Apartment List’s March 2016 Rent Report for Houston is here! With rents rising across the country, we took a look at some of the largest cities in the U.S. to see how they fare.
The result? Houston rents are doing relatively well, with a slower growth rate than Texas (and the nation) overall.
Sugar Land is the 2nd most expensive city in the Houston metro
With two-bedroom units averaging rents of $1,440, Sugar Land is the second most expensive city in the metro, just behind Houston (average rent $1,540 for a two-bedroom).
Rent prices in Sugar Land have decreased by 7.2 percent in the past year, despite its reign as one of the most expensive cities in the area.
League City experienced fastest rent growth
League City’s rents grew by 13 percent over the past year, faster than any other city in the Houston metro. Over the past month, League City’s rents have experienced a 3.8 percent increase, leading them to their current rent average of $1,310 for a two-bedroom.
Downtown Houston is the metro’s most expensive neighborhood
At an average rent of $2,430 for a two-bedroom, Downtown Houston is the metro’s most expensive neighborhood. (It also experienced the fastest rent growth in the metro, at 3.5 percent rent growth over the past year.)
Washington Ave – Memorial Park follows close behind at $2,230, and Westchase is the 10th most expensive neighborhood at $1,210.
For methodology and data for other cities and neighborhoods in the Houston metro, see Apartment List’s City Report.
Yuki Graviet Knapp is a Content Marketing Associate with the Growth Team at Apartment List and is a resident of the Bay Area.