September 2018 Houston Rent Report
Welcome to the September 2018 Houston Rent Report. Houston rents declined over the past month. In this report, we’ll evaluate trends in the Houston rental market, including comparisons to cities throughout the metro, state, and nation.
Houston rents declined slightly over the past month
Houston rents have declined 0.2% over the past month, but have increased moderately by 3.6% in comparison to the same time last year. Currently, median rents in Houston stand at $840 for a one-bedroom apartment and $1,030 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in June. Houston’s year-over-year rent growth leads the state average of 1.8%, as well as the national average of 1.0%.
Rents rising across the Houston Metro
Throughout the past year, rent increases have been occurring not just in the city of Houston, but across the entire metro. Of the largest 10 cities that we have data for in the Houston metro, 9 of them have seen prices rise. Here’s a look at how rents compare across some of the largest cities in the metro.
Pasadena has the least expensive rents in the Houston metro, with a two-bedroom median of $990; the city has also experienced the fastest rent growth in the metro, with a year-over-year increase of 4.1%.
Over the past year, Rosenberg is the only city in the metro that has seen rents fall, with a decline of 2.3%. Median two-bedrooms there cost $1,030, while one-bedrooms go for $840.
Sugar Land has the most expensive rents of the largest cities in the Houston metro, with a two-bedroom median of $1,580; rents went down 0.1% over the past month but rose 1.4% over the past year.
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