The figures vary, but the bottom line remains the same: Most renters in Houston have seen their rents jump from last year. Where's that Rent Is Too Damn High Party guy when we need him?
Rents increased 16.8 percent over last year, according to Fortune's list of the ten cities with highest increases, where the Bayou City takes top prize. The list claims that Houston has a median monthly rent of $1,270.50, with a 3 percent vacancy rate. (Oakland, the second city on the list, saw an 11.6 percent increase in rent.)
According to a September Chronicle article that cites research firm Apartment Data Services, rents jumped 5.3 percent over the year. The firm calculated the average rent to be $875 a month. (Rents for upscale properties jumped 9.4 percent, according the story.)
In 2013, 11,000 new apartments will open in Houston, according to the story; the national average is 12,000.
This is one of the few times Hair Balls is grateful to live in a remote, boarded-up crack house with tinfoil over the windows, although even that has seen an increase -- now we and our 17 roommates have to pay an extra quarter apiece!
Keep the Houston Press Free... Since we started the Houston Press, it has been defined as the free, independent voice of Houston, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Houston with no paywalls.