What $1,500 in Rent Gets You in 5 Houston Neighborhoods

Categories: Surreal Estate

RentTooDamnHigh.jpg
Grace C
If you're in New York or Boston, $1,500 in rent might get you a studio apartment that more closely resembles a glorified dorm room than an actual adult's living space. On the other end of the spectrum, you can basically rent a mansion in Omaha, Nebraska, or Missoula, Montana, for $1.5k a month.

In its recent list of what $1,500 in rent gets you in cities across the country, Mashable skipped right the hell over Houston. Sure, rent is skyrocketing here, jumping about 4.9 percent every year, with average rent hitting $1,249 in July. Inside the loop, rent's expected to spike about 9 percent every year.

But at least we're not NYC, which collectively freaked out this summer when average rent crossed the $3,000-per-month threshold (that "Rent is Too Damn High" dude was right). But neither are we Iowa City, where $1,500 a month rents a 3-bed, 2.5-bath, 1,500 square foot house.

We checked w/ Zillow to see what you can rent in Houston, inside the loop, with $1,500 a month. Here's what we found.

More »

Depressing Photos From Northwest Mall

northwestmall4.jpg
Monica Fuentes
Where did they film Dawn of the Dead again?
Northwest Mall, the 800,000 square-foot shopping center situated right behind the U.S. 290 and 610 Loop construction project, is up for sale, according to the Chron.

The listing company says the site is ideally suited for a hotel, multifamily housing, office, and retail development. The listing company, HFF, also told the Chron that most of the tenants could easily be moved as soon as the property sells for an expected $86 million.

That shouldn't be too hard, we think. We poked around the shopping-center ghost town yesterday and found it looking more like the outskirts of Chernobyl than a mall. Take a look.


More »

Biggest Clusters of New Apartment Construction Going Up Right Where You Would Expect (and a Few Where You Wouldn't)

Categories: Surreal Estate

new-apartment-construction.jpg
Google Maps
Lots of new apartment construction inside the loop.
Houston has experienced an explosion of growth over the past five years. As a result, housing costs have skyrocketed and rent has escalated right along with it. Yet the demand continues with no end in site. Some have suggested this is a real estate bubble, while others are more cautiously optimistic, saying the city's traditionally low rent and home costs are now just coming in line with the rest of the country. Whatever the case may be, a lot of new construction for both homes and apartments are is cropping up all over town.

For new multifamily construction, you probably won't be surprised to find that the bulk of it is occurring in downtown, Midtown, the Montrose area, the Washington Corridor and near the Galleria. To illustrate that, Erin Mulvaney of the Houston Chronicle created a Google map of all the new apartment construction around the city.

More »

Houston Rent May Be Skyrocketing, But These Five Areas Are Still Affordable

westchase.jpg
Apartment Guide

Looking for an affordable apartment? Good luck -- and we mean that. Houston's rental prices are increasing at the fastest pace on record, and those sky-high apartment tags are no longer limited to the Inner Loop.

As of July 2014, the average apartment rent in Houston is about $1,249 a month, and recent data shows that apartment rents are increasing at around 4.9 percent every year in the Houston region. The housing market for buyers is also kinda rough -- as in there's not very much to buy -- and residents in Houston are also making a shift from owning to renting.

The data, released by CBRE, a Los Angeles-based real estate brokerage firm with offices in Houston, shows that rents are growing at the fastest pace on record at that 4.9 percent rate. And that growth isn't all in areas one would expect, either.

More »

The Surprising Cost of Renting a House in Eight Popular Houston Hoods

Categories: Surreal Estate

houston-rent.jpg
YouTube screen grab.
The rent is TOO DAMN HIGH!
For nearly two years the Houston housing market has been booming. Home inventories are at all-time lows and the city set a record in July for total houses sold and total value of homes sold. It is no surprise then that rental costs have risen right along with home values. That includes rent houses, a market that has exploded with Houston's growth, particularly among young professionals not ready to settle into a home yet. But, with costs soaring in some of Houston's most desirable neighborhoods, it might be cheaper to buy.

We took a look at eight popular Houston neighborhoods where there were more than 15 current rental properties (that quickly excluded places like Midtown, Upper Kirby and Garden Oaks) that were not exclusively town homes (and not duplexes -- these are whole single-family dwellings), which tend to vary pretty widely in price range (this excluded the entire Galleria area, which is dotted with town homes and homes that rented for as much as $17,000!). What we found were that prices were remarkably high for rent especially considering these are single family homes, not duplexes, that don't include bills or yard maintenance -- nearly all the costs of a typical home, but without the ownership.

To get our numbers, we used Zillow's map tool and approximated general areas inside Houston's city limits with more than 10 single-family rental properties the week of August 15. We made a range from low to high for rental properties in that general area, also providing an approximate median cost for each rental. It is far from scientific, but gives a good idea of the average range of rent for properties in these neighborhoods.

More »

Real Estate, Like Everything Else, Getting More and More Public

Categories: Surreal Estate

trulia-logo.jpg
Websites like Trulia and Zillow have $3.5 billion reasons to stay in business.
Recently I was speaking with a colleague who lives near me. We are both rather fixated on the development to our entire area, hoping as property values continue to rise and nearby infrastructure is improved, the surrounding commercial developments will improve. Better grocery stores. More restaurants. The whole nine yards.

The question we both had, however, was how to find out when those changes were coming. It was then I realized there are lots of ways thanks to the Internet, but with apps and websites and databases full of public information comes an openness about our homes and businesses we must learn to accept.

In the neighborhood where my wife and I bought a home last years, there is a home owners association. I never thought I would want one let alone want to be involved but the rapid growth of virtually every area inside the Beltway and the dramatic increase in the cost of real estate makes me interested in protecting my investment. But for many of the older residents of my new hood, the biggest concern is privacy, something nearly always guaranteed until recently. Now, with technology, that protection is threatened, but that's the price we pay for information.

More »

Rice Professor Will Study People Displaced by Houston's Residential Developments

skyline.jpg
Photo by Norm Lanier

It doesn't take a lot of looking around to see new construction all over the place in Houston. A Rice sociologist wants to find out who is being affected by Houston's rapid residential development.

Led by sociology professor Steven Murdock, the former head of the U.S. Census Bureau, Rice will begin a three-year study examining the impacts of recent urban development in Houston's metropolitan area.


More »

Five Things You May Not Know About 45-Year-Old IAH

iah.jpg
Photo by Alan Cordova

Time flies, doesn't it? This weekend, George Bush Intercontinental Airport celebrated its 45th birthday. It's an international hub for the Bayou City, bringing people from around the world to Houston (sometimes for things other than tourism, we imagine).

In honor of the airport named after the 41st president, here are five things you may not know about the place with the airport code IAH:

5. Charlotte and Phoenix see more domestic travelers than IAH.
You'd think having the fourth-largest metro population in the United States would mean Houston's largest airport would see lots of domestic travelers pass through. Yes and no. According to the Bureau of Transportation Statistics, approximately 29 million domestic flyers passed through IAH -- good enough for 13th among major U.S. airports.

More »

What's the Deal with 6737 Southwest Freeway?

dealership3.jpg
Photos by Aaron Reiss
The three cars in the showroom have been there for years.
"Thank you for calling the Tennessee Titans. If you know your party's extension, please dial now."

Maybe you're like me. Maybe you've seen it and wondered what the hell it was doing just sitting there.

At 6737 Southwest Freeway you'll find an abandoned car dealership. For years, as I drove on 59 South toward my mother's office, I passed the dealership. Three cars in a showroom. Another car in the lot, where a security guard sat.

At night, the lights turn on, illuminating the emptiness.

It wasn't until I started working at the Houston Press a few weeks ago that I ever had an outlet to investigate the property. Who owned it? What are their plans for it? Hell, why not at least lease it rather than just let it sit there?


More »

Tags:

Bud Adams

Creepy Third Ward Mansion Sold for $251K

Categories: Surreal Estate

Thumbnail image for wichita.jpg
Photo by Houston Association of Realtors
Spooky, right?

Towers, unfinished walls and a new owner -- oh my! This 4,861-square-foot five-bedroom mansion at 2309 Wichita Street sold Tuesday.

Listing Realtor Brenda Ames said in an email that the property was listed at $150,000 but after approximately 25 offers, the property sold for $251,000. That's a lot of money to pay to feel like you live on the set of American Horror Story.


More »

Now Trending

From the Vault

 

Loading...