Texas Cities With The Most Apartment Inventory Growth

The past decade saw a surge in apartment completions across the country, and many of the fastest-growing submarkets are in Texas, according to recent RealPage data.

While average apartment inventory growth was 21% from 2014 to 2024 nationwide, some Texas neighborhoods more than tripled their apartment stock over the same decade.

Explosive Dallas Submarkets

Dallas has been a national leader in apartment completions for some time, with nearly 201K units delivered in the past decade.

Frisco, a northern suburb of Dallas, saw the most impressive growth, with its apartment inventory up 238.3% between 2014 and 2024. This was thanks to rapid growth in Collin and Denton Counties, which saw their populations swell by 11.1% and 10.2% from 2020 to 2023.

The Rockwall/Rowlett/Wylie submarket also saw substantial growth, with 234% more apartment units, adding around 8.8K new units. This area, northeast of Dallas, saw Rockwall County’s population jump by 20.3% in the same period.

Another notable submarket, Kaufman County, saw apartment inventory more than double, up 143.9%. Kaufman County’s explosive population growth of 26.2% from 2020 to 2023 contributed significantly to this housing surge.

Austin’s Rapid Expansion

With its booming tech scene and vibrant economy, Austin saw its apartment inventory grow by 61.5% over the last decade, adding 126.1K units.

Several Austin submarkets enjoyed growth well beyond the city’s average, notably East Austin and Southeast Austin, which saw inventory shoot up 155% and 140.4%. The construction of Texas State Highway 130 in 2012 spurred development across these once-underdeveloped areas.

North of Austin, Cedar Park’s apartment inventory grew by 145.3%, adding nearly 13.8K units. Cedar Park’s development was fueled by its appeal to young professionals and families, with its proximity to major employers like Apple (AAPL) and Google (GOOGL), and many public transportation options.

Fort Worth, Houston Grow

Other Texas cities are also reported rapid apartment growth. North Fort Worth/Keller saw apartment inventory grow by 151.9%, with 10.9K units added. This growth is reflective of the overall population increase in Tarrant County, which saw a 3.2% rise between 2020 and 2023.

Meanwhile, Houston’s Spring/Tomball submarket added nearly 14.5K units in the past decade, with 145.8% inventory growth. This northern suburb of Houston also benefited from Harris County’s 2.1% population growth in recent years.

Looking Ahead

While apartment supply volumes across Texas are expected to drop in the near future, the effects of this explosive inventory growth will continue to be felt for years. 

With substantial population growth and ongoing demand for housing, these Texas submarkets are likely to maintain strong rental markets, even as new construction slows.