Baytown tops Texas for hikes in apartment rents


Apartment rents grew the most in Baytown among Texas cities for a one-year period through July, though it remained one of the lowest priced markets in the Houston area, a new report showed.

The median price of a two-bedroom unit in Baytown reached $850 in July, a 10.9 percent jump over July 2014, according to the July Texas Rental Price Monitor by Apartment List.

Apartment List, an apartment rental marketplace based in San Francisco, compiles the data from several hundred thousand listings it has on its site.

Demand for housing in Baytown and other communities on the east side of Houston is being driven by major expansions of petrochemical plants in the region.

Curiously, a one-bedroom unit in Baytown costs more than a two-bedroom unit. One-bedrooms rented for $1,150 in July after a 14.6 percent year-over-year rise, according to the report.

Alvin had the second highest rate hike in the Houston region, with rents rising 9.9 percent year-over-year to $830 for a two-bedroom unit. It was the only market tracked by Apartment List with two-bedroom rents lower than Baytown.

Statewide, Mansfield showed the second biggest one-year rate increase two-bedroom units going for $1,360 in July, representing a 10.3 percent rise.

Overall, rents in Texas are growing at a rate of 2.5 percent over the last year compared to 2.7 percent nationwide, based on two-bedroom units, according to the report.

Two-bedroom units in Texas averaged $1,020, while one-bedrooms units averaged $910. The most expensive city was Flower Mound with a two-bedroom going for $1,570.

Two-bedrooms rents in Houston rose 0.8 percent to an average of $1,330, while one-bedrooms units were up 1.6 percent to $1,080.

Below are July median rents for two-bedroom units and one-bedroom units by market with year-over-year percentage changes. They are listed in order of the highest percentage increase for two-bedrooms units.

Baytown: $850, up 10.9%; $1,150, up 14.6%
Alvin: $830, up 9.9%; $730, unchanged
Magnolia: $1,310, up 9.3%; $890, up 7.3%
Stafford: $1,260, up 8.6%; $1,060, up 4.0%
Pearland: $1,440, up 7.0%; $1,230, up 4.9%
League City: $1,180, up 6.8%; $930, up 7.1%
Pasadena: $1,240, up 4.4%; $1,030, up 1.4%
Webster: $980, up 2.8%; $880, up 5.6%
Atascocita: $1,260, up 2.5%; $1,010, up 12.5%
Conroe: $1,000, up 1.8%; $1,070, unchanged
Humble: $1,050, up 1.2%; $890, up 1.2%
Houston: $1,330, up 0.8%; $1,080, up 1.6%
Richmond: $1,230, up 0.6%; $950, up 1.4%
Katy: $1,370, unchanged; $1,000, down 1.3%
Galveston: $1,200, unchanged; $800, unchanged
Tomball: $1,160, unchanged; $1,030, up 10.4%
Spring: $960, down 1.2%; $950, up 0.5%
The Woodlands: $1,300, down 1.6%; $1,010, down 2.8%

TX-10-most-expensive2TX-10-fastest-growing2

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