Some of the Texas’s biggest apartment markets have been national leaders for both supply and demand in recent years. Among them, Houston has seen the most net demand (demand less concurrent supply). Dallas, Houston and Austin ranked among the nation’s top five markets for demand in the year-ending 1st quarter, joined by New York and Phoenix, according to data from RealPage Market Analytics. Dallas, Austin and Houston also ranked among the top five national markets for apartment supply in the past year, joined by Phoenix and Atlanta. Houston, however, was the only Texas market to rank among the nation’s top five for demand surplus in the last year. Annual absorption in Houston topped concurrent supply by 8,034 units in the year-ending 1st quarter. Only New York saw a bigger net demand volume. Los Angeles, Washington, DC and Chicago also ranked among the top five. Dallas just missed out on a top five performance, with demand topping supply by 3,500 units. Austin was the only large Texas apartment market to see demand come in below supply, but the gap was negligible at only about 50 units.
