Houston Rental Market Sees Record Inventory and Steady Prices in November, Offering More Options for Renters
As 2025 comes to a close, renters across Houston are being met with a welcome change: more listings, more time to decide, and flat lease prices across the board.
According to the Houston Association of Realtors’ (HAR) November 2025 Rental Market Update, renters found significantly more options on the table last month, as single-family rental inventory surged to a record high and lease prices remained stable.
HAR reported a 10.2% year-over-year increase in single-family rental activity, with 3,459 homes leased compared to 3,139 in November 2024. At the same time, new listings rose 15.2%, adding 5,876 new rental homes to the market. That steady stream of inventory pushed the total number of active listings to 11,933, the most HAR has ever recorded—marking five consecutive months of record-setting inventory.
Meanwhile, lease prices remained mostly unchanged. The average lease price for a single-family home in November rose just 0.4% to $2,244, continuing a five-month streak of statistically flat pricing and representing the lowest average since February 2025.
“As the year moves into its final stretch, Houston renters are receiving a welcome gift in the form of more options and stable prices,” said Shae Cottar, HAR Chair and agent with LPT Realty. “As interest rates continue to ease, we may see more people feel confident about making the transition from renting to buying in the new year.”
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Townhomes and Condos Follow the Same Pattern
HAR’s data shows that townhomes and condominiums saw consistent renter demand, with 479 units leased, a 1.1% increase from November 2024. Lease prices for these properties held flat at $1,947. On the supply side, 919 new listingswere added—up 10.7% from the year before—bringing total active listings for townhomes and condos to 2,369, another all-time high.
As inventory expanded, renters took longer to commit. Average days on market (DOM) rose to 52 days for townhomes and condos (up from 43 a year ago) and to 43 days for single-family homes (up from 38).
Why It’s Happening: Local Trends Meet National Headwinds
The shift toward a more renter-friendly market in Houston mirrors larger national trends, as outlined in recent reports from RCLCO, a national real estate advisory firm.
According to RCLCO’s Q3 2025 outlook, multifamily vacancy rates nationally have risen to 9.8%, as new supply continues to outpace demand.
In the trailing four quarters, 570,000 new apartment units were delivered, while net absorption totaled just 520,000 units. That mismatch has placed downward pressure on rent growth and contributed to longer leasing timelines in many metros.
At the same time, mortgage rates—though slightly easing—remain a barrier for many would-be homebuyers. RCLCO’s October 2025 economic indicators show that the average 30-year mortgage rate hovered around 6.2%, limiting transitions from renting to buying for many households.
Further complicating affordability, the 2025 Home Attainability Index (published by RCLCO and ULI) shows that even in relatively affordable metros like Houston, it can still take up to 10 years for households earning 120% of the area median income to save for a down payment—extending the length of time many remain in the rental market.
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What This Means for Renters
With high inventory and flat prices, the local rental market has shifted in favor of tenants—at least for the time being. Renters are taking longer to choose, landlords are seeing longer listing durations, and more flexibility may be on the table during lease negotiations.
Looking ahead, Houston’s rental market seems to be settling into a more balanced rhythm. With more listings on the market and prices holding steady, renters have more breathing room and time to make decisions than they’ve had in recent years. As interest rates, affordability, and supply continue to shift, the rental landscape may keep evolving—but for now, renters in the Houston area are seeing a market that feels a lot more in their favor.
Tiffany Krenek has been on the My Neighborhood News team since August 2021. She is passionate about curating and sharing content that enriches the lives of our readers in a personal, meaningful way. A loving mother and wife, Tiffany and her family live in the West Houston/Cypress region.
