Houston apartment rents dropped 3.7 percent in November from November of 2015, according to a new report by Axiometrics, a multifamily data firm.
Houston, which has an overbuilt apartment market, had an average monthly apartment rent of $1,053, down from $1,094 a year ago. By comparison, the national average rent is $1,278, Axiometrics reports.
The oversupply of apartments has been concentrated in the upscale Class A market, while vacancy is tight in the Class B and C sectors.
Read more...Houston Apartment Rents Dropped Almost 4 Percent in Last Year | Realty News Report