Sorry, Dallas. Houston No. 1 in Texas for multifamily permitting, report says
October 7th, 2019
Multifamily permitting in the greater Houston market continues to outpace nearly all major markets in the country, including every other major metro area in Texas, according to a recent report by RealPage, a Richardson, Texas-based real estate software firm.
In the 12 months preceding July 2019, multifamily permitting in Houston-The Woodlands-Sugar Land metropolitan area totaled 20,932 units, about 9,500 more than the preceding year. The report found that Houston was behind only the New York City-White Plains metro area in multifamily permitting. In New York, 30,790 units received permits, down 1.8 percent year over year.
The city of Houston and unincorporated Harris County actually led RealPage’s list of top multifamily permit-issuing entities in the United States, coming in at No. 1 and No. 2, respectively. The city of Houston issued 9,931 multifamily permits, while unincorporated Harris County issued 8,711.
Officials in greater Houston issued about 4,000 more permits for multifamily units than the 16,539 approved in the Dallas-Plano-Irving metro area, which ranked No. 3 in RealPage’s list of top markets for multifamily permits. Greater Dallas actually saw a 26.8 percent year-over-year decline in multifamily permitting, RealPage reported.
The Austin-Round Rock metro area came in at No. 7 on RealPage’s list, with permits issued for 11,122 multifamily units. That was down about 10.6 percent from the prior year.
Along with New York, Houston and Dallas, Austin trailed metro Washington, D.C., with 15,155 units permitted; metro Seattle with 14,816 units permitted; and metro Los Angeles with 12,412 units permitted.
Rounding out the top 10 were metro Minneapolis-St. Paul, with 10,672 units permitted; metro Atlanta with 9,631 units permitted; and metro Chicago with 9,446 units permitted.