• The Woodlands has seen a slight uptick in its rental home inventory.
  • The average rent at single-family home is $1,688.
  • Demand for single-family rentals in Houston rose nearly 15 percent year over year in February.

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by CareyBot

Recent data shows the demand for rental homes in Houston is growing. According to the Houston Association of Realtors, in February leases of single-family homes rose by 14.6 percent year-over-year in the metro. At the same time, average rents at single-family homes only rose by 0.6 percent to $1,688. Increased demand for townhomes and condos is also occurring, as the volume of these leases rose by 10.3 percent year-over-year. As of February, rents for these homes averaged $1,545. HomeUnion recently cited Houston as the fifth best market nationally for single-family rental investors. According to the source, single-family investors, typically cash buyers, are purchasing homes in the metro at 6.1 percent cap rates. These buyers view single-family homes as a stable inve...