El Paso, Texas Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the El Paso, Texas rental market.
El Paso, Texas
Average Apartment Rent
$1,081
Y-o-Y Change in Average
Apartment Rent
1.8%
As of November 2024
Compared to a year ago, El Paso, Texas apartments have recorded a 1.8% rent increase.
El Paso, Texas Average apartment rent trend
El Paso, Texas Average Apartment Rent
El Paso, Texas Apartment rent ranges
At 46.03%, apartments priced $700 - $1000 represent the bulk of El Paso, Texas rentals, while condos priced Over $2,000 hold the lowest share of the market – 0.24%.
El Paso, Texas Housing tenure**
Renters take up 41% of El Paso, Texas real estate, occupying a total of 97,067 units, while homeowners live in 142,557 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$37,047
Average household size of renter-occupied housing units**
2.59
Rental vacancy rate**
7.4%
El Paso, Texas Renter-occupied housing units by no. of bedrooms**
There are 34,963 rentals in El Paso, Texas with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 867 units. Overall, the median number of rooms in El Paso, Texas homes for rent is 4.2.
El Paso, Texas Renter-occupied units by age of householder**
Most condos for rent in El Paso, Texas are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
El Paso, Texas Renter-occupied housing units by family type**
El Paso, Texas Renter-occupied housing units by the presence of own children**
A total of 58,387 apartments for rent in El Paso, Texas, or 60% of all rentals are family households. Additionally, 39% of rental homes include children under the age of 18 – that’s 38,293 units. All in all, the median size of a renter-occupied household in El Paso, Texas is 2.59.
El Paso, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 21% of the rental market. In contrast, residents with less than a high school degree reside in 20% of the homes for rent in El Paso, Texas.
El Paso, Texas Renter-occupied units by year structure built**
The highest share of El Paso, Texas apartment rentals, namely 17% or 16,245 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (16%, 15,763 units), and the ones Built 2010 - 2019 (13%, 12,548 units).
El Paso, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most El Paso, Texas renters (42%) moved in 2018 to 2020, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their El Paso, Texas condos for rent is 2018.
El Paso, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of El Paso, Texas renters have 1 vehicle available per household, 32% of them have 2 vehicles available, and 13% have No vehicle available.
El Paso, Texas Means of transportation to work of householders living in renter-occupied housing units**
El Paso, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
El Paso, Texas Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all El Paso, Texas apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
