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.

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.