Apartments / Housing For Rent near Texas City, TX - craigslist (2024)

FAQs

Why is rent so high in Texas right now? ›

The trend in Texas is different from the national level where rent prices are barely coming down, partly due to how expensive buying a home has become. "Rents came up to this high level and pretty much hung out around there as the labor market has continued to be relatively strong," Jones told Newsweek.

According to a recent Census Bureau report on “predominately renter” cities, College Station is at number one nationally, with nearly 60 percent of its residents in rental housing. Killeen ranks third at 56 percent. “Texas is a young state in terms of demographics,” says Dr.

Texas rentals average $1,150 for a studio rental to $2,600 for a 4-bedroom rental. The median price of all currently available listings is $2,100, or roughly $1 per square feet. For the apartment units and housing in August 2024, median rents have fallen substantiallyover the last year.

There is not a statewide law that places limits on how much a landlord can increase the rent when a lease is renewed. In fact, Texas law only allows cities to establish local rent control ordinances in certain cases.

Nearly a quarter of the state's 6.9 million homeowner households spend too much on housing, according to Harvard's analysis. The state's high housing costs and a shortage of housing affordable to the poorest Texans fueled a 12% increase in homelessness last year, according to federal estimates.

In fact, an individual is going to need about $100,000 to live comfortably on their own, while families of four need about $224,000. Unfortunately, Texans' median annual salary doesn't quite reach the $75,000 needed for the single person.

State sales tax in Texas is 6.2%. The average rent for an 823-square-foot apartment is $1,100 monthly.

Spending around 30% of your income on rent is the golden rule when you're trying to figure out how much you can afford to pay. Spending 30% of your income on rent can help you reach a healthy balance between comfort and affordability.

Why are housing prices so high in Texas? ›

Government regulation plays a role as well. According to the Texas Public Policy Foundation, many Texas cities have reacted to rapid growth by enacting strict zoning codes — ordinances controlling land use and construction — that remove tracts of land from development, driving up demand and prices.

In the Lone Star State, there aren't rent increase laws on how much a landlord can raise the rent when it's time to renew a lease. Only a handful of cities can create reforms on rent hikes only if a disaster is declared and the city sees the need for emergency housing.

It's primarily because either demand is down or supply is up, or in some cases both. So in some places there are some of the higher income renters who have been able to move into the homeownership market. So there's a little bit less pressure and demand on the rental market in that community.

One of the most significant financial advantages of living in Texas is the absence of state income tax. This policy leaves more money in the pockets of residents, increasing disposable income and contributing to an overall lower cost of living.