Apartments Under $500 in Houston, TX

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Apartments Under $500 in Houston, TX

Search and browse 11798 apartments under $500 available for rent in Houston, TX. With apartments that span the entire city, you will find an apartment in Houston for just the right price. During your search, sort your favorite apartments under $500 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Houston apartment before you know it.

July Rent Report

Welcome to the July 2020 Houston Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the July 2020 key findings and figures for the Houston rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Houston and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Houston rent prices in the chart below.

Monthly Rent Report

Houston Rent Prices Increase From June to July

Houston rent prices increased over the last month. From June to July, the city experienced a 0.51% increase for the price of a one-bedroom apartment. The rent price for a Houston one-bedroom apartments currently stands at $1,180.0.

When we take a look at the two-bedroom comparison from June to July, Houston experienced a 1.17% increase for the price of a two-bedroom apartment. The rent price for a Houston two-bedroom apartments currently stands at $1,467.0.

July Prices: Houston vs. Surrounding Areas

Rent Prices in Houston and Surrounding Areas

Rent prices have increased in Houston over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Houston suburb increased last month. On the other hand, 5 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Tomball, TX .

  • Rent decreased in Katy, TX, Spring, TX, Humble, TX, Baytown, TX, Sugar Land, TX.

  • 6 suburbs are currently priced lower than the city of Houston.

July 2020 Pricing Trends: Houston vs. National Comparisons

Houston Rent Prices More Affordable Than Major Cities

Rent growth in Houston over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Houston rent prices appear to be relatively affordable for local residents.

The price for a Houston one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's July 2020 National Apartment Report and data set here.

For more information about Houston and surrounding area rent prices, take a look at the complete data set below.

Data set for Houston and suburbs

1 BR July 1 BR M/M % Change 2 BR July 2 BR M/M % Change
Houston, TX $1,174.0 0.43% $1,450.0 1.47%
Katy, TX $1,057.0 -0.10% $1,417.0 0.71%
Spring, TX $1,164.0 -1.02% $1,455.0 -1.29%
Humble, TX $1,006.0 -2.80% $1,259.0 -3.15%
Baytown, TX $1,113.0 -2.88% $1,105.0 -2.04%
Tomball, TX $1,088.0 0.09% $1,347.0 0.37%
Sugar Land, TX $1,168.0 -1.18% $1,458.0 -0.55%


Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.