Any one of us who has been on a hunt for an apartment knows that the price of the monthly rent is the most important factor to consider. Of course, safety, access to services and amenities, infrastructure, distance to work, general atmosphere, etc. are all important indicators which factor in our decision to a certain degree.
However, at the end of the day, it all boils down to how much we can afford to pay in monthly rent and what apartment – and where – this money can get us.
Rent is particularly important when looking for an apartment to rent in the major cities across the U.S. where oftentimes you might need to pay thousands of dollars each and every month in order to afford housing in a certain neighborhood. This is no different in Houston.
Being the fourth most populous city nationwide and enjoying a stable economy with a strong job market pushes rental demand in Space City – especially from young professionals and small families – up. In the coming years the Houston apartment rental market is expected to continue being strong, and rents are expected to continue rising, which means that you should hurry up and find your affordable rental home now.
How Much Is Rent in Houston at the Moment?
The quick answer to this question is that the average monthly rent for an apartment in Houston in the summer of 2018, according to data from Mashvisor, an advanced real estate data analytics tool, is $1,490. However, as anyone even remotely related to the real estate renting industry – whether an investor, a landlord, or a renter – knows, location is a major factor which determines the price of rent across a city. Rental rates can vary drastically from one neighborhood to another. For example, in Houston you can rent an apartment for as little as $750, on average, in the Binz neighborhood or for as much as $2,480, on average, in the Downtown area. This is a difference of over three-fold, which means that you should focus your apartment search carefully and precisely according to your budget in order to find an affordable apartment suiting your taste before someone else snatches it first.
To help you in your apartment quest, next we provide you with the Houston neighborhoods where you can find an apartment to rent for under $2,000 per month.
The Most Affordable Neighborhoods in Houston to Rent
So, let’s have a look at the neighborhoods around Houston where the average rent for an apartment is less than $2,000 a month, according to data from Mashvisor’s rental property calculator:
Houston Neighborhoods with the Lowest Rental Rates for an Apartment
|Neighborhood||Monthly Rent for an Apartment|
|11||Greenway-Upper Kirby Area||$1,430|
|15||Washington Avenue Coalition-Memorial Park||$1,960|
Data Source: Mashvisor, August 2018
If you are searching for an affordable apartment to rent in Houston, now you know where to look. Above we presented the 16 most affordable areas to rent an apartment in Space City, those where you will pay an average of less than $2,000 for rent per month. This great variety of affordable neighborhoods will allow you to locate the one which is closest to your job, most accessible by transportation, and with the amenities which you need.