land of many high rises

3 Houston ZIP codes are among hottest in U.S. for new apartments, report says

More people means more apartments to fit them all.

Nearly all of Houston has experienced a flurry of apartment construction to accommodate the equally expanding population in the last few years. In fact, three Houston zip codes in the Inner Loop were the hottest markets for new apartment construction between 2018 and 2022, according to a new rental market analysis by RentCafe.

Most impressive for the city, ZIP Code 77007 was the No. 11 hottest market in the U.S., with a 51.8-percent growth rate for apartments. Over 5,000 new apartments were built in the last five years, according to the study. The ZIP code encompasses the area below I-10 from Memorial Park, down Memorial Drive, to where I-10 meets I-45.

Apartment dwellers are surely getting the best views and amenities living so close to the famed Memorial Park, where a state-of-the-art running facility just opened its doors to the public.

Southeast of that area is 77002, which encompasses parts of Midtown, Downtown Houston, the Central Business District, Theater District, and First Ward. The ZIP code ranked No. 24 with a 69.3 percent growth rate from 2018-2022. Nearly 3,700 apartments were constructed within that time frame, according to the study.

Houston locals and newcomers flocking to the area likely moved there for its bustling nightlife, such as the new speakeasy-style cocktail and vinyl bar Off The Record or NYC-based Dominican restaurant and bar Mamajuana Cafe.

ZIP Code 77008 over Lazybrook/Timbergrove, Shady Acres, and Greater Heights earned No. 43 in the study, and had 2,887 new apartments built from 2018-2022. This ZIP Code had the highest growth rate out of all others in the Houston area, at 75.3 percent.

The top 10 zip codes that built the most new apartments from 2018-2022 are:

No. 1 – 20002 in Washington, D.C. (73.1 percent growth rate)
No. 2 – 20003 in Washington, D.C. (122.2 percent growth rate)
No. 3 – 11101 in Queens, New York (73.5 percent growth rate)
No. 4 – 37203 in Nashville, Tennessee (96.6 percent growth rate)
No. 5 – 75304 in Frisco, Texas (69.5 percent growth rate)
No. 6 – 85281 in Tempe, Arizona (38.8 percent growth rate)
No. 7 – 30309 in Atlanta, Georgia (65.1 percent growth rate)
No. 8 – 92101 in San Diego, California (46.4 percent growth rate)
No. 9 – 07302 in Jersey City, New Jersey (41.1 percent growth rate)
No. 10 – 98052 in Redmond, Washington (51.8 percent growth rate)

The full report can be found on rentcafe.com.

apartments growth rate for apartments housing market houston apartment construction inner loop zip codes real estate rent report rentcafe study reports

No Cap

Houston ranked No. 3 destination for Gen Zers on the move for 2023

Photo by Alexander Londoño on Unsplash

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As Gen Z enters adulthood, many are flocking to the nation's biggest cultural hubs like New York City, Los Angeles, and now Houston, which had the third-highest inflow of Gen Zers in 2023.

H-Town's new reputation as a Gen Z hotspot was unveiled in a recent report by American home improvement brand This Old House, which analyzed migration trends across multiple generations using 2023 U.S. Census Bureau data.

Houston saw an influx of 22,868 Gen Z residents last year to become the generations third most popular city. That's up from ranking as the No. 11 most popular city in 2022. Houston gained fewer than 7,600 new Gen Z residents during that time in comparison to 2023's migration trend.

Houston started gaining traction as an up-and-coming destination for Gen Zers last year, when the "experience-hungry generation" was on the hunt for an affordable place to live with vast opportunities for entertainment, education, or employment.

Real estate marketplace Zillow seems to agree on a statewide scale, declaring Texas as the No. 1 destination for Gen Zers on the move in 2024.

While Houston saw big gains in its Gen Z population last year, many other big cities saw a mass exodus.

"El Paso, Texas, has lost the most residents from this generation, with a drop of 5,607, a sharp turn from 2022 when the city saw an increase," the report said. "Other cities, including Plano, Texas; Memphis, Tennessee; McKinney, Texas; and Wichita, Kansas, are seeing similar declines."

The report also surprisingly revealed that Houston is also one of the top destinations for millennials and Gen X, whereas both New York City and Los Angeles lost more residents among those two generations in comparison.

Houston ranked as the No. 1 city for Gen Xers and No. 4 for millennials based on their respective migration trends in 2023. Houston gained 6,312 new Gen X residents last year – the most nationwide – and the fourth-highest amount of millennials (5,301 new residents).

"Gen X, baby boomers, and the Silent Generation are also moving away from major cities, particularly New York City and Washington, D.C.," the report said. "They’re heading to some of the same cities as Gen Z, including Houston and Jacksonville, Florida."

The top 10 cities that gained the most Gen Z residents in 2023 are:

No. 1 – New York City, New York
No. 2 – Los Angeles, California
No. 3 – Houston, Texas
No. 4 – Philadelphia, Pennsylvania
No. 5 – Chicago, Illinois
No. 6 – San Diego, California
No. 7 – Seattle, Washington
No. 8 – Charlotte, North Carolina
No. 9 – Dallas, Texas
No. 10 – Minneapolis, Minnesota