El Paso city, 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 city, Texas rental market.
Highlights
An apartment for rent in El Paso city, Texas typically goes for $790 per month, while a single-family home for rent in El Paso city, Texas has a monthly cost of around $1,341. Renter-occupied units make up 41% of the local housing market, while the rental vacancy rate in El Paso city, Texas is at 10.4.
El Paso city, Texas
Average Apartment Rent
$790
Y-o-Y Change in Apartment Rent
2.6%
Average Single Family Rent
$1,341
Compared to a year ago, El Paso city, Texas apartments have recorded a 2.6% rent increase.
El Paso city, Texas |Median apartment rent trend
El Paso city, Texas| Average apartment rent by city
El Paso city, Texas | Apartment rent ranges
At 49.87%, apartments priced $700 - $1000 represent the bulk of El Paso city, Texas rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 0.16%.
El Paso city, Texas | Housing tenure
Renters take up 41% of El Paso city, Texas real estate, occupying a total of 92,037 units, while homeowners live in 133,227 properties.
Median number of rooms of renter-occupied housing units
4.2
Renter Median household income
$30,182
Average household size of renter occupied-housing units
2.74
Rental vacancy rate
10.4%
El Paso city, Texas | Renter-occupied housing units by no. of bedrooms
There are 32,946 rentals in El Paso city, 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 512 units. Overall, the median number of rooms in El Paso city, Texas homes for rent is 4.2.
El Paso city, Texas |Renter-occupied units by age of householder
Most condos for rent in El Paso city, Texas are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (20%). 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 city, Texas | Renter-occupied housing units by family type
El Paso city, Texas | Renter-occupied housing units by the presence of own children
A total of 57,175 apartments for rent in El Paso city, Texas, or 62% of all rentals are family households. Additionally, 40% of rental homes include children under the age of 18 – that’s 37,096 units. All in all, the median size of a renter-occupied household in El Paso city, Texas is 2.74.
El Paso city, Texas | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 19% of the rental market. In contrast, residents with less than a high school degree reside in 23% of the homes for rent in El Paso city, Texas.
El Paso city, Texas | Renter-occupied units by year structure built
The highest share of El Paso city, Texas apartment rentals, namely 18% or 16,646 units, were built 1970 - 1979, followed by those built 1990 - 1999 (14%, 12,886 units), and the ones built 2000 - 2009 (14%, 12,828 units).
El Paso city, Texas | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most El Paso city, Texas renters (42%) moved in 2010 to 2014, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their El Paso city, Texas condos for rent is 2014.
El Paso city, Texas | Renter-occupied housing units by vehicles available
When it comes to transportation options, 47% of El Paso city, Texas renters have 1 vehicle available per household, 32% of them have 2 vehicles available, and 14% have no vehicle available.
El Paso city, Texas | Means of transportation to work of householders living in renter-occupied housing units
El Paso city, Texas |Geographical mobility in the past year for householders living in renter-occupies housing units
El Paso city, 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 city, 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.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
