We hear a lot about the explosion in housing costs in Houston – and now rental prices are on the rise as well. The continued rise in house prices in the area has pushed potential buyers. John boriac with Texas Apartment Association and Veritas Equity Management Explain. âYou have people who would have bought a house; do not find any; frustrated with the market so they chose to rent. This puts more pressure on the demand for rentals. Â»The increase in rental demand leads to price changes.
Rent … or buy a home
Boriack says, âRents have gone up and will continue to rise. According to Apartment Data Services, rental prices have increased 12.8% in the past 12 months. inflated prices. In the Houston area, potential buyers give up and find a new place to rent. Young professionals are particularly interested in modern equipment. Boriack said our area has a lot of rental options. âThe great thing about Houston is that you can always find affordable housing in your price range somewhere. Even Texas cities like Austin — you can hardly find anything to rent … they are prohibitive. “
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