Houston was the 21st most expensive rental market in the country last month, as median asking prices for one bedrooms increased 4.1% to $1,020, while two bedrooms similarly were up 4.8% to $1,320. These increases have put Houston ahead of Charlotte, Sacramento, and Virginia Beach in terms of rental market prices.
Though both bedroom types have been up in the short term, yearly trends paint a slightly different picture. One bedrooms over the trailing year have dropped 4.7%, while two bedrooms actually increased 5.6%. This discrepancy shows the difference in supply and demand dynamics across different bedroom types in the area.
At a neighborhood level, the most expensive areas to rent a home or apartment this fall include The Museum District ($1,830), Downtown ($1,540), and West University Place ($1,520). Other relatively pricey areas can be found just around these neighborhoods in the $1,200 – $1,400 range. More affordable finds are located in areas to the northeast, including Trinity Houston Gardens, Kashmere Gardens and Settagast, and the southeast, such as Pecan Park and Park Place.
If you’re interested in seeing how Houston stacks up to the rest of the United States, view our September National Rent Report which analyzed over 1 million active listings available in August across the country.
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