May
11
The Largest Rental Developments Completed in 2015 in Houston
ByLast year has brought 54 rental developments of 50+ units to the metro, bringing as many as 14,871 new apartments to Houston’s housing inventory.
Houston—The booming energy sector and the plethora of Fortune 500 companies headquartered in and near Houston would be enough to lure new residents to the area by the thousands. The attractive tax incentives ensure that startups and corporations continue to pour in, with notable results: Houston’s metro area has added more than 100,000 residents between 2013 and 2014, and just shy of 160,000 in the subsequent year, according to the US Census Bureau.
Yardi Matrix data shows that 54 new apartment projects of 50 or more units came online last year in the Houston metro, adding a total of 14,871 new units to the inventory, and 28 of these developments are located within the city’s boundaries, which translates into 7,739 new apartments for rent in Houston. New rentals, built since 2010, command a monthly average of $1,777, while the overall average rent for apartments in Houston is currently at $1,035…
The Largest Rental Developments Completed in 2015 in Houston
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