The Texas Apartment Association—10,700+ members representing more than 1.8 million rental housing units in the state
- provide housing for more than 4 million Texans
- employ an estimated 70,000 full-time employees
- represent property with a market value of more than $150 billion
- pay property taxes exceeding $3 billion
What do we know about Texas renters?
Texans rely more on rental housing than do Americans as a whole. Moreover, this reliance has grown over time.
- Census data shows that four out of 10 Texas households reside in rental housing, with about half of those renting living in multifamily structures with five or more units.
- Apartment residents in Texas are younger on average than apartment residents in the United States, with more than a third being under the age of 30.
- Nearly two-thirds of Texas households which rent consist of one or two persons. Surveys show 60 percent have no children at home under the age of 18.
- About half of all renting households in the Lone Star State have incomes of under $25,000 a year, but 15 percent have an annual household income of more than $50,000.
- Apartment residents reflect the changes underway in the state’s dynamic population.
- Apartment living is more prevalent in the South than in other regions of the nation.
Economic impact of apartment construction
The estimated one-year local impact of building a 250-unit apartment complex in Texas includes:
- $26.3 million in new sales for Texas businesses
- $10.6 million in new earnings for Texans
- 319 new jobs for the community
- $1.1 million in new revenues for state and local government.
These are one-year, local impacts of construction.