essential activity that can continue with business as usual during these orders," Doug Ressler, manager of business intelligence at Yardi Matrix, says in a release.

"The popular Texas metropolitan area saw an increase of 62,000 residents from 2018 to 2019," Yardi Matrix says. "In response to the high demand, Austin metro has been an active scene for new construction in the past five years, having completed over 50,000 new apartments since 2016."

In the Yardi Matrix forecast, Dallas-Fort Worth eclipses all other U.S. metro areas for the number of new apartments predicted to be finished this year — 19,318. This would be DFW's third year in a row to lead all metro areas for annual apartment construction, with New York City claiming second place.

While that's an impressive amount of apartments, this year's anticipated final total for DFW would be down 29 percent versus last year, Yardi Matrix says.

Coming in at No. 19 for predicted apartment completions this year is the San Antonio area, with 4,595 new units on taps. However, that total would represent a 20 percent jump over last year, putting San Antonio in fourth place for the percentage increase from 2019 to 2020.

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This article originally ran on CultureMap.

Dolce Midtown Apartments is one of the many new apartment options in the Houston area. Photo courtesy of Dolce Midtown Apartments

Houston booms among nation's top 10 markets for new apartments

They come, we build

It's not all in your head. Those new apartments you spotted on your way to work probably did just pop up — and it's happening in big numbers in Houston and around the state, according to a new study.

RentCafe estimates 7,143 new apartments will be built in the Houston metro by the end of 2019 — the 10th highest projection nationally. Nearly half of those new units will rise within the city of Houston proper.

And these aren't vanity projects. With more than 90,000 new residents calling the Houston area home, we need all the apartments we can get.

Houston leads the region in terms of projected new apartment units at 3,163, followed by Conroe's 724 expected units and The Woodlands' 678.

Most of Texas is booming, too. No. 1 on RentCafe's list is Dallas-Fort Worth, with 22,196 new units expected by the end of the year. No. 5 Austin is expected to bring 10,783 new units to the region. Meanwhile, 3,510 new units will be built in San Antonio, a steep decline of 41 percent from the 5,993 units built there in 2018.

Nationally, Seattle makes for a distant second behind DFW with 13,682 new units expected, followed by New York City, which was No. 1 in 2018, with 13,418 units planned for this year.

Unlike the Lone Star State, the nation as a whole is seeing a slump in apartment construction. The 299,442 new apartments expected in 2019 represent an 8.2 percent drop from 2018's 326,240 new units, which also were weaker numbers than in 2017, when 331,765 new apartments were built.

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This article originally ran on CultureMap.

The Houston apartment market is rising. Photo courtesy of Vantage Med Center

Why investors are targeting Houston's multifamily housing market

Show me the money

As local developers, renters, and anyone trying to navigate all the new construction knows, Houston is in the midst of an apartment boom. A recent national report suggests that boom may not slow anytime soon, as it lists Houston as a top buy for apartment investors — and an area that will see rising rents in the foreseeable future.

Ten-X Commercial, an online platform for commercial real estate transactions, identified two Texas cities (Houston and Fort Worth) that commercial investors should target in its annual U.S. Apartment Market Outlook. Only three other American cities are considered strong buys for apartment investors: Raleigh-Durham, North Carolina; Charlotte, North Carolina; and Salt Lake City. The data in the report is generated from the more than $20 billion worth of transactions handled by Ten-X Commercial.

In analyzing Houston and Fort Worth, Ten-X Commercial finds that both offer strong net operating income benefits — a key driver in commercial real estate — to investors for years to come. Houston's apartment rents are buoyed by a "resurgent energy sector" that is "turbocharging the local economy" and jumped 6.1 percent year over year. The report also forecasts that Houston is "likely to prove considerably more resilient during a modeled downturn than other markets."

According to the report, here's a quick breakdown of the numbers for the Houston multifamily market:

  • Q1 2018 rent: $987
  • 2021 projected rent: $1,184
  • Q1 2018 vacancy: 6.2 percent
  • 2021 projected vacancy: 4.4 percent

With every top buy report comes a warning to sell. Cities where investors should consider unloading are New York; Miami; San Francisco; Oakland, California; and San Jose, California. These markets are witnessing rising vacancies and flattening rents.

But how much is too much growth? Nationally, according to the research, multifamily completions should reach an all-time peak in 2018 as more than 300,000 new units flood the market, outpacing even the highest absorption levels in recent history. As a result, vacancies are expected to drift above 5 percent by the end of the year for the first time since 2011.

Ten-X Chief Economist Peter Muoio noted in the report that "while millennials and other demographic groups continue to forego homeownership in favor of renting in walkable neighborhoods, developers appear to have gotten ahead of themselves in creating rental supply."

Muoio added that the pipeline "can reasonably be described as a flood and though demand for these units is likely to come in the years ahead, we can expect to see some significant digestion issues in the near term."

Until that happens, Houston renters would be wise to lock in their lease rates, as it's clear that our apartment market is anything but flat.

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This story originally appeared on CultureMap.

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Kinder leads 19 Houstonians on Forbes' World's Billionaires List 2026

World's Richest 2026

According to Forbes, there has “never been a better time to be a billionaire” than in 2026, and the publication's newest World’s Billionaires List has revealed the 19 Houston billionaires that have risen among the wealthiest worldwide.

Kinder Morgan chairman Richard Kinder surpassed hospitality honcho Tilman Fertitta as the richest billionaire in Houston, ranking No. 232 on the global list with an estimated net worth of $13 billion. His net worth has grown by $2.4 billion since last year.

Fertitta, 68, may not be the richest Houstonian anymore, but his wealth is still on the rise. He ranked 268th on the list with an estimated net worth of $11.7 billion, up from $11.3 billion last year.

Out of the 390 billionaire newbies that made their debut onto the list this year, one of them calls Houston home: restaurateur and commodities trader Ignacio Torras. Torras, 61, is the founder and CEO of global commodities trading company Tricon Energy, and he owns Michelin-starred local restaurant BCN Taste & Tradition and its sister eatery MAD. But that's not all he spends his time doing, according to Forbes.

"In 2024 Torras launched a soccer tournament for neurodivergent players called the Genuine Cup," his profile said. "Last year 800 players and 30 teams from around the world played at Rice University stadium."

Torras debuted as No. 2600 on the list with an estimated net worth of $1.5 billion.

Houston-born multi-hyphenate superstar Beyoncé Knowles-Carter also staked a claim among the world's richest people in 2026. She ranked No. 3332 on the list with a net worth of $1 billion, thanks to her "years of music sales, touring and collecting art with her already-billionaire husband Jay-Z (estimated net worth: $2.8 billion)," Forbes said.

"The majority of pop star Beyonce’s net worth comes from her roughly three decades as a solo performer and a member of the girl-group Destiny's Child," her profile said. "She holds the record for the most Grammy wins ever, with 35, and won her first Album of the Year trophy in 2025. She and her billionaire husband Jay-Z purchased a $200 million Malibu mansion in 2023, in what was the most expensive home sale in California history."

Beyoncé also ranks No. 21 in the publication's separate list of The World's Celebrity Billionaires.

Here's how the rest of Houston's billionaires fared on this year's list:

  • Toyota mega-dealer Dan Friedkin: No. 279; $11.4 billion, up from $7.7 billion
  • Pipeline heir Randa Duncan Williams: tied for No. 323 with an estimated net worth of $10.2 billion, up from $9.3 billion in 2025. Fellow pipeline heirs Dannine Avara and Milane Frantz tied for No. 332 globally. Each has an estimated net worth of $10.1 billion, up from $9.2 billion. Scott Duncan ranks No. 353 with a $9.8 billion estimated net worth, up from $9 billion in 2025.
  • Oil tycoon Jeffery Hildebrand: No. 341; $10 billion, up from $7.7 billion
  • Houston Texans owner Janice McNair and family: No. 528; $7.3 billion, up from $6.2 billion
  • Energy exploration chief exec George Bishop of The Woodlands: No. 908; $4.7 billion, down from $5 billion
  • Westlake Corporation co-owners Albert Chao, James Chao and their families: tied for No. 1074; $4 billion, flat from 2025
  • Hedge fund honcho John Arnold: No. 1504; $2.8 billion, down from $2.9 billion
  • Perry Homes executive chair Kathy Britton: No. 1611; $2.6 billion, flat from 2025
  • Houston Astros owner Jim Crane: No. 1676; $2.5 billion, up from $2.4 billion
  • Former Houston Rockets owner Leslie Alexander: No. 1834; $2.3 billion, up from $1.9 billion
  • Mercedes-Benz mega-dealer Joe Agresti: No. 3185; $1.1 billion, flat from 2025
  • Frontier Airlines chairman William Franke: No. 3332; $1 billion, down from $1.2 billion

Elsewhere in Texas

Austin billionaire Elon Musk was declared the world's richest person for the second consecutive year, and Forbes said his “grip on the top spot is as strong as it’s ever been.”

“Musk became the first person to hit $500 billion in wealth, in October,” Forbes said. “Then $600 billion and $700 billion, within four days in December. Then $800 billion, in February.”

The Tesla, SpaceX, and xAI founder’s current net worth has skyrocketed to $839 billion — a shocking $497 billion more than his 2025 net worth.

In Dallas-Fort Worth, Walmart heiress Alice Walton has maintained her elite status as the world’s richest woman for the third year in a row. Walton is the 14th richest person on the planet with a current net worth of $134 billion, an eye-catching $33 billion higher than her 2025 net worth. She is the first American woman worth $100 billion, and one of only 20 “centi-billionaires” worldwide claiming 12-figure fortunes, also known as the "$100 Billion Club."

Koch Inc. stakeholder Elaine Marshall and her family are the richest Dallas residents, ranking No. 71 globally with an estimated net worth of $30.9 billion. Her net worth has grown by $2.6 billion since last year.

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This article originally appeared on CultureMap.com.

Where founders go to grow: the rise of peer-driven scale support

Inside EO

Entrepreneurship can be exhilarating — but it can also be isolating. Founders often carry the weight of leadership, strategy, hiring decisions, and financial risk without many people who truly understand the pressure. Increasingly, business owners are turning to peer-driven communities for support, insight, and accountability.

One of the most prominent of these communities is the Entrepreneurs’ Organization (EO), a global network of more than 19,000 influential business owners across 86 countries. Built on the belief that entrepreneurs grow best when they learn from one another, EO creates a space where founders can openly share challenges, test ideas, and gain perspective from peers who have faced similar decisions.

A 360-Degree Approach to Growth
Unlike traditional business groups that focus solely on revenue and scale, EO emphasizes holistic development. The organization encourages members to pursue what it calls “360-degree growth” — improving not only their businesses but also their personal lives, leadership skills, and overall well-being.

Through mentorship, peer forums, and curated learning experiences, members gain tools to better balance the demands of entrepreneurship with life outside the office. The goal is not just stronger companies, but stronger leaders.

A Global Network of Entrepreneurs
Connection sits at the center of the EO experience. Members become part of a trusted community of entrepreneurs who exchange ideas, challenge assumptions, and celebrate wins together. These peer relationships often provide clarity that founders can’t easily find inside their own organizations.

EO also opens doors to world-class education opportunities. Members can access proprietary programs and leadership experiences developed in collaboration with leading institutions such as London Business School, Harvard Business School, and The Wharton School. These programs combine academic insight with practical founder experience.

But for many entrepreneurs, the most valuable lessons come directly from fellow members. See how founders feel about the forum experience and the insights they've gained from other participants:

Q: What’s the biggest business change you made because of EO peer advice, and what single metric moved?

A: “My EO Forum encouraged me to slow down long enough to see my blind spots. I stopped running the company purely on instinct and intensity, and I started building real structure, accountability, and leadership around me.” -Jeremy Jenson, Encore Search Partners

A: “Joined and utilized EOS and have quadrupled our business.” —Mark Thiessen, Thiessen Law Firm

Q: What tough moment did EO help you navigate, and what was the outcome?

A: “Changing my business model to focus on one service and one service only — lawn sprinkler system repairs. We have seen greatly improved labor efficiency rates and profit margins.” —Jason Troth, Sprinkler Repair Professionals

A: “My forum helped me navigate and get past a health issue that had derived into a depression.” —Alejandro Cortez, SAI Environmental Services

Q: What’s the best “playbook” you borrowed from another member?

A: “Show up on time. Do what you say. Finish what you start. Say please and thank you.” —Robert Wagnon, W5Ranches

A: “You have to confidently ask for the business. Don’t chase clients at pricing that does not work.” —Pete Patterson, Patterson PC

The Power of Peer Insight
For many founders, the biggest breakthroughs don’t come from books or consultants—they come from conversations with other entrepreneurs who have walked the same path.

Peer-driven organizations like EO are redefining how leaders grow. By combining trusted relationships, shared experience, and access to world-class education, they create an environment where founders can think bigger, lead better, and build businesses that last.

And perhaps most importantly, they remind entrepreneurs that while building a company can feel lonely, they don’t have to do it alone.

Austin company to bring AI-powered school to The Woodlands

AI education

Austin-based Alpha School, which operates AI-powered private schools, is opening its first Houston-area location in The Woodlands.

The 8,000-square-foot school, scheduled to be ready for the 2026-27 academic year, initially will serve students in kindergarten through eighth grade. Alpha says the school will offer “open workshop spaces and innovative classrooms that support personalized instruction, core academics, leadership development, and real-world life skills.”

Alpha sets aside two hours each school day for the AI-driven, self-paced study of core subjects like math, reading and science. The rest of each school day consists of life-skills workshops focusing on topics such as leadership and financial literacy.

Alpha’s school in The Woodlands has begun accepting applications for the 2026-27 school year. Annual tuition costs $40,000.

“The Woodlands is one of the most dynamic, forward-thinking communities in Texas, and Alpha is proud to bring

an innovative educational model that complements its strong academic foundation,” says Rachel Goodlad, head

of expansion for Alpha.

Founded in 2014, Alpha School combines adaptive technology-driven instruction with immersive life-skills workshops. Its model emphasizes mastery-based learning in core subjects alongside development of communication, critical thinking, financial literacy and leadership skills. It operates more than 15 schools across the country.

Elsewhere in Texas, Alpha operates schools in Austin, Brownsville, Fort Worth and Plano. Alpha also operates 12 Texas Sports Academy campuses in Texas, including locations in Houston, Pearland and Richmond, along with a NextGen Academy esports school in Austin, a school for gifted students in Georgetown, and lower-cost Nova Academy campuses in Austin and Bastrop.

Alpha has fans and critics. While supporters tout students’ high achievement rates, detractors complain about the high tuition and the AI-influenced depersonalization of education.

“Students and our country need to be in relationship with other human beings,” Randi Weingarten, president of the American Federation of Teachers, a teachers union, tells The New York Times. “When you have a school that is strictly AI, it is violating that core precept of the human endeavor and of education.”

Alpha co-founder MacKenzie Price, a podcaster and social media influencer, doesn’t share Weingarten’s views.

“Parents and teachers: We need to embrace this change,” Price wrote after President Trump signed an executive order promoting AI in schools.

The Times notes that Alpha doesn’t employ AI as a tutor or a supplement. Rather, the newspaper says, AI is “the school’s primary educational driver to move students through academic content.”
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