Active listings of single-family rentals hit a record-high in Houston in October, according to the latest report from the Houston Association of REALTORS®.

Fueled by a 20% year-over-year bump in new listings, SFR inventory reached 3,725 units — a 9% annual increase. Meanwhile, prices stayed statistically flat for the fourth consecutive month, with an average lease price of $2,262. That’s the lowest price since February, when the typical monthly rent was $2,243.

“We’re seeing record-high inventory, steady pricing and strong demand, which are all signs of a healthy rental market in Houston,” HAR Chair Shae Cottar said in a press release.

Amid the surge in available rental options, the typical SFR stayed on the market for 39 days — up 3 days from October 2024.

“With many economists expecting mortgage rates to improve next year, we may see more renters transition into homeownership,” Cottar continued. “People who have been waiting on the sidelines could find themselves in a better position to buy in the coming months.”