What are lease-up apartments?
Lease-up is the stretch between a new building’s first move-in and the point it’s mostly full. Owners call that full point stabilized occupancy. Until then, the building uses specials to fill empty units, and that’s often where the deepest deals sit.
Houston has had a lot of new supply. More than 25,000 units were delivered in the year ending Q2 2024 (RealPage), and 13,319 were still under construction in Q2 2026 (Transwestern). Deliveries drop to about 5,600 in 2027, the lowest in nearly 15 years (Northmarq).
That means many buildings are in lease-up right now, and fewer will join them next year. This page groups those buildings by stage, so you can see where the choice and the specials are.
What do the stages mean for you?
Each card on the board carries a stage chip.
- Pre-leasing. The building isn’t open yet. You reserve a unit for a future move-in date. Dates are estimates until the community confirms them.
- Lease-up. The building is open and filling. Unit choice is wide and specials are usually at their deepest. Some phases may still be under construction.
- First 24 months. The building is past its first push but still new. Specials are often smaller, and amenities are more likely to be finished.
We also show a build-status chip. It tells you how many phases are delivered and whether amenities like the pool, gym or garage are done. Many Houston buildings open in phased delivery, with early phases leasing under a temporary certificate of occupancy (TCO).
Stage is part of the Houston New Build Score
Lease-up stage weighs 15 of 100 points in our score. Earlier stages usually mean more room on price. Commission never touches the score.
What should I ask a building in lease-up?
A building that just opened has no long track record. These questions fill the gap.
- Which phases are finished, and when do the rest deliver?
- When will the pool, gym and parking garage open, in writing?
- Can I pick a unit away from active work or the construction next door?
- What’s the percent leased right now?
- How fast are work orders and the punch list handled?
We ask these for you and share the answers before you apply. We also look at the manager’s other buildings and post dated tour notes.
How does the first renewal work at a lease-up building?
Your first renewal is when the special ends. The first renewal cycle starts from base rent plus any increase. At the board’s median special, year two jumps about 18% (board math, Oct 25, 2026).
That jump isn’t a surprise if you see it early. Every card shows year two beside the special. Around month 10, our Renewal Check compares your offer against nearby new builds, so you can renew or move with real numbers.
How do I find the right lease-up building?
Tell us your move date, lease end, size and all-in budget. We’ll match you with buildings at the right stage, confirm the unit and special in writing, and line up to four tours on one side of town in one afternoon. During hours, we reply the same day.
