Slow summer job growth stalling Houston rent prices

  • Yardi reported national average rent prices increased 5 percent in August compared with the same month last year.
  • In June 2016, year-over-year job growth was just 0.3 percent in the Houston metro.
  • Houston rent growth is mostly concentrated in the high end of the market.

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The multifamily rental market is starting to reflect the introduction of fall, cooling off but still growing. According to the Yardi Matrix Monthly report, which is a monthly measurement of 120 U.S. markets, August marked the eighth consecutive month of record rent prices.