It’s a little bit easier to score a Houston apartment than it was last year

by Emily Marek

It’s easier to secure a rental unit in Houston than in many other large cities in the United States — according to a recent report from RentCafe, the metro is less competitive than the average large city.

The rental analysis company ranked the largest metros in the country based on vacancy, occupancy, prospective renters, lease renewal rates and new apartment construction. Houston earned a competitiveness score of 40 — well below the national average of 60.

It’s also presently easier to find an apartment in Houston than it was a year ago. Occupancy has fallen to 92%, down 1% year over year and down 2% from the national average of 94%. There’s also only eight prospective renters vying for each vacant unit. For comparison, 24 renters compete for one apartment in Miami-Dade County, Florida (which earned a competitiveness score of 120).

The typical apartment is leased in 43 days in Houston — a year ago, apartments were leased within 38 days. The renewal rate has also decreased, with only 58.5% of renters renewing their leases into 2023.

Despite this, the Houston rental market remains somewhat competitive due to decreased new apartment construction. Only 0.26% of rental inventory was made up of new apartments at the start of 2023, compared to 0.57% at the start of 2022.

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