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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