Houston rental market experienced record year amid record home prices, mortgages

“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%.