Houston, TX is a great place for affordable rent-to-own homes! With a median household income of over $52,000 and a median rent of $1,041, the Houston rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth. With it, aggressive competition for home purchases. Houston is one of the most populated cities in the US, with over 2 million residents and growing, meaning higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers! You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience.
The average rent in Houston is $1,172 which represents a 5.0% increase year over year change.
If you’re looking for the most affordable neighborhoods for reasonable rental prices the areas of South Park, Golfcrest-Bellfort-Reveille, East Little York, Houston Suburban Heights and Greater Fifth Ward all have rents below the average of $1,172/month.
Houston has a competitively priced rental market which is 23.8% below the Austin average rental price of $1,539, 12.4% below the Dallas average rental price of $1,338 and 4.9% more than the average rental price in San Antonio.
Houston has an average of 55.7 crimes per 1,000 residents and is safer than 3% of U.S. cities.