- The average rent for apartments in Houston decreased 1.1 percent over the past year, according to a new report from TransUnion.
- Houston’s average rent was $881 in the first quarter of 2012, down from $891 in the same quarter a year earlier.
- The average rent nationwide was $865 in the first quarter, up 4.4 percent from the $829 average recorded in 2011. That increase is not surprising given that vacancy rates reached their lowest level since 2001, TransUnion’s Mike Mauseth said in the company’s statement.
- However, the average rent declined in six of the 10 major markets that TransUnion analyzed for its report with the largest declines in Denver, Chicago and Los Angeles.
- Mauseth noted differences even in large metro areas situated relatively close to each other, as prices decreased in Houston and Los Angeles but increased in Dallas and San Diego.