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Houston Apartment Rents Increasing Slowly, Steadily

Houston apartment rents are increasing slowly, though they remain lower than they were a year ago according to information from RealPage’s Axiometrics. The average rent was $1,069 in July 2017, $20 below July 2016’s average. The year-over-year decline translated to -1.9% annual effective rent growth. Rolling two-year data did show rent growth recovering from its December 2016 low. Occupancy was 92.1%.

“July’s rent-growth stability was likely just a lull in the overall trend of strengthening, and likely due to increased completions of new units as the year progresses,” said Jay Denton, vice president of analytics for Axiometrics. “With job growth continuing to increase and generating apartment demand, we should begin seeing rent growth start to tick up above zero again in the coming months.”

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.