Apartment rents in Texas increasing year by year, but by how much? New study explains
(Mary Stringini)
HOUSTON - Things are getting expensive all around, if you haven't already noticed, and a new study showed apartments in Texas have actually been increasing year by year.
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Research conducted by Rent.com showed monthly average prices for 3-bedroom apartments across Texas have grown, but some major cities are faring better than others.
For example, Dallas is trending 41% higher year over year with a 3-bedroom apartment averaging at $2,343 a month. Austin, is trending 21% higher with 3-bedroom apartments rending for $2,062 per month.
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San Antonio and Houston, meanwhile, are averaging at 7% and 9% higher, respectively.
In fact, the average 1-bedroom apartment in Houston, according to Rent.com, is $1,277 but $1,314 for a studio. You won't find that rate at any of the more affluent neighborhoods in the Greater Houston area, however, as the study shows the cheapest average price for a 1-bedroom is $1,523 in Midtown and a studio is $1,389.
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It's not impossible to find an apartment for less than the average 1-bedroom in Houston, but the rates differ from different parts of the city. Take for instance Westside Houston, which averages at $1,148 per month for a 1-bedroom, whereas it costs $954 per month in Northwest Houston and $970 per month in Southwest Houston.
The cheapest average rent for a 1-bedroom is in Sunnyside, which is $766 a month, but at the Energy Corridor is where the report shows $999 as the average for a 1-bedroom.
For the full report and a more in-depth look at other neighborhoods in the Greater Houston area, click here.