Apartment activity added $4.5B to Houston economy

HOUSTON – Apartment construction and operations contributed $4.5 billion to the Houston area’s economy and supported 38,000 local jobs in 2011, according to National Multi Houston Council and the National Apartment Association.

Some highlights from the study include:

• $429 million was spent on new apartment construction in Houston in 2011;
• $1.7 billion was spent on apartment operations in Houston, generating $3.6 billion and supporting 31,000 local jobs;
• The apartment industry provides homes to almost 50 percent of Houston area residents; and
• Apartment operations and residents contribute $93 billion to the Texas economy and support 2.2 million jobs.