Houston's new apartment construction hotspots by zip codes
Houston - If you've noticed new apartments being built in your Houston neighborhood, you might reside in one of the hottest zip codes for apartment construction. Through an analysis of data from Yardi Matrix, RentCafe identified the top zip codes where substantial development has occurred over the last five years.
HOUSTON, TX - JANUARY 07: An upscale apartment project is seen during construction in the Upper Kirby area on January 7, 2013 in Houston, Texas. Houston's success with job growth in recent years has placed the city among the top markets in the countr
The 77007 zip code area emerges as a leader, ranking 11th nationally for new units built. In just five years, this area welcomed 5,014 new apartments, signifying an impressive 58% growth. Notably, most of these newly built units fall into the high-end category, and residents earn twice the metro average.
Moving into downtown Houston, the 77002 zip code area claims the 24th spot nationally, with 3,687 new apartments transforming the cityscape over the past five years. Interestingly, 81% of these new units are in prime neighborhoods, according to the report.
The 77008 zip code, located just northwest of downtown, has also seen a significant amount of growth. In the last five years, this zip code added 2,887 new apartments, reshaping The Heights and surrounding neighborhoods. While 67% of these newly constructed apartments fall into the high-end category, there's a notable mix of housing options.
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Although some Houston neighborhoods may not top the charts, the transformation is profound due to their smaller original housing stock. For instance, zip codes 77389, 77009, and 77346 more than doubled their apartment supply in just five years.
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Zooming to the statewide picture, Dallas metro leads with eight zip codes in the top 50 nationally for completed units, with Frisco's 75034 claiming the top spot. Austin follows closely behind, boasting five zip codes among the top 50. Notably, this was the only Texas metro that made the list.
The apartment construction boom in Houston is reshaping various neighborhoods, providing residents with new living options and contributing to the city's dynamic urban landscape.