Melissa, 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 Melissa, Texas rental market.
Melissa, Texas
Average Apartment Rent
$1,835
Y-o-Y Change in Average
Apartment Rent
40.7%
As of November 2024
Compared to a year ago, Melissa, Texas apartments have recorded a 40.7% rent increase.
Melissa, Texas Average apartment rent trend
Melissa, Texas Average Apartment Rent
Melissa, Texas Apartment rent ranges
At 47.75%, apartments priced $1,500 - $2,000 represent the bulk of Melissa, Texas rentals, while condos priced Over $2,000 hold the lowest share of the market – 21.53%.
Melissa, Texas Housing tenure**
Renters take up 10% of Melissa, Texas real estate, occupying a total of 485 units, while homeowners live in 4,330 properties.
Median number of rooms of renter-occupied housing units**
6.8
Average household size of renter-occupied housing units**
3.54
Rental vacancy rate**
13.1%
Melissa, Texas Renter-occupied housing units by no. of bedrooms**
There are 205 rentals in Melissa, Texas with 4 beds making up the highest share of the market, at 42%. Units with 2 beds, on the other hand, hold the lowest percentage (4%), amounting to 21 units. Overall, the median number of rooms in Melissa, Texas homes for rent is 6.8.
Melissa, Texas Renter-occupied units by age of householder**
Most condos for rent in Melissa, Texas are occupied by residents in the 35 - 44 years age group (35%), followed by those in the 45 - 54 years age group (26%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 2%.
Melissa, Texas Renter-occupied housing units by family type**
Melissa, Texas Renter-occupied housing units by the presence of own children**
A total of 423 apartments for rent in Melissa, Texas, or 87% of all rentals are family households. Additionally, 70% of rental homes include children under the age of 18 – that’s 338 units. All in all, the median size of a renter-occupied household in Melissa, Texas is 3.54.
Melissa, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 31% of the rental market. In contrast, residents with less than a high school degree reside in 15% of the homes for rent in Melissa, Texas.
Melissa, Texas Renter-occupied units by year structure built**
The highest share of Melissa, Texas apartment rentals, namely 76% or 368 units, were Built 2010 - 2019, followed by those Built 2020 or later (13%, 62 units), and the ones Built 2000 - 2009 (8%, 40 units).
Melissa, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2021
Most Melissa, Texas renters (45%) moved in 2021 or later, while only 13% of them moved in 2010 to 2017. Overall, the median year renters have occupied their Melissa, Texas condos for rent is 2021.
Melissa, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Melissa, Texas renters have 1 vehicle available per household, 37% of them have 3 or more vehicles available, and 18% have 2 vehicles available.
Melissa, Texas Means of transportation to work of householders living in renter-occupied housing units**
Melissa, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Melissa, 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
