🏡 Texas Apartment Construction Hits Historic Highs in 2024! 🎉

🏠 Texas Apartment Market Set for Explosive Growth in 2024! 🚀

August 12, 2024•2 min read

🏠 Texas Apartment Market Set for Explosive Growth in 2024! 🚀

🏡 Texas Apartment Construction Hits Historic Highs in 2024! 🎉

Texas is about to make some serious waves in the apartment market! In 2024, the Lone Star State is on track to see a record-breaking number of new rental units, with over 80,000 apartments expected to be completed. This isn't just a milestone—it's a massive leap forward! 🚀

A Texas-Sized Boom

Everything’s bigger in Texas, and that includes apartment construction! In 2024, we’re looking at a whopping 80,000 new apartments coming online, marking a historic high for the state. That’s a 12% jump from 2023 and a 35% increase compared to 2022. 🤯 To put it into perspective, that’s enough new homes to house the entire population of a city like Waco! #BigThingsInTexas #TexasRealEstate

Leading the Charge: Dallas & Austin 🌆

Dallas and Austin are leading the way, with these two powerhouse cities set to add nearly 55,000 new units between them. Dallas alone will see 32,932 new apartments, while Austin is not far behind with 21,506. These two metros will make up nearly 70% of Texas’s new apartment supply by the end of 2024. #DallasBoom #AustinLiving

Other Hot Spots 🔥

But it’s not just about Dallas and Austin—Houston and San Antonio are also heating up! These cities are expected to contribute around 20,000 new units combined. With strong population growth driving demand, Texas is clearly the place to be! #HoustonRising #SanAntonioGrowth

Looking Ahead: What’s Next? 🔮

As we look to the future, Texas is expected to keep the momentum going, with nearly 400,000 new apartments projected by 2028. Almost half of the major metros across the state are gearing up to build more apartments in the next five years than they did between 2019 and 2023. However, developers are starting to play it safe, with a slight slowdown expected in 2025—completions might drop by about 15% compared to 2024. #TexasRealEstateFuture #ApartmentTrends

The Big Takeaway 🎯

Texas is on fire when it comes to apartment construction, with 2024 set to be a record-breaking year. But while the boom continues, developers are beginning to look at lower-risk projects as they prepare for a potential slowdown. The journey ahead will be shaped by the state’s booming economy and the ever-growing demand for housing. #TexasLiving #ApartmentLife #RealEstateTrends

I’m an experienced Commercial Real Estate Mortgage Broker, please feel free to reach me at 281-222-0433.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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