Reasons to Rent
Posted by Government Affairs
on Thursday, April 26, 2012
With nearly half of Houston residents as renters, it’s no surprise the city offers affordable renting options!
The Federal Reserve Bank of Dallas recently released the “Texas Housing and Mortgage Update” illustrating the gap between how much house the median area income can afford and the median house price available. While still the lowest among four Texas Metropolitan cities, Houston’s gap remains at $11,500.
On the upside, more than 200,000 Houston area rental units cost an average of $757 per month, or $ .87 per square feet. Some advantages of renting include:
• Location and accessibility: A great benefit is the added convenience that communities tend to be located close to home, school, work and shopping. This helps renters save time and can cut down on daily commuting.
• Low maintenance: Need a light bulb changed? Did your air conditioner go out? With on-site maintenance, renters can save money and worry less about unexpected repairs.
• Amenities: Many apartment communities offer excellent amenities and services such as fitness rooms, pools, clubhouses and business centers. Today, new complexes are larger and can include attached garages, alarm systems and updated countertops and appliances.