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Houston, Texas Rental Market Trends

Disclaimer:

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 Houston, Texas rental market.

Highlights

An apartment for rent in Houston, Texas typically goes for $1,334 per month, while a single-family home for rent in Houston, Texas has a monthly cost of around $2,069. Renter-occupied units make up 57% of the local housing market, while the rental vacancy rate in Houston, Texas is at 9.

Houston, Texas

Average Apartment Rent in February 2023

$1,334

Y-o-Y Change in Average
Apartment Rent

4.7%

Average Single-Family Rent in February 2023

$2,069

Compared to a year ago, Houston, Texas apartments have recorded a 4.7% rent increase.

Houston, Texas |Average apartment rent trend

Median Rent Mar 2020 Jul 2020 Dec 2020 Apr 2021 Aug 2021 Oct 2021 Feb 2022 Jun 2022 Oct 2022 Feb 2023
Houston $1,120 $1,111 $1,102 $1,127 $1,205 $1,233 $1,263 $1,304 $1,324 $1,334
National $1,405 $1,395 $1,399 $1,407 $1,490 $1,585 $1,624 $1,698 $1,715 $1,702
Houston
National
Mar 2020
$1,120
$1,405
Jul 2020
$1,111
$1,395
Dec 2020
$1,102
$1,399
Apr 2021
$1,127
$1,407
Aug 2021
$1,205
$1,490
Oct 2021
$1,233
$1,585
Feb 2022
$1,263
$1,624
Jun 2022
$1,304
$1,698
Oct 2022
$1,324
$1,715
Feb 2023
$1,334
$1,702
View as table View as graph
Access comprehensive real estate data and information on Yardi ® Matrix

Houston, Texas| Average apartment rent

Houston, Texas | Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 42.29%, apartments priced $1,000 - $1,500 represent the bulk of Houston, Texas rentals, while condos priced $500 - $700 hold the lowest share of the market – 2.43%.

Houston, Texas | Housing tenure**

Renter occupied housing units
499,608
Owner occupied housing units
375,219

Renters take up 57% of Houston, Texas real estate, occupying a total of 499,608 units, while homeowners live in 375,219 properties.

Median number of rooms of renter-occupied housing units**

3.7

Renter median household income**

$41,364

Average household size of renter-occupied housing units**

2.44

Rental vacancy rate**

9%

Houston, Texas | Renter-occupied housing units by no. of bedrooms**

No bedrooms 29,505
1 bed 196,960
2 beds 185,394
3 beds 71,270
4 beds 14,933

There are 196,960 rentals in Houston, Texas with 1 bed making up the highest share of the market, at 39%. Units with 4 beds, on the other hand, hold the lowest percentage (3%), amounting to 14,933 units. Overall, the median number of rooms in Houston, Texas homes for rent is 3.7.

Houston, Texas |Renter-occupied units by age of householder**

15 - 24 years 40,682
25 - 34 years 160,310
35 - 44 years 111,411
45 - 54 years 76,422
55 - 59 years 31,274
60 - 64 years 27,362
65 - 74 years 30,794
75 - 84 years 12,734
85 years and over 8,619

Most condos for rent in Houston, Texas are occupied by residents in the 25 - 34 years age group (32%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.

Houston, Texas | Renter-occupied housing units by family type**

Family households
258,425
Non-Family housesholds
241,183

Houston, Texas | Renter-occupied housing units by the presence of own children**

With related children of the householder under 18
161,679
No related children of the householder under 18
337,929

A total of 258,425 apartments for rent in Houston, Texas, or 52% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 161,679 units. All in all, the median size of a renter-occupied household in Houston, Texas is 2.44.

Houston, Texas | Renter-occupied housing units by educational attainment**

Less than high school graduate 93,529
High school graduate (including equivalency) 110,204
Some college or associate's degree 132,504
Bachelor's degree or higher 163,371

In terms of education, renters holding bachelor degrees or higher make up 33% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Houston, Texas.

Houston, Texas | Renter-occupied units by year structure built**

Built 2014 or later 34,654
Built 2010 - 2013 23,932
Built 2000 - 2009 67,226
Built 1990 - 1999 64,715
Built 1980 - 1989 83,430
Built 1970 - 1979 106,403
Built 1960 - 1969 53,338
Built 1950 - 1959 34,030
Built 1940 - 1949 15,795
Built 1939 or earlier 16,085

The highest share of Houston, Texas apartment rentals, namely 21% or 106,403 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (17%, 83,430 units), and the ones Built 2000 - 2009 (13%, 67,226 units).

Houston, Texas | Renter-occupied units by year householder moved in**

Moved in 2017 or later 58,420
Moved in 2015 to 2016 267,322
Moved in 2010 to 2014 113,508
Moved in 2000 to 2009 45,355
Moved in 1990 to 1999 9,357
Moved in 1989 or earlier 5,646

Median year renter moved into unit2016

Most Houston, Texas renters (54%) moved in 2015 to 2016, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Houston, Texas condos for rent is 2016.

Houston, Texas | Renter-occupied housing units by vehicles available**

No vehicle available 64,859
1 vehicle available 259,460
2 vehicles available 142,567
3 vehicles available 24,740
4 or more vehicles available 7,982

When it comes to transportation options, 52% of Houston, Texas renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 13% have No vehicle available.

Houston, Texas | Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 437,459
Car, truck, or van - carpooled 63,564
Public transportation (excluding taxicab) 29,967
Walked 15,066
Taxicab, motorcycle, bicycle, or other means 18,908
Worked at home 28,979

Houston, Texas |Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 880,662
Moved within same county 224,992
Moved from different county within same state 39,317
Moved from different state 28,272
Moved from abroad 25,168

Houston, 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 Houston, 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

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