Millionaire Renters are Coming to Houston. Where’s the Smart Money Going?
- Dennis Lee
- Jul 29
- 2 min read
by Dennis Lee, CEO at Market Stadium
According to The Real Deal & RentCafe, “Houston and Dallas top the nation in millionaire renter growth.”
Curious which neighborhoods are best positioned for value creation, I used Market Stadium data to compare income growth and multifamily construction pipeline across 50+ Houston neighborhoods.
The chart below maps:
x-axis → Percentile rank of 3-year income growth among renter households earning >$100K
y-axis → Percentile rank of multifamily units expected to deliver in the next 3 years
Each dot = 1 neighborhood. The higher it sits on the chart, the more new supply is coming. The further right, the faster wealth is growing.
In short: the best bets combine rising wealth and new construction.
Key Takeaways
Q1 – Income Growth + Supply Pipeline Surge
Examples: Neartown - Montrose, Binz, East Houston, Alief
These areas are seeing both rising wealth and a significant construction pipeline. Demand is already here—and builders know it.
Q2 – High Supply, Moderate Income Growth
Examples: Downtown, South Acres - Crestmont Park, Washington Corridor
Big pipelines already in motion—but income growth is more middle of the pack. Potential for price stabilization if absorption slows.
Q3 – Lagging in Both Metrics
Examples: Greater Hobby, Acres Home, Westbranch
Low income growth and minimal new supply. These areas may be stable but lack near-term upside.
Q4 – High-Tech Growth, Low Housing Price Growth
Examples: Sharpstown, Willow Creek, Westwood, Panther Creek
Strong household income trends—but no pipeline. Tight supply may fuel near-term appreciation or renter constraints.
Mapped Insight
Q1 clusters around central & south Houston (e.g., Neartown, Alief, East Houston) where both rising incomes and active construction align.
Meanwhile, Q4 areas are growing wealthy but face severe supply shortages, suggesting potential bottlenecks—and investment opportunities.
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Dennis Lee
CEO at Market Stadium
Prev. Lionstone Investments Research Team
