The rest of the United States has taken a 12 percent dip in apartment construction during the first half of the year, and Texas is seeming to be coming through relatively unscathed, according to a survey by RentCafe.
In housing starts, particularly apartments, Dallas-Fort Worth is leading the pack nationwide and not just now, but for the last three years combined. Where highly-packed urban areas like NYC and LA have seen their populations decline somewhat due to overcrowding, Dallas-Fort Worth has seen their growth blossom by 117,000 residents in just 2018 and 2019 and shows no sign of stopping.
Houston came in third place (New York still managed to snag second) with a staggering 90,000 new residents from 2019-2019, which has only been slowed by a downturn in energy-related jobs, particularly oil-related jobs (most likely due to the shaky price of crude oil in the world right now.)
Austin, a hub for the younger crowd, saw its population grow by 62,000 residents with more than 9,000 new residential projects. The city has added 50,000 new units in the last four years.
Finally, San Antonio added nearly 3,000 projects in Q1 and Q2.
It’s not all rosy. The Lone Star State expects that the housing market will contract with delays in funding and permits and restrictive measures for virus control. It may be a rough couple of years for the king of housing. But for now, things are flying high.