Available rental properties rose in March, providing a bountiful supply of single-family homes for Houston renters.

According to the Houston Association of REALTORS®’ (HAR) latest Rental Market Update, new listings of single-family rentals rose 8.9% year over year, with 5,097 new listings added to the market.

Meanwhile, leased listings increased by 4.8% year over year, with 3,989 leases signed, while the average lease price rose 5.3% to $2,262 (up from $2,149 in March 2023).

“Spring is traditionally a busy time for the housing market, and this year, the Houston rental market is no exception,” HAR Chair Thomas Mouton said in the report. “Strong demand and a dynamic market offer opportunities for both renters and landlords, with rising rents balanced by an influx of new listings. Rentals remain a desirable choice for consumers who are not ready to buy a home.”

Townhouse and condominium rental activity also increased in March — new listings rose 20.8%, while leased listings rose 4.2% and the average lease price increased 4% to $1,933.