August leased listings, average lease price rises in Houston

Total leased listings in Houston increased 9.2% and the average lease price rose 2.2% year over year in August, according to the Houston Association of Realtors’ Rental Market update released Sept. 18.

The details

Leased listings rose from 4,089 to 4,462 year over year in August while the average lease price climbed to $2,397, according to the report.

Additionally, new listings increased 11.6% from August 2023, with 6,184 single-family rental properties added to the Multiple Listing Service, an online platform where licensed real estate professionals can list homes for sale or lease, according to the report.

Also of note

Listings of townhomes and condominiums had a 21.8% increase year over year with 1,273 new listings, according to the report.

What they’re saying

“The rental market has remained steadfast while other sectors of Houston’s housing market have experienced fluctuations,” HAR Chair Thomas Mouton said via news release. “We could see more renters interested in homeownership after the Federal Reserve’s expected rate cut on Wednesday."