The total dollar volume of single-family rentals, or the sum of all prices of rented homes, rose 6% from 2023 to roughly $103 million, according to the report, which is the highest ever recorded in the Greater Houston area.
The details
Single-family home rentals in 2024 totaled 44,551, a 3.3% increase from 2023, according to the report.
“The rental market proved to be a stable force for Houston real estate in 2024 with consistent demand throughout the year,” HAR Chair Shae Cottar said via news release. “There is a robust supply of rental properties to meet demand while those consumers wait for conditions that they consider more suitable to buy a home. I believe there will be continued strength in the rental sector this year.”
According to the report, new listings increased 5.3% year over year in December, while the average single-family lease price increased 2%.
