Pearland Ranks 11th Nationwide in Multifamily Housing List
Pearland Tower center.
HOUSTON – (By Dale King, Realty News Report) – Pearland ranks as the eleventh most sought-after suburb in the nation for people who prefer renting over buying their homes.
RENTCafé.com — a nationwide online listing service that helps renters find apartments and houses for lease across the United States — compiled the ranking. In a recent study, RENTCafé researchers set out to determine “which suburbs are the most popular with renters in the U.S.”
“Over the past few years, suburban renting has seen notable growth, driven by factors such as downsizing retirees, relocations and immigration,” the RENTCafé report states.
Researchers examined data from Yardi Matrix and the U.S. Census Bureau to measure renter population changes between 2011 and 2016 and identify suburbs that experienced the largest increases.
“We also analyzed rent-price changes over the same period to understand how rising popularity affected rents. As expected, suburbs that attracted high numbers of renters tended to see rents climb faster than average.”
Georgia, with a strong local economy and high-paying tech jobs, accounts for six of the top 20 trending suburbs in the U.S., while Texas follows with five suburbs on the list.
Chamblee, Georgia leads the list with a 156% growth in renter population, followed by Norcross at 148%.
In Texas, Flower Mound outside Dallas recorded the largest increase among Lone Star State suburbs, with a 115% rise in renters between 2011 and 2016. Allen saw a 71% increase, and Burleson experienced a 70% surge.
Pearland appears prominently in the Houston area results. “Pearland is Houston’s most sought-after suburb, with a 67% increase in renter population between 2011 and 2016 and a 6% rise in rent prices between 2014 and 2018,” the study finds. The average rent in Pearland in October 2018 was $1,273 per month.
Because of that renter growth, Pearland ranks as the 11th most popular suburb in the country, following Dallas–Fort Worth suburbs Flower Mound, Allen and Burleson.
Also notable in the Houston metro is Friendswood, which recorded the second-fastest renter growth with a 50% increase during the five-year period. That influx coincided with a 17% rise in rents over five years; the average monthly rent in October 2018 was $1,120.
Spring ranks as the third most popular rental market in the Houston area, posting a sizable 35% increase in renter population and an 11% rise in rents, reaching an average of $1,157 in October 2018.
Other Houston-area suburbs showing significant renter growth include Deer Park (up 33%), Seabrook (up 23%), Clute (up 20%), Lake Jackson and Rosenberg (each up 14%), Galveston (up 13%) and Pasadena (up 11%) over the 2011–2016 period.
The town of Stafford saw no change in renter population. A few nearby municipalities experienced declines: Humble decreased 2%; Alvin and Katy each fell 5%; and Richmond declined 11%.
The RENTCafé report notes that while suburban life may lack some of the bustle of city living, it offers clear advantages. Renting in the suburbs is often more affordable and provides more space for the money. In many areas, suburban public schools perform better than inner-city schools, and suburbs frequently offer a stronger sense of community — qualities that appeal especially to families.
