THE RENTAL RADAR
WHERE TO INVEST NEXT CONROE, TX
C onroe has emerged as one of the fastest-growing population centers in the Greater Houston region, with its population expanding by ~39% from 2010 to 2020 and an additional estimated 25-30% since 2020 alone. This outsized growth materially exceeds state and national averages and is driven by inbound migration, relative housing affordability, and proximity to major employment hubs along the I-45 North corridor. From an investment perspective, this sustained population growth underpins durable multifamily demand, supporting occupancy and long-term rent growth. Importantly, forward-looking supply is expected to moderate as the City of Conroe and Montgomery County implement tighter development controls tied to infrastructure, utility capacity, and permitting constraints. These restrictions are likely to limit new multifamily starts relative to historical levels, creating a more favorable supply-demand dynamic that benefits existing, well-located apartment assets through reduced competitive pressure and enhanced pricing power over the medium term.
KYLE DEVILLIER Associate Director of Investments National Multi Housing Group Connect with Kyle
Let’s take a look at some other fun facts about Conroe, TX
Median household income
Population 114k
Property Taxes: 1.4%-2%
$75k
Best overall Cash Flow: B-class, 2-4 units Best long-term total return: Single Family w/cosmetic upgrades
Average 1-bedroom rental $1,200 (vs. $1550 nat’l avg)
Median age 32.8 yrs
Best overall rental performer: Single Family 3-4 bedrooms
Vacancy rate 10% (due to recent increased multifamily construction)
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