Houston apartment rents dip in June

Photo: Nitya Capital

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Tthe 510-unit City West Apartments in Westchase is part of the Nitya Capital portfolio. 

Click through the following gallery to see winners of the 2017 Houston Apartment Association Honors Award.

Tthe 510-unit City West Apartments in Westchase is part of the Nitya Capital portfolio. 

Click through the following gallery to see winners of the 2017 Houston Apartment Association Honors Award.

Photo: Nitya Capital

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The pool at the 2929 Weslayan apartment tower.

The pool at the 2929 Weslayan apartment tower.

Photo: Houston Apartment Association

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The Rice recently underwent a major renovation. The historic property, originally built in 1913 as The Rice Hotel, was recognized with a Cornerstone winner of the Houston Apartment Association Honors Awards 2017. The property is managed by Greystar. less The Rice recently underwent a major renovation. The historic property, originally built in 1913 as The Rice Hotel, was recognized with a Cornerstone winner of the Houston Apartment Association Honors ... more Photo: Houston Apartment Association

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The pool at the Rice, a downtown apartment property managed by Greystar.

The pool at the Rice, a downtown apartment property managed by Greystar.

Photo: Houston Apartment Association

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A kitchen inside a unit in The Rice, a historic property in downtown Houston managed by Greystar.

A kitchen inside a unit in The Rice, a historic property in downtown Houston managed by Greystar.

Photo: Houston Apartment Association

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The club room inside The Rice. 

The club room inside The Rice. 

Photo: Houston Apartment Association, Houston Apartments Association

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2929 Weslayan, a 40-story apartment tower with 254 units, is managed by PM Realty Group. The property won a Cornerstone in the Houston Apartment Association Honors Awards for 2017.

2929 Weslayan, a 40-story apartment tower with 254 units, is managed by PM Realty Group. The property won a Cornerstone in the Houston Apartment Association Honors Awards for 2017.

Photo: Houston Apartment Association

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A lounge area inside 2929 Weslayan.

A lounge area inside 2929 Weslayan.

Photo: Houston Apartment Association

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A firepit on the rooftop is among the amenities at 2929 Weslayan.

A firepit on the rooftop is among the amenities at 2929 Weslayan.

Photo: Houston Apartment Association

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A living room inside a unit at the 40-story 2929 Weslayan apartment tower.

A living room inside a unit at the 40-story 2929 Weslayan apartment tower.

Photo: Houston Apartment Association

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A kitchen inside a unit at the 40-story 2929 Weslayan apartment tower.

A kitchen inside a unit at the 40-story 2929 Weslayan apartment tower.

Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: 100 – 150 Units. Palms at Chimney Rock was built in 1964 and features 125, recently remodeled units. Residents praise the management company for its responsiveness and for creating a quiet and peaceful community where neighbors know each other. Address: 6700 Chimney Rock, Houston, TX 77081 Management: Rockstar Capital Management. less Houston Apartment Association Honors Awards 2017 winner. Category: 100 – 150 Units. Palms at Chimney Rock was built in 1964 and features 125, recently remodeled units. Residents praise the management ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner.  Category: 151 to 300 units built before 1980. Campbell Grove was built in 1960. The resort-style gated community is nestled among wooded and landscaped grounds and features numerous amenities, including a resort-style pool, outdoor kitchen pavilion & barbecue facilities, natural children’s playground, on-site doggy station and monthly resident events. Address: 1515 Campbell Rd, Houston, TX 77055 Management: Pacific Star/Relik Realty. less Houston Apartment Association Honors Awards 2017 winner.  Category: 151 to 300 units built before 1980. Campbell Grove was built in 1960. The resort-style gated community is nestled among ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built before 1980. Park at Voss was built in 1971, has 810 units and is located in the Galleria-area. Amenities include an expansive fitness studio with Wellbeats on demand fitness classes, including yoga and spinning, sand volleyball and a large playground.  Address: 2424 S Voss Rd, Houston, TX 77057. Management: Asset Plus – Barvin Group less Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built before 1980. Park at Voss was built in 1971, has 810 units and is located in the Galleria-area. Amenities include ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: 151 to 300 units built between 1980 and 1989. Green Meadows was built in 1983, has 240 units and is located in the Bear Creek-area. Recently renovated, the community’s amenities include a kids park and Zumba classes. Address: 17310 Kieth Harrow Blvd, Houston, TX 77084. Management: Rockstar Capital Management. less Houston Apartment Association Honors Awards 2017 winner. Category: 151 to 300 units built between 1980 and 1989. Green Meadows was built in 1983, has 240 units and is located in the Bear Creek-area. Recently ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 1980 and 1989. The Pointe at Steeplechase was built in 1982, has 318 units and is located in Jersey Village. Recently renovated, the community offers a wide variety of amenities, including two pools, a fitness facility, and community grilling areas. Address: 8901 Jones Rd, Houston, TX 77065. Management: Veritas Equity Management. less Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 1980 and 1989. The Pointe at Steeplechase was built in 1982, has 318 units and is located in Jersey ... more Photo: Houston Apartment Association

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Category: 151 to 300 units built between 1990 and 1999. The Enclave at Mary’s Creek was built in 1999, has 240 units and is located in Pearland. Nestled along scenic Mary’s Creek, the community offers a kids park, a movie room, enclosed garages, a sparkling pool, and 24-hour emergency maintenance, among other amenities.Address: 2900 Pearland Pkwy, Pearland, TX 77581. Management: Pinnacle. less Category: 151 to 300 units built between 1990 and 1999. The Enclave at Mary’s Creek was built in 1999, has 240 units and is located in Pearland. Nestled along scenic Mary’s Creek, the community offers a ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 1990 and 1999. Gables CityWalk Waterford Square was built in 1990, has 317 units and is located in the Upper Kirby-area. The Green-certified community features detached garages, additional storage, 9’ ceilings and fireplaces, among many amenities. Address: 2828 Greenbriar Dr, Houston, TX 77098. Management: Gables Residential. less Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 1990 and 1999. Gables CityWalk Waterford Square was built in 1990, has 317 units and is located in the Upper ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: garden property with 151 to 300 units built between 2000 and 2015. The Retreat at Westpark was built in 2003, has 156 units and is located in Westchase. The garden-style community features wood-burning fireplaces, gourmet kitchens, a resort-style pool deck and poolside cabana, and more. Address: 10575 Westpark Dr, Houston, TX 77042. Management: Francis Property Management. less Houston Apartment Association Honors Awards 2017 winner. Category: garden property with 151 to 300 units built between 2000 and 2015. The Retreat at Westpark was built in 2003, has 156 units and is located in ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: garden-style property with more than 300 units built between 2000 and 2015.Elan Briar Forest was built in 2014, has 324 units and is located in the Energy Corridor-area. Bamboo flooring, open kitchens with islands, computer desks and detached garages are among the featured amenities. Address: 14698 Briar Forest Dr, Houston, TX 77077. Management: Greystar. less Houston Apartment Association Honors Awards 2017 winner. Category: garden-style property with more than 300 units built between 2000 and 2015.Elan Briar Forest was built in 2014, has 324 units and is located ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: mid-rise property with 151 to 300 units built between 2000 and 2015. The Grand at LaCenterra offers a blending of relaxed lakeside living in a Main Street-style setting. Amenities include a poolside social lounge, a game room , a 24-hour strength and cardio center with Wellbeats Fitness, offering yoga, spin and weekly fitness classes; executive conference room; resort-style pool with sundeck and heated spa; monthly social activities including sports, networking night out, holiday, charity, and health and wellness events; and more.Address: 2727 Commercial Center Blvd, Katy, TX 77494. Management: Martin Fein Interests. less Houston Apartment Association Honors Awards 2017 winner. Category: mid-rise property with 151 to 300 units built between 2000 and 2015. The Grand at LaCenterra offers a blending of relaxed lakeside living in a ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 2000 and 2015. 2121 Mid Lane was built in 2009, has 329 units and is located in the Highland Village-area. Outdoor kitchens; resort-style pool; newly upgraded dog park with wash deck and exercise hoops; climate-controlled wine storage and a conference room are among the amenities. Address: 2121 Midlane St, Houston, TX 77027. Management: The Morgan Group. less Houston Apartment Association Honors Awards 2017 winner. Category: more than 300 units built between 2000 and 2015. 2121 Mid Lane was built in 2009, has 329 units and is located in the Highland ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: high-rise property built between 2000 and 2015. Olympia at Willowick Park was built in 2015, has 189 units and is located in the Highland Village-area. The midrise community offers 24-hour concierge service and resort-style amenities, including an on-site bike storage and Bike Fixtation; Spa and Salon with two treatment rooms, lounge and pampering area; 8th floor Observation Lounge with indoor and outdoor seating and views of Downtown skyline; and formal gardens and a one-acre park. Address: 3939 W. Alabama Street, Houston, TX 77027. Management: Martin Fein Interests. less Houston Apartment Association Honors Awards 2017 winner. Category: high-rise property built between 2000 and 2015. Olympia at Willowick Park was built in 2015, has 189 units and is located in the Highland ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: 2016 new development, garden-style. Cottages at South Acres has 150 units and is located in south Houston, in the Crestmont Park-area. The pet-friendly community offers standalone cottages with attached garages, 24-hour maintenance, extensive playground and park area and more. Address: 11409 Scott St, Houston, TX 77047. Management: Hettig Management. less Houston Apartment Association Honors Awards 2017 winner. Category: 2016 new development, garden-style. Cottages at South Acres has 150 units and is located in south Houston, in the Crestmont Park-area. The ... more Photo: Houston Apartment Association Honors Awards 2017 winner.

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Category: 2016 new development, mid-rise. Pearl Washington has 322 units and is located in the Washington Avenue-area. Amenities include a private meeting room with video conferencing; platinum athletic center featuring Peloton Bikes, Yoga and spinroom with interactive fitness; Central Bark (dog park) with adjacent pet friendly terrace; Vegas-style pool with sunshelfs, cabanas and grills; courtyards with hammock swings, bocce court, and outdoor kitchen. Address: 5454 Washington Ave., Houston, TX 77007. Management: The Morgan Group. less Category: 2016 new development, mid-rise. Pearl Washington has 322 units and is located in the Washington Avenue-area. Amenities include a private meeting room with video conferencing; platinum athletic center ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: 2016 new development, high-rise. Hanover Southampton was built in 2016, has 206 units and is located in the Rice Village-area. Resident private amenities include a 12th floor rooftop pool and outdoor lounge, state-of-the-art fitness area, and private entertainment spaces. Address: 5122 Morningside Dr, Houston, TX 77005. Management: The Hanover Co. less Houston Apartment Association Honors Awards 2017 winner. Category: 2016 new development, high-rise. Hanover Southampton was built in 2016, has 206 units and is located in the Rice Village-area. Resident ... more Photo: Houston Apartment Association

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Houston Apartment Association Honors Awards 2017 winner. Category: Senior Living. Lafayette Plaza was built in 2015, has 122 units and is located in the Southwest-area. The Senior Living community features a fitness center, sparkling pool, private garages, and theatre room, card and game room, conference room, as well as an on-site hair salon and planned activities and events. Address: 7320 Clarewood Drive. Houston, TX 77036. Management: William Henson, Allied-Orion Group. less Houston Apartment Association Honors Awards 2017 winner. Category: Senior Living. Lafayette Plaza was built in 2015, has 122 units and is located in the Southwest-area. The Senior Living community features a ... more Photo: Houston Apartment Association

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Apartment rents in Houston and several other area cities declined in June compared with the same month a year earlier, moving in the opposite direction of rents in Texas and nationwide, a new report showed.

Houston rents declined by 2.8 percent year-over-year, according to Apartment List, an apartment rental marketplace based in San Francisco. The median rent of $990 for a two-bedroom unit in Houston in June compares with a national median of $1,150. 

Meanwhile, rents increased 2.9 percent nationally, with apartments in Seattle, Phoenix and Los Angeles rising by more than 5 percent on average.

AT HOUSTONCHRONICLE.COM: Greenway Plaza owner sold in $1.2 billion 'shot-in-the-arm' deal

AREA RENT TRENDS

Median apartment rents in June, and percent change since June 2016:

Conroe: $850 (1-BR); $1,040 (2-BR); -3.7%
Spring: $1,070(1-BR); (1 $1,310 (2-BR); -3.6%
Houston: $810 (1-BR); $990 (2-BR); -2.8%
Stafford: $970(1-BR); $1,180(2-BR); -2.3%
Pearland: $1,080 (1-BR); $1,320 (2-BR); -2.2%
Sugar Land: $1,270 (1-BR); $1,550 (2-BR); -0.9%
Pasadena: $780(1-BR); $960 (2-BR); -0.3%
Rosenberg: $830 (1-BR); $1,020 (2-BR); +0.8%
League City: $1,200 (1-BR); $1,460 (2-BR); +1.2%
Baytown: $840 (1-BR); $1,030 (2-BR); +5.1%

Source: Apartment List

Rents in Texas rose by 1.3 percent over the past year. Arlington, Garland and Fort Worth showed year-over-year growth of 9.0 percent, 5.2 percent and 4.8 percent respectively.

Seven of the largest 10 area cities tracked by Apartment List saw year-over-year drops in rent in June, with Conroe falling by 3.7 percent and Spring showing a 3.6 percent drop. Rents rose most in Baytown (up 5.1 percent), followed by League City (up 1.2 percent) and Rosenberg (up 0.8 percent).

Source : http://www.chron.com/business/real-estate/article/Houston-apartment-rents-dip-in-June-11263513.php

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