BY VALERIA ESCOBAR
Zooming in
Moving forward
Ressler said Texas—particularly Katy—is appealing because of its supportive policies that streamline the building process compared to other national markets. “You’ve got relaxed country living, good schools, diversity—those are the things people are looking for,” he said. “Millennials are aging and want something that looks and feels like a home but is still a rental. It’s not linear growth, but it’s definitely expanding.” Carmoody said Tricon is eyeing high-growth areas like Fulshear, where rental demand takes time to mature but offers strong long- term potential. According to housing data firm Population and Survey Analysts, there is expected to be an additional 798 newly occupied BTR units between 2024-28, cementing BTR’s role in the region’s housing mix.
Carmoody said he believes the average BTR tenant in Katy may have the potential for home- ownership in the future, but due to high home prices, job uncertainty or lacking a down payment, they may prefer to rent, with Tricon’s rent being nearly 30% cheaper than Katy’s median mortgage. “They’re just in a different situation or circum- stance where renting is their preference or their need at this time instead of owning,” he said.
Completed BTR units in the Greater Houston area
15K
12K
9K
Cost to own vs. rent in the Katy area
6K
Minimum qualifying income
Monthly payments
3K
Katy homebuyer
$149,200
$3,730
Fulshear homebuyer
0
$202,000
$5,050
2020
2021
2022
2025*
2023
2024
BTR developments**
$89,172*
$2,477
*FUTURE PLANNED UNITS REPRESENT THOSE FOR 2025 AND BEYOND SOURCE: POINT 2 HOMES/COMMUNITY IMPACT
*ALL DEVELOPMENTS EXCEPT VILLAS AT TAMARRON REQUIRE MONTHLY SALARIES THAT ARE 3 TIMES THE RENT. **TREVISO GARDENS IS NOT INCLUDED IN THIS DATA. SOURCES: HOUSTON ASSOCIATION OF REALTORS’ AFFORDABILITY REPORT, Q1 2025, MRI APARTMENT DATA/COMMUNITY IMPACT
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KATY - FULSHEAR EDITION
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