- Milennials account for 15 percent of Houston's population.
- Roomi will next go live in Boston.
- Roomi users typically find a roommate in three to 48 hours.
An app aimed at connecting renters with an extra room with individuals looking for a place is continuing its market expansion.
Several days ago, Roomi went live in Houston, along with Dallas, San Antonio and Austin.
Since that time the app has registered 3,000 sessions within those markets, with the top city for usage being Dallas followed by Houston, according to Ajay Yadav, founder of Roomi. The most common search has been for two-bedroom apartments.
Houston was an attractive market for expansion because of its large apartment stock and sizable population of 25 to 34 year olds (millennials), which is the app’s target demographic. Headlight Data recently estimated that 15.1 percent of Houston’s total population is comprised of millennials.
The metro’s rental stock is growing as an estimated 18,000 to 20,000 multifamily units will be delivered this year. A high volume of these units will be within The Inner Loop, The Woodlands/Conroe, Galleria and Energy Corridor/Katy markets.
Roomi expansion is ahead of rental surge
Anyone in Houston with an available room or space can list it on Roomi, with all listings fully verified before going live.
After downloading the free app users create profiles to give potential roommates an idea of their personality. The profile is based on series of interest and lifestyle questions. Users also enter info related to age/gender preferences, pricing, availability, amenities, rules and moving date.
The app then allows users to find potential compatible roommates and connect via an in-app messaging feature.
Boston represents the next expansion market for the app, which will go live in that city this April. As the year moves on the app will also be available for use by renters in Chicago, DC and Seattle.
App expansion is happening in anticipation of growth within the shared rental sector, which Yadav expects to expand sizably in next 10 to 20 years.
The app was officially launched in June of last year, initially focused on New York City, and saw nearly 100,000 downloads before noon that day. In addition to New York City and the four Texas markets, the app is currently live in Los Angeles, San Diego, San Francisco and Philadelphia.
“We want to help people break free from the traditional lease and find flexible, affordable co-living solutions that feel like home. That starts with building back trust in the peer-to-peer marketplace,” states the app’s website.