Houston the top city for real estate development

by Emily Marek

The Top 20 Cities for Real Estate Development Over the Last Decade (via StorageCafe)

Houston ranks as the No. 1 city for real estate development over the past decade, according to a new report from StorageCafe. Ample residential, industrial and commercial construction make the Texas city the country’s hottest hub for real estate development.

The 100 largest U.S. cities were ranked based on inventory expansion in six categories during the time period from 2013 to 2022: single-family permits, multifamily permits, office space, industrial space, retail space and self-storage space. Houston came in at No. 1, followed by four other Texas cities: San Antonio, Austin, Fort Worth and Dallas, respectively.

What makes Houston stand out from the crowd? The city recorded the highest number of single-family home permits in the U.S. in the past decade (approximately 55,600), with the highest production years not occurring until 2021 and 2022. There were 90,000 permits for new apartments during the same time frame.

Houston also came in first in the country for industrial construction and second for office space construction, with 66 million square feet and 27 million square feet added in the past 10 years, respectively.

Here are some Houston statistics from StorageCafe’s report:

Single family permits: 55,601 (No. 1 overall)

Multifamily permits: 89,448 (No. 4 overall)

Office space: 27,047,939 square feet (No. 2 overall)

Industrial space: 65,862,162 square feet (No. 1 overall)

Retail space: 12,017,515 square feet (No. 2 overall)

Self-storage space: 5,699,859 square feet (No. 2 overall)

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