By Rebecca Deurlein
Fun fact: Most people who live in Houston rent—about 58% of Houstonians, according to Rent Café Relocity.
The fantastic news is that after a period of rapidly rising rental costs, the market has stabilized, and some rents have actually dropped in the last year. That’s because Houston has seen record-high apartment completions and an increase in multifamily homes, giving renters room to negotiate their rate or ask for additional amenities.
Houston has always enjoyed lower-than-average costs of living in comparison to other major cities. You can get much more for your money here than in New York City, Los Angeles, Chicago, and even smaller cities in Texas like Dallas and Austin. According to Landing, H-Town’s average rent is 27% lower than the national average.
The average rent in Houston is around $1,200 per month. If you follow the 30% rule that states that your rent should not exceed 30% of your gross monthly income, this means you’ll need to earn $4,000 a month or $48,000 a year to afford an average apartment in Houston.
Let’s look at what $1,200 rent a month will get you in Houston right now.