Demand remained high for single-family rentals (SFRs) in Houston last year as prospective homebuyers waited for “more favorable market conditions,” according to the Houston Association of REALTORS® (HAR).

SFR leases rose 3.3% year over year in 2024, with 44,551 total leases signed. Meanwhile, the total dollar volume of SFRs increased 6% to $103 million, the highest volume ever recorded in Houston.

“The rental market proved to be a stable force for Houston real estate in 2024 with consistent demand throughout the year,” HAR Chair Shae Cottar said in a press release. “There is a robust supply of rental properties to meet demand while those consumers wait for conditions that they consider more suitable to buy a home. I believe there will be continued strength in the rental sector this year.”

Townhome and condominium rentals also increased in 2024, with 7,460 leases signed, up 2% annually.