Can You Really Get a One Bedroom In Houston for $1000?

I feel like nearly every other day, I see another article about the cost of living in Houston. More specifically, these articles are always discussing the average rental rate in Houston. The rates that are being published are discouraging for local residents and individuals relocating because they aren’t exactly representative of the living conditions most people prefer to live. I’m sure you’ve seen listings for $1000 online, but in person, they’re pretty depressing. As a Real Estate Professional that not only works, but also lives (and pays rent) in central Houston, I am going to provide a realistic cost of renting a home or apartment in central Houston, Texas. My market analysis shows that a one bedroom apartment rental is going to be on average $1518 and a privately owned rental will rent for $1667. For a two bedroom, expect to spend about $2166 if you choose an apartment and $2218 for a privately owned option. You’re probably thinking, “Woah there! No Way! I just read over at Chron.com the average rates are waaaay lower than that!”

The problem with the data being presented by local and national publications, as well as real estate sites such as Trulia and Zillow is that they’re including apples and oranges, rather than sorting the data and organizing it into truly useful information. I’m not going to tell you that you can’t find a one bedroom apartment somewhere in the Greater Houston Area for $1000. You absolutely can. The thing is, it is probably going to be in one of our lovely suburbs (Katy, Pearland, Sugarland, Kingwood, Spring, The Woodlands, Clear Lake or Pasadena. Any local will tell you that living in the suburbs adds an hour to your work commute. If it is inside the city of Houston, an apartment for $1000 will be substantially older (built during 1960-1980), will be found in a less desirable neighborhood such as the Galleria or Energy Corridor, and not include all appliances. A privately owned rental for $1000 will likely be without appliances, not have central AC and only offer street parking.

I conducted an analysis of apartment homes and privately owned rental listings currently on the market in order to put together an accurate representation of the cost to rent a desirable apartment or home in Houston. I calculated the average rates of 1 bedroom and 2 bedroom privately owned rental listings on the MLS, HAR.com, and also the average rates of 1 bedroom and 2 bedroom apartment communities listed on ULRproperties.com. I have researched one bedroom and two bedroom options of various sizes and styles, but they all offer the “must haves” most of my clients request. All of the homes currently on the market included in this study:

• Have Limited Access Gates
• Include All Appliances
• Offer On-Site, Off Street Parking
• Have Central Heating and Cooling
• Are located in Central Houston (Downtown, Midtown, Montrose, Upper Kirby/River Oaks, Memorial Heights/Washington Corridor and Greenway Plaza)