Many areas in Texas are struggling to keep up with multifamily demand due to steady hiring. Accelerating job creation together with record-high employment openings have boosted confidence among younger workers, convincing many that now is the time to move out on their own. These newly formed households are facing a tight housing market as national apartment vacancy is below 4% and single-family housing inventory to purchase sits near an all-time low. With hurdles to homeownership still high, many renters are choosing to stay in apartments longer, curtailing available units for newly formed households, according to Marcus & Millichap.—Lisa Brown