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.
Highlights
An apartment for rent in El Paso, Texas typically goes for $1,014 per month, while a single-family home for rent in El Paso, Texas has a monthly cost of around $1,776. Renter-occupied units make up 40% of the local housing market, while the rental vacancy rate in El Paso, Texas is at 9.8.
El Paso, Texas
Average Apartment Rent in October 2022
$1,014
Y-o-Y Change in Average
Apartment Rent
10.6%
Average Single-Family Rent in October 2022
$1,776
Compared to a year ago, El Paso, Texas apartments have recorded a 10.6% rent increase.
El Paso, Texas |Average apartment rent trend
El Paso, Texas| Average apartment rent
El Paso, Texas | Apartment rent ranges
At 49.72%, 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 – 0.05%.
El Paso, Texas | Housing tenure**
Renters take up 40% of El Paso, Texas real estate, occupying a total of 93,238 units, while homeowners live in 137,667 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$32,231
Average household size of renter-occupied housing units**
2.7
Rental vacancy rate**
9.8%
El Paso, Texas | Renter-occupied housing units by no. of bedrooms**
There are 32,654 rentals in El Paso, Texas with 2 beds making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 849 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 (29%), 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 56,589 apartments for rent in El Paso, Texas, or 61% of all rentals are family households. Additionally, 41% of rental homes include children under the age of 18 – that’s 37,893 units. All in all, the median size of a renter-occupied household in El Paso, Texas is 2.7.
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 21% 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 15,718 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (16%, 14,530 units), and the ones Built 1990 - 1999 (15%, 13,594 units).
El Paso, Texas | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most El Paso, Texas renters (54%) moved in 2015 to 2016, 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 2016.
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, 33% 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, 2020 American Community Survey 5-Year Estimates
