Houston named a top spot for renters from other Texas cities
Not surprising to anyone who recently rented an apartment, Houston is a hot rental market. A new study confirms this and shows that the city of Bayou is one of the largest moving locations for tenants in the country.
A new study by the self-storage platform StorageCafé found that Houston ranks fifth among the country’s top attractions for all tenants in 2020. Nearly 70 percent of Houston renters were from other locations in Texas, followed by Katy (8.8 percent) through Spring (6.1 percent) and Modest (3.2 percent).
Houston attracts city dwellers and former suburban residents in almost equal proportions: 54 percent versus 46 percent, according to the study. The cities of origin for renters moving to Houston are the nearby cities of Katy, Spring and Sugar Land, but also Austin and San Antonio.
An important factor: between April 2020 and the end of last year, unemployment fell here by almost half, from over 14 percent in April 2020 to below 8 percent in December. This signaled a recovery in the local economy, which, according to the study, will continue to attract out-of-towers. Renters are also drawn to spacious apartments, with Houston ranking 11th nationwide in average apartment size – roughly 880 square feet.
Elsewhere in Texas, Austin is the biggest magnet in Texas for renters who moved here from another state. Around 40 percent of tenants who moved to Austin last year came from another state, the study shows. This equates to 33 percent for San Antonio, 30 percent for Houston, 24 percent for Fort Worth, 21 percent for Dallas and 15 percent for Arlington.
Two points away from Houston, in seventh place, is Dallas, where Garland accounted for the most incoming tenants last year with 6.4 percent. Austin ranks 11th, with Round Rock posting the most renters (6.1 percent). San Antonio sits in 12th place; The city of Converse led the way for incoming tenants to Alamo City (3.8 percent).
Houston also has the highest number of rental listings for green communities in a city in the nation, according to a study other than ApartmentGuide.