Is Houston Apartment Inventory Increasing?

Want to rent an apartment in Houston? You’re not alone! Competition for apartments in Houston has been fierce in recent years, and with a shortage of homes for sale in the area currently, more people have become interested in testing the local apartment rental market. There certainly seem to be plenty of new buildings going up, but prices always seem to be increasing, too. It’s tough out there—leading many people to ask, “Is Houston’s apartment inventory increasing? Or shrinking?”

The answer to that question is complicated, unfortunately. There’s some good news and some bad news.

The Good News About Apartments in Houston

Let’s start with the good news! The availability of apartments for rent in Houston is improving. New buildings continue to open, and vacancy rates are finally starting to creep back up following the pandemic and the rise of inflation. If you’re looking for apartments for rent in Houston right now, you may find yourself with more options to choose from than if you looked six months ago. After a period of real estate insanity in the city, the market appears to be stabilizing. 

The best sign of this improvement for would-be renters? The return of apartment move-in specials! These incentives to rent today were completely gone from the Houston real estate market earlier this year. Now, some apartment buildings (especially larger or older complexes) once again offer some great move-in deals for new residents. It’s far from universal, but with the help of an experienced Houston Realtor®, you can shop around and potentially find a great move-in deal. 

The Bad News About Apartments in Houston

The bad news about apartment hunting in Houston right now is that prices are still relatively high. That’s due to the high demand for housing in the city. The simple fact is, a lot of people want to live in Houston. It’s one of the fastest-growing cities in North America, and there is competition for every apartment that hits the market. 

Currently, we’re seeing average rent prices that are as much as 50 percent higher than they were just a few years ago. No matter where in the city you prefer to live, you are guaranteed to encounter higher rent prices in Houston than in surrounding communities. It remains very much a landlord’s market right now. 

Fortunately, things are looking up. The rental market is already better now than it was several months ago. That trend is likely to continue as inventory increases, but don’t expect prices to substantially fall anytime soon. 

How to Find an Apartment in Houston

While it may have been possible to simply drive around a neighborhood you like, walk into an apartment complex, and find a unit for rent in years past, that’s a much more difficult prospect today. In order to find an apartment that meets your needs, it’s almost necessary to work with an experienced Houston Realtor® to help you look. 

At Angel Fultz Realty, we specialize in helping renters find great apartments in Houston that meet both their housing needs and their budgets. We have the resources and expertise to check with apartment complexes around town to find the best move-in specials and amenities. We can send you options that match your criteria and set up apartment showings on your schedule so that you can select the best apartment for you.

Are you ready to look for a new apartment in Houston? Contact us today to get started!