Petroleum engineers do well in Houston. Photo courtesy of Society for Petroleum Engineers

Are you a newly minted college grad searching for an in-demand job in Houston? If you're a petroleum engineer, you're in luck.

A study published May 27 by RentCafé, a platform for apartment rentals, shows the hottest job in Houston for college grads is petroleum engineer. RentCafé based its list of hot jobs on two factors: median pay and jobs per 1,000. The median pay for petroleum engineers in Houston is $178,240 and the rage of jobs per 1,000 is a mere 2.77

Austin? If you're a software developer, you're in luck.

As identified by RentCafé, here are the five hottest jobs in Houston for college grads:

  1. Petroleum engineer
  2. Sales manager
  3. Computer systems analyst
  4. Geoscientist
  5. Medical and health services manager

What follows are the hottest jobs for college grads in Texas' other major metro areas.

Austin
  1. Software developer / software quality assurance analyst and tester
  2. College education administrator
  3. Database administrator and architect
  4. Information security analyst
  5. Administrative services and facilities manager

Dallas-Fort Worth

  1. Sales manager
  2. Software developer / software quality assurance analyst and tester
  3. Information security analyst
  4. Medical and health services manager
  5. Computer systems analyst

San Antonio

  1. Medical and health services manager
  2. Software developer / software quality assurance analyst and tester
  3. Sales manager
  4. Computer systems analyst
  5. Nurse practitioner
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This article originally ran on CultureMap.

The median income in Houston grew more than 20 percent from 2010 to 2019. Photo by DenisTangneyJr/Getty Images

Here's how much Houston's household income grew over past decade

Money matters

Houston's household income jumped in the 2010s, but not as significantly as many other major U.S. metros, a new report shows.

Data compiled by apartment website RentCafé and published December 16 shows median household income inside the city of Houston (not the metro area) jumped 23.9 percent during the decade.

Houston ranks No. 40 for the rise in household income among the country's 50 largest cities. Houston's median household income grew from $42,355 in 2010 to $52,483 in 2019, according to RentCafé. For 2010 income, the website pulled data from the U.S. Census Bureau; it estimated 2019 household income based on a predicted 2.5 percent increase in the U.S. Consumer Price Index.

By comparison, the U.S. median household income stood at $63,179 in 2018, according to the Census Bureau, and Texas median household income checked in at $60,629.

"We're better off by almost all measures than we were 10 years ago," Carl Tannenbaum, chief economist for Northern Trust, told the Wall Street Journal in September. "But there are still some … flags that show that economic security remains more elusive for some families."

Only one Texas city ranked among the country's top 10. Austin, No. 8, saw a 54.6 percent hike during the decade, from $47,434 in 2010 to $73,332 in 2019.

As ranked by RentCafé, the top 10 cities for growth in median household income from 2010 to 2019 are:

  1. Atlanta, 60.9 percent
  2. San Francisco, 60.5 percent
  3. Oakland, California, 59.3 percent
  4. Seattle, 59.1 percent
  5. Portland, Oregon, 58.8 percent
  6. Miami, 57.1 percent
  7. Denver, 55.5 percent
  8. Austin, 54.6 percent
  9. San Jose, California, 50.9 percent
  10. Brooklyn, New York, 48.9 percent

Well down the ladder is Dallas, at No. 27. From 2010 to 2019, the city's median household income surged 31.6 percent — from $40,650 to $53,515.

At No. 38 is Fort Worth, where median household income increased 24.2 percent during the 10-year span — from $48,224 to $59,909.

San Antonio hovers close to the bottom of the 50-city list. Alamo City ranked 46th, with a 14.8 percent gain over the 10-year period. Median household income went from $43,758 to $50,250.

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This article originally ran on CultureMap.

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

Houston area sees more new apartments than almost any other city

built up

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.

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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.

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Houston biopharma company launches equity crowdfunding campaign

money moves

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


Texas ranks as a top state for female entrepreneurs

women in business

Texas dropped three spots in Merchant Maverick’s annual ranking of the top 10 states for women-led startups.

The Lone Star State landed at No. 5 thanks in part to its robust venture capital environment for women entrepreneurs. Last year, Texas ranked second, up from its No. 6 showing in 2021.

Merchant Maverick, a product comparison site for small businesses, says Texas “boasts the strongest venture capital scene” for women entrepreneurs outside California and the Northeast. The state ranked fourth in that category, with $6.5 billion invested in the past five years.

Other factors favoring Texas include:

  • Women solely lead 22 percent of all employees working for a business in Texas (No. 4).
  • Texas lacks a state income tax (tied for No. 1).

However, Texas didn’t fare well in terms of the unemployment rate (No. 36) and the rate of business ownership by women (No. 29). Other Texas data includes:

  • Average income for women business owners, $52,059 (No. 19).
  • Early startup survival rate, 81.9 percent (No. 18).

Appearing ahead of Texas in the 2023 ranking are No. 1 Colorado, No. 2 Washington, No. 3 California, and No. 4 Arizona.

Another recent ranking, this one from NorthOne, an online bank catering to small businesses, puts Texas at No. 7 among the 10 best states for women entrepreneurs.

NorthOne says Texas provides “a ton of opportunities” for woman entrepreneurs. For instance, it notches one of the highest numbers of women-owned businesses in the country at 1.4 million, 2.1 percent of which have at least 500 employees.

In this study, Texas is preceded by Colorado at No. 1, Nevada at No. 2, Virginia at No. 3, Maryland at No. 4, Florida at No. 5, and New Mexico at No. 6. The rankings are based on eight metrics, including the percentage of woman-owned businesses and the percentage of women-owned businesses with at least 500 employees.