Average single-family lease prices in Houston reach all-time high in July

The average price of a single-family lease in Houston reached a record-high for the second consecutive month, increasing 2.6% from $2,366 to $2,428 year over year in July, according to the Houston Association of Realtors’ July rental market update released Aug. 21.

Also of note

According to the release:

• New listings in Houston increased 5.1% year-over-year in July.
• Days on market—the average number of days it took to lease a home—increased from 28 days to 31 days year-over-year in July.
• The average lease price of townhomes and condominiums increased 4.3% from $1,960 in July 2023 to $2,045 in July 2024.

What they’re saying

“The market continues to experience robust activity with consistent demand,” HAR Chair Thomas Mouton said in the release. “There appears to be an adequate supply of rental properties throughout the Houston area to meet that demand."