New Apartment Construction Still Chasing Demand

The Houston Apartment Association held its annual conference and expo at Reliant Center on Thursday.

Houston’s rapid job growth is turning the region into a magnet for workers from all over the country.  That’s giving a huge boost to the city’s rental market. Trey Stone is the Houston Apartment Association’s president-elect.

“We are actually the number 1 destination for U-Haul trailers in America right now, which just shows you how many people are moving to our city.”

The influx of new residents has pushed occupancy rates to over 90%, their highest level in five years.

“There is rapid construction underway to meet all of this demand. There are about 15,000 units that are currently under construction, another 15,000 that are currently proposed, and there are others that are actually in lease-up mode as well.”

The average monthly rent on a Houston apartment is just over $800. That varies greatly by location, with rents much higher in more-fashionable neighborhoods inside the Loop.


Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

More Information