Average rent for Houston area posts a decline

The average rent for a Houston-area apartment fell in July as developers added units at the same time job growth has slowed, a new report shows.

The average rent of $1,082 in July was 2.2 percent lower than the average of $1,107 a year earlier, according to research firm Axiometrics. The price was slightly higher than June’s average of $1,080. In July 2015, annual rents rose 3.5 percent.

Rents fell in 12 of the 25 local regions tracked by Axiometrics. Renters in suburban areas on Houston’s north, southwest and east sides saw the biggest rent increases, according to the study.

Rents rose most in Northborough/Cranbrook (4.3 percent); Alief/ Kirkwood (4.1 percent); Baytown/San Jacinto River East (3.5 percent); Cloverleaf/Channelview (2.1 percent); and Pasadena/Deer Park (1.8 percent).