Texas: In the Spotlight
Texas is one of the largest states in the country by sheer land mass, and although it was one of the last to join the union it’s quickly becoming one of the most popular places for people to call home. Cities like Dallas and Austin are seeing housing booms like never before, with more than 197,000 apartments acquired last year alone. Texas is home to 28.7 million residents and is seeing more growth than most states in the southwest.
- Texas was once its own country and six countries have ruled it in its lifespan
- Texas is the second-most populous state in the U.S.
- There’s a single ranch in Texas that is larger than the entire state of Rhode Island
- The average age in Texas is 35
- The average household income is $60,629
- There are more than 13.1 million employees in the state
Texas Apartment Loan and Multifamily Property Facts
Texas is hot for multifamily housing. It probably took the smallest hit in 2020 when compared to other major markets, and it’s on the rise for an impressive year in 2021 and beyond. Since 2012, Austin has gained 75,000 units, while Houston has gained over 113,000 and Dallas has grown by as many as 151,000 units.
- Austin had over 28,000 units in development by August of 2020
- Dallas saw about 20,000 new units in 2020, with another 30,000 or so underway
- Houston is currently developing over 30,000 units and counting
- The average rent in Texas is $958, with people in cities like Austin, Houston, and Dallas paying an average of $1,200.
- There are over 900 units on the market as of Spring 2021
As you can see, the Texas market is prime for apartment lending, as more people in the state are looking for long-term rental potential and condos than single-family homes. In the cities, the multifamily developments are huge, but there are opportunities in outlying areas, as well. Consider the right apartment loan and location to get your foot in the booming Texas market.
Texas Apartment Loan and Lending Options
In the state of Texas, there are several types of lending options for apartment loans and financing. You can count on us to help you with all of your Texas apartment financing needs, including:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Finance Your Texas Apartment Building Now
At Apartment.loans, our team knows what it takes to get the financing that you deserve, from standard apartment loans to commercial real estate financing, and more. We can work with ground-up developments, stabilized properties, and even value-add opportunities. No matter what you have in mind, we have the know-how and the connections to get the loans that you want.
Our team can make sure that you get the best offers and know what you’re getting into with your real estate investment. Whether you have more basic needs or there’s a special investment you’re interested in, let us know what we can do to help. Our Texas apartment loans will give you everything that you need. If you’re ready to get started or just want to know more, contact our Texas Apartment Lending Specialists now at [email protected] or (800) 567-9631.