Richland Hills, 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 Richland Hills, Texas rental market.
Richland Hills, Texas
Average Apartment Rent
$1,337
Y-o-Y Change in Average
Apartment Rent
1.5%
As of November 2024
Compared to a year ago, Richland Hills, Texas apartments have recorded a 1.5% rent increase.
Richland Hills, Texas Average apartment rent trend
Richland Hills, Texas Average Apartment Rent
Richland Hills, Texas Apartment rent ranges
At 70.89%, apartments priced $1,000 - $1,500 represent the bulk of Richland Hills, Texas rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 7.12%.
Richland Hills, Texas Housing tenure**
Renters take up 32% of Richland Hills, Texas real estate, occupying a total of 976 units, while homeowners live in 2,049 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$55,556
Average household size of renter-occupied housing units**
2.85
Rental vacancy rate**
23.8%
Richland Hills, Texas Renter-occupied housing units by no. of bedrooms**
There are 359 rentals in Richland Hills, Texas with 2 beds making up the highest share of the market, at 37%. Units with 4 beds, on the other hand, hold the lowest percentage (1%), amounting to 10 units. Overall, the median number of rooms in Richland Hills, Texas homes for rent is 4.5.
Richland Hills, Texas Renter-occupied units by age of householder**
Most condos for rent in Richland Hills, Texas are occupied by residents in the 35 - 44 years age group (25%), followed by those in the 65 - 74 years age group (19%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 5%.
Richland Hills, Texas Renter-occupied housing units by family type**
Richland Hills, Texas Renter-occupied housing units by the presence of own children**
A total of 629 apartments for rent in Richland Hills, Texas, or 64% of all rentals are family households. Additionally, 24% of rental homes include children under the age of 18 – that’s 234 units. All in all, the median size of a renter-occupied household in Richland Hills, Texas is 2.85.
Richland Hills, Texas Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 14% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in Richland Hills, Texas.
Richland Hills, Texas Renter-occupied units by year structure built**
The highest share of Richland Hills, Texas apartment rentals, namely 31% or 302 units, were Built 1950 - 1959, followed by those Built 1980 - 1989 (21%, 202 units), and the ones Built 1960 - 1969 (19%, 185 units).
Richland Hills, Texas Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Richland Hills, Texas renters (44%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Richland Hills, Texas condos for rent is 2018.
Richland Hills, Texas Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Richland Hills, Texas renters have 1 vehicle available per household, 34% of them have 2 vehicles available, and 7% have No vehicle available.
Richland Hills, Texas Means of transportation to work of householders living in renter-occupied housing units**
Richland Hills, Texas Geographical mobility in the past year for householders living in renter-occupied housing units**
Richland Hills, 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 Richland Hills, 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
