Apartment rents reached record highs nationally, and continue to climb in every major Texas city, according to Redfin.Finding a new apartment in Houston is more competitive now than it was last year.the apartment market in Houston is 46 percent more competitive than last year, putting apartment seekers in a tight spot at the start of 2023.
A majority of renters renewed their leases, putting the total occupancy rate at 92.3 percent. Additionally, Houston didn't increase its apartment stock nearly as much as other Texas cities. For example, Houston saw a .56 percent increase, while Austin had a 1.33 percent increase in new units. Houston saw the 20th biggest change in its competitive score in the U.S., being beat out by only one other Texas city, Dallas at No. 18. RentCafe's competitive score was calculated by scoring the average vacant days, occupied apartments, prospective renters, lease renewal rate and share of new apartments.
Still Houston falls last in its competitive score in Texas, being beat out by Dallas, Fort Worth, San Antonio and Austin, respectively. Nationally, the most competitive markets were North Jersey, which includes Newark and Jersey City, N.J.; Miami-Dade County, Fla.; and Harrisburg, Pa.
What is, if anything is being done about apartment or rental properties, raising rent (at resigning lease time) for senior citizens, when everything is going up except our pay. It’s pay the increase or homeless with a job😭😭😭🤷🏾♀️
Yeah cus the lower & now the middle class can’t afford to buy a house!!