Texas reigns as the country’s No. 1 magnet for renters. According to an Apartments.com analysis, Texas gained nearly 73,000 net new renters from 2023 to 2024.

That figure, pulled from U.S. Census Bureau data, takes into account people who moved to and away from Texas.

Apartments.com says Texas remains attractive to renters thanks to factors such as affordability, job growth, and apartment availability. Many of these renters arrive from high-cost states like California and New York.

Among the state’s four major metro areas:

• San Antonio now has the highest vacancy rate among major U.S. apartment markets (15.7 percent).
• Dallas-Fort Worth rent growth recently slipped into negative territory as a wave of new apartments hit the market. “With modern housing choices backed by a strong job market that supports income growth, it’s easy to see why renters are flocking to Dallas,” says Apartments.com.
• Houston continues to stand out nationally for relative affordability and high apartment availability. “Though the city has seen growth in recent years, a steady supply of apartment communities has kept rents low,” according to Apartments.com.
• Austin continues to see widespread financial incentives for new renters, with more than 60 percent of properties offering one to two months’ free rent.

“Taken together, the data suggests Texas is entering a new housing phase: Demand remains strong, but the state’s massive apartment buildout is beginning to give renters more leverage than they’ve had in years,” Apartments.com says.

According to Apartment List, these are the top sources, in descending order, of new renters for each of Texas’ four major metros:

• San Antonio — Austin, Houston, Dallas.
• Dallas — Houston, Austin, New York City.
• Austin — Dallas, Houston, San Antonio.
• Houston — Dallas, Austin, New York City.

“For renters looking to move out of California, Texas was the most popular destination, edging out neighboring Nevada and Arizona,” Apartment List says.