June 2017 Humble Rent Report

Welcome to the June 2017 Humble Rent Report. Humble rents remained steady over the past month. In this report, we'll evaluate trends in the Humble rental market, including comparisons to cities throughout the metro, state, and nation.

Humble rent trends were flat over the past month

Humble rents have remained steady over the past month, but they have declined 0.1% year-over-year. Currently, median rents in Humble stand at $990 for a one-bedroom apartment and $1,210 for a two-bedroom. Humble's year-over-year rent growth lags the state average of 1.1%, as well as the national average of 2.6%.

Rents falling across the Houston Metro

Here's a look at how rents compare across some of the largest cities in the metro, as well as the rest of the state.

Baytown has seen the fastest rent growth in the metro, with a year-over-year increase of 4.8%. The median two-bedroom there costs $1,030, while one-bedrooms go for $840.
Over the past year, Spring has seen the biggest rent drop in the metro, with decline of 3.4%. Median two-bedrooms there cost $1,310, while one-bedrooms go for $1,070.
Pasadena has the least expensive rents in the Houston metro, with a two-bedroom median of $960; rents grew 0.2% over the past month but fell 0.4% over the past year.
Sugar Land has the most expensive rents of the largest cities in the Houston metro, with a two-bedroom median of $1,550; rents rose 0.2% over the past year but remained flat month-over-month.
Looking throughout the rest of the state, Plano is the most expensive of all Texas' major cities outside the Houston metro, with a median two-bedroom rent of $1,400; of the 10 largest cities in the state that we have data for, Corpus Christi, where a two-bedroom goes for $1,000, is the only major city besides Humble to see rents fall year-over-year (-2.7%).
Arlington, Fort Worth, and Garland have all experienced year-over-year growth above the state average (8.2%, 4.5%, and 4.4%, respectively).

Humble rents more affordable than many large cities nationwide

As rents have fallen in Humble, many large cities nationwide have seen prices increase, in some cases substantially. Humble is still more affordable than most large cities across the country.

Humble's median two-bedroom rent of $1,210 is above the national average of $1,150. Nationwide, rents have grown by 2.6% over the past year.
While rents in Humble fell over the past year, many cities nationwide saw increases, including Seattle (+5.2%), Phoenix (+4.9%), and Los Angeles (+4.5%).
Renters will find more reasonable prices in Humble than most large cities. Comparably, San Francisco has a median 2BR rent of $3,020, which is nearly two-and-a-half times the price in Humble.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

City	Median 1BR price	Median 2BR price	M/M price change	Y/Y price change
Houston	$810	$990	0.0%	-2.8%
Pasadena	$780	$960	0.2%	-0.4%
Pearland	$1,080	$1,320	0.3%	-2.9%
League City	$1,190	$1,450	0.6%	-0.1%
Sugar Land	$1,270	$1,550	-0.1%	0.2%
Baytown	$840	$1,030		4.8%
Conroe	$850	$1,040	0.2%	-1.9%
Spring	$1,070	$1,310	0.6%	-3.4%
Rosenberg	$830	$1,020	0.7%	0.1%
Stafford	$960	$1,180	-0.2%	-3.2%
Humble	$990	$1,210	-0.1%	-0.1%
Katy	$1,110	$1,360	-0.2%	-1.5%
Richmond	$970	$1,180	0.4%	0.1%
Tomball	$930	$1,130	0.7%	-3.1%
Webster	$930	$1,140	-0.1%	-1.5%
Magnolia	$870	$1,070	0.4%	-4.4%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.

Humble, TX: 117 apartments available for rent

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