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. ...