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Leased listings for single-family rentals climbed 4.2% year over year in January in Houston despite the winter storm, according to the Houston Association of Realtors January 2025 Rental Market Update released Feb. 19.
The details
The average lease price increased 2.6% to $2,283, according to the report. New listings for single-family rental homes saw a 13.9% jump, with 5,573 properties added to the Multiple Listing Service.
Also of note
Townhome and condominium rentals faced a slow start to 2025, dropping 17.7% year over year, marking the third consecutive month of declining activity. In total, 474 townhomes and condos were leased in January, compared to 576 during the same period last year, according to the report.
The average lease price for townhomes and condos fell 2.6% to $1,864, according to the report. New listings also decreased by 12.4%, with 927 properties added to the MLS, down from 1,058 in January 2024. The average days on the market for these properties rose to 54 days, up from 46 days last year.
What they’re saying
“The strong performance of single-family rentals, even amid winter weather and economic fluctuations, is a clear indicator of sustained demand and potential for future growth in Houston’s rental market this year,” HAR Chair Shae Cottar with LPT Realty said via the report.
