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According to the 2010 Census, the state of Texas boasts five of the top 16 most populated cities in the US. These are Houston (#4), followed by San Antonio (#7), Dallas (#9), Austin (#14) and Fort Worth (#16). At almost 6.3 million people, the Houston-Sugarland-Baytown MSA also ranks as the-fourth largest MSA in the US as of July 2011. According to the Perryman Group, an Austin-based economic consulting group, Houston is leading the state in population growth, and will add 3.37 million residents and 1.43 million jobs between now and 2035, accounting for almost a quarter of Texas' job growth.

The old adage in real estate of “location, location, location” still holds true. But for Houston the real headliner is about job growth. During the past 12 months, the Houston MSA created more than 89,000 privatesector jobs, a 4.1% growth rate. Houston and Washington, DC remain the only major metro areas to have recovered all jobs lost during the recession. Among the leading job sectors in Houston to post positive job growth are professional and business services (20,900 jobs), trade and transportation (15,000), oil and gas (10,300), durable goods manufacturing (12,600), leisure and hospitality (11,000) and construction (5,200). The 2012 forecast by the Greater Houston Partnership, Houston's chamber of commerce, calls for the MSA to add 86,400 jobs in 2012. Houston's unemployment rate has varied between 6.5% and 7.6% over the past 12 months. It goes without saying that these great statistics have had a positive impact on the multifamily sector locally.

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