Texas Has Four of the Top 5 Cities for New Apartment Construction

Mish

A Texas apartment boom began at over a decade ago. It has recently picked up steam with Dallas, Austin, Houston, and San Antonio leading the way.

Texas is Booming

The RentCafe notes Texas Apartment Boom Poised to Continue as Tech Giants Relocate from California

  • Tesla, Oracle and HPE’s recently announced moves from California to Texas expected to trigger a rise in apartment demand.
  • Last decade, half a million new apartments were built in Texas during the past decade; Dallas metro leads with 177,400.
  • The Dallas metro area has no less than 49,000 apartments under construction — the highest of all Texan metros — with 11,400 new apartments to be delivered in Dallas proper itself. And just in time too! In 2019, financial services giant Charles Schwab, among others, said they were coming to Dallas. Moreover, just a few months ago, real estate brokerage firm CBRE announced that it would move its global corporate headquarters from Los Angeles to Dallas.
  • The Austin metro is in the process of building 31,000 apartments, 22,600 of which are located in the City of Austin — the most to be delivered in any Texas city. Between Oracle setting up camp here and a new Tesla branch said to create 5,000 jobs, they couldn’t come sooner. Although Tesla and SpaceX are still headquartered in California, Musk’s expansion in the Austin area comes with a 4M-5M sq.ft. facility worthy of a newly established tech hub.
  • Houston metro has 28,600 upcoming apartments. Named one of the most popular places for corporate relocation and office expansion, the City of Houston, in particular, has 17,400 apartments under construction — worthy of the new global headquarters to HPE.
  • San Antonio metro will welcome 10,900 new apartments. One of the most dynamic startup ecosystems in the country, San Antonio proper currently has 9,300 apartments underway.

Texas Under Construction

Top TX Metros by Apartments Under Construction

I asked the RentCafe where Texas stood nationally. Here are the results.

Top 10 Cities by Completed Apartments 

Top 10 Cities by Completed New Apartments

That is completed apartments for the past ten years. The boom has accelerated. 

There are 126,900 apartments currently under construction in Texas.

New Apple Campus

Dallas, Austin, Houston, and San Antonio metros have a whopping 119,500 apartments under construction right now.

Mish

Comments (33)
No. 1-12
PecuniaNonOlet
PecuniaNonOlet

While Texas is a red state, the cities listed all fall into the blue category. Interesting that rural areas are being left out.

Eddie_T
Eddie_T

They are putting up high rise condos too, lots of them.....the high end stuff..... in and near downtown....Austin has a downtown “loft culture” for those who can afford it. I’m sure that’s true in the other markets as well...but I’d say Austin and San Antonio have the best downtown amenities.

Eddie_T
Eddie_T

Doing the PPP round one forgiveness shuffle this morning. The bank has a link to their “Forgiveness Center”...the SBA has a similar link to “PPP Forgiveness"

Only problem...neither one has the necessary forms...and no suggestion of how to get them.....except the SBA kindly recommends that you can get them "from the lender”.

Why wouldn’t they just have the forms in place on their website? Both of them should have them up and ready to fill out online....but no......can’t actually facilitate that kind of largesse.....

Looks like we get to do Form 3508S...an expedited app for loans under 150K....if we can get said form. It sounds like the payroll companies are able to generate the necessary docs...but with ADP, I can never count of them either.....we shall see.

CoxSwane
CoxSwane

From Austin I can attest first-hand, it is very telling that of the 31k being built "in Austin" nearly 1/3 of those are not in the city limits. Smart people are increasingly eschewing the disastrous policy direction of the city gov't. The surrounding areas are vibrant and open for business.

davebarnes2
davebarnes2

Are these Top 10 "cities" or "MSAs" ?

Eddie_T
Eddie_T

The dollar looked weak at the close yesterday so I sold UUP (dollar bullish index) and went to all cash....I did not buy metals today, because I still think the dollar is close to a daily cycle low.

The dollar is still looking a for a swing low now....but it might not be today...Gold and silver fairly flat today, didn’t miss much by being on the side.

Jojo
Jojo

I moved my family from California to Austin, Texas and regretted it. Here are 10 key points every person should consider before relocating.
BRETT ALDER
JANUARY 20, 2021

ColoradoAccountant
ColoradoAccountant

I went to high school in Houston. We had a saying: "The only difference between Houston and Hell, is that Hell is more of a dry heat." That said, my relatives play golf year round. You can always get a tee time in the summer after 10:00 am.

Eddie_T
Eddie_T

We used to hit Stubbs for the P-Funk shows.....now THAT was fun. It isn’t quite the same since Stubbs sold the club. And P-Funk doesn’t do Austin shows anymore, AFAIK.


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