On a hot August day in 1836, Augustus Allen and his brother John Allen landed on the banks of Buffalo Bayou and founded the City of Houston. Little did they know how far Houston would come over 184 years later. Read on to learn why Houston remains at the forefront of change and a city that continues to top the list for one of the best cities for multifamily investment.
Houston – An Economic and Multicultural Metropolis
The Greater Houston area is one of the most ethnically diverse metropolitan areas in the United States. According to the City of Houston, over 145 languages are spoken by residents in Houston. Over 90 nations have consular representation in the city.
Thirty-five companies on the 2020 Fortune 500 List are headquartered in the Houston metropolitan area.
A study by the consulting firm, McKinsey & Company, found that companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians.
Houston is the fourth most populous city in the United States and the most populous city in the state of Texas. The Greater Houston Metropolitan area is now the fifth-largest metropolitan area in the United States.
We are proud to call Houston home of the corporate headquarters of Better World Properties LLC and the Better World Family of Companies. Our principals call Houston home and some are bona fide native Houstonians. We have managed Houston apartment portfolios for decades for local real estate owners and apartment investors from across the globe. We know the city like the back of our hand and we love the people of Houston. As part of the U.S. multifamily housing industry that adheres to fair and equal housing standards, we represent a fair voice for all.
Houston – A Vibrant Metro With Undeniable Spirit
The Greater Houston Partnership notes that Houston is a vibrant metro filled with talented people who have an undeniable spirit. If Houston were an independent nation, the region would have the 26th largest economy in the world just behind Belgium and in front of Thailand.
The world has witnessed the seesaw price of oil over the years as supply and demand shifts. While oil is an important part of the Houston economy, the region is more diversified than ever including tremendous growth at the Port of Houston which provides $339 billion in state economic impact, 20.6% of Texas GDP and more than 1.35 million jobs statewide. Houston also excels in aerospace, technology, manufacturing, business incubation and banking services.
The Texas Medical Center is the largest medical center in the world employing over 106,000 people with 10 million annual patient visits and 50 million developed square feet.
The Perryman Group’s long-term projections for Texas indicate that through the year 2045, close to eight of every 10 new jobs are expected to be in one of the seven largest MSAs in Texas. The Houston area and the Greater Houston Metroplex alone will likely account for well over half of the positions added. The Perryman Group forecasts the nine-county metro area to reach 8.4 million by 2030.
Houston – A Great Place To Live, Prosper and Invest
So what does this mean for the future of Houston? Things look bright. Not only for employment and diversity, but also for investment and economic growth. The city of Houston has been and will continue to be at the top of the list for multifamily investors.
Is Houston Part of Your Apartment Portfolio?
Have you considered adding Houston apartments to your real estate investing portfolio? If so, we know Houston and we know apartments. If you own properties in Houston, we offer active apartment property management and apartment solutions all under one roof. We would love to see where we can add value to your bottom line.
Give us a call. Better yet come visit. We’ll pour some iced tea and chat. We love to make it a better world and we love to talk apartments.
Your Better World Properties LLC Team