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The shooting happened at about 9 p.m. on Saturday at the Willow Ridge Apartments in the 12800 block of Dunlap Street.
Police said there was a disagreement between the two men and the woman, but the matter is unclear.
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The woman then reportedly retrieved a gun and shot both men for an unknown reason, police said.
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One man was pronounced dead at the scene. The second was shot in his upper body but fled the apartment on foot.
The woman also left the area in an unidentified car, and was believed to be with two children whose ages are unknown, Lt. Riley with the Houston Police Department said.
There were no witnesses, and police have not yet given a suspect description.