a league apart

Houston tops the charts for 3rd most new apartments built in U.S. since 2020

Luxe apartments like the Novel River Oaks are big draws for renters.

Shiny new apartment complexes are popping up everywhere around the country, but no more than two cities can claim quite as many as Houston.

The Houston metro area, in fact, has had the third most new apartments constructed since the beginning of the "pandemic building boom" in 2020 in the U.S., according to a new study by apartment rental marketplace RentCafe.

Third highest construction rate from 2020 to 2022
The construction analysis revealed 53,741 new apartment units opened in Houston between 2020 and 2022. Houston's numbers far outshine one of the biggest renter metros in the state – Austin (No. 4) – by nearly 8,700 units.

"The metro is also home to several major companies such as ExxonMobil and Chevron — both of which expanded their presence in the area during those three years — that attract a large number of workers, further supporting demand for rental apartments," the report's author said.

Broken down by city, Houston constructed 28,423 new apartment units between 2020 and 2022, while Katy built the second highest number of new apartments: 4,859. Spring built 3,878 new units within the same time frame, and Richmond made up 2,324 new apartment units.

The only two cities to outrank Houston are New York (No. 2) and Dallas (No. 3), which developed a whopping 66,070 and 76,660 new apartment units, respectively, within the same time period. Austin and Miami round out the top five with 45,051 and 42,960 new units built between 2020 and 2022.

The remaining top 10 metros that completed the most new apartments between 2020 and 2022 are:

No. 6 – Washington, D.C. (42,723 units)
No. 7 – Los Angeles (39,842 units)
No. 8 – Atlanta (39,467 units)
No. 9 – Seattle (36,952 units)
No. 10 – Twin Cities, Minnesota (31,662 units)

New apartments to meet rising demand in 2023
Houston may have topped the charts for new apartments built during the pandemic, but it slipped out of the top five in the analysis of projected completed units in 2023. The study found that developers are set to build 13,637 new rental units by the end of December, which is 19,364 fewer than New York, which claimed the No. 1 spot in 2023.

The report commented that Houston's "slower" apartment growth earned it No. 8 in the ranking of the overall top 20 U.S. metros for construction in 2023. But the city's focus is not necessarily on building apartments.

"[The Houston] metro (along with Dallas, Austin and San Antonio) is keen on building single-family rentals to meet the needs of those who are not yet ready to become homeowners," the report said.

The top 10 metros predicted to build the most new apartments in 2023 are:

No. 1 – New York City (33,001 units)
No. 2 – Dallas (23,659 units)
No. 3 – Austin (23,434 units)
No. 4 – Miami (20,904 units)
No. 5 – Atlanta (18,408 units)
No. 6 – Phoenix (14,629 units)
No. 7 – Los Angeles (14,087 units)
No. 8 – Houston (13,637 units)
No. 9 – Washington, D.C. (13,189 units)
No. 10 – Denver (12,581 units)

The full report can be found on rentcafe.com.

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How Sweet

Sugar Land's first new apartment complex in 13 years breaks ground

Pearl Lake Pointe luxury apartment complex Sugar Land.

Rendering Courtesy of Morgan

Pearl Lake Pointe is a 376-unit luxury apartment complex slated for early summer 2027 in Sugar Land.

Sugar Land is welcoming its first new apartment development in more than a decade. Pearl Lake Pointe, a 376-unit luxury community from developers Morgan and Carlyle, is underway at 16435 Creekbend Drive.

Construction began in November, with an official groundbreaking held this week. “The groundbreaking of Pearl Lake Pointe marks an exciting new chapter for the Lake Pointe peninsula,” Sugar Land Mayor Carol K. McCutcheon said in a statement. “After years of planning and collaboration with Morgan, this project delivers much-needed, high-quality multifamily housing and strengthens our long-term vision for a vibrant, connected district. This milestone will help drive continued reinvestment and momentum throughout Lake Pointe and across Sugar Land.”

Set across 6.46 acres, the five-story complex will feature five live-work units, a six-story parking garage, and 9,940 square feet of commercial office space. Fitness centers, a resort-inspired pool, a golf simulator, a sky lounge, and a cafe are among the planned amenities.

Inside the residences, features include open-concept floor plans, quartz countertops, stainless-steel appliances, washers and dryers, and balconies in select units.

“Pearl Lake Pointe is a unique opportunity to elevate the living experience and set a new benchmark for luxury in Sugar Land,” Kase Pappert, Morgan senior development manager, said. “We are grateful for the City’s partnership and look forward to helping re-energize the Lake Pointe peninsula with a welcoming community that feels like home and connects residents to the amenities right outside their door.”

Roughly 20 miles from downtown Houston, the site has views of Brooks Lake and is adjacent to the former Fluor corporate campus currently being transformed into the Lake Pointe Green mixed-use development.

The first Pearl Lake Pointe units are slated for delivery in early summer 2027. Morgan and Carlyle will own and manage the community, with project financing provided by Texas Capital Bank.

“With Pearl Lake Pointe, Carlyle and Morgan are redefining multifamily living and adding meaningful momentum to address the demand for high-quality housing in the Sugar Land submarket,” said Adam Buchwald, Carlyle managing director and partner. “Partnering with Morgan — an accomplished developer with a strong track record — makes this project even more exciting, and Pearl Lake Pointe is a standout addition to Carlyle’s portfolio of high-quality multifamily developments.”

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