HOUSTON – (By Dale King, Realty News Report) – Pearland is the ranked as the eleventh most-coveted suburb in the nation by people who’d rather rent than buy their domicile.
RENTCafé.com — a nationwide internet listing service enabling renters to find apartments or houses for lease throughout the United States – developed that statistic. In a recent study, the researchers at RENTCafé decided to find out “which suburbs are the most popular with renters in the U.S.”
“During the past few years, there has been a notable increased interest in suburban renting, whether caused by downsizing retirees, relocation or immigration,” says the RENTCafé.com report. (Full Report available: click here)
“But some suburbs have led the way, seeing rapid development and spectacular gains in renter population. Using data from Yardi Matrix and the U.S. Census Bureau, we looked into renter population changes between 2011 and 2016 to uncover the suburbs that peaked the most.”
“For more context, we also analyzed the change in rent prices over the same period in order to see what impact the rise in popularity of some suburbs has had on rents. As expected, the suburbs with a high influx of renters have also seen rents rise at a faster than average pace.”
Boasting a strong local economy and high-paying jobs in the tech sector, Georgia is home to 6 of the Top 20 trending suburbs in the U.S., followed by Texas with 5 beckoning ‘burbs.
Chamblee, in the Peach State, scored highest in the category of renter growth at 156 percent. Next is Norcross, at 148%.
Next comes Flower Mound, outside Dallas, which saw a 115% increase in the population of renters between 2011 and 2016 — the largest leap of any metro area community in the Lone Star State. Behind that was Allen, Texas, a 71% increase in renters and Burleson, Texas, where the renter tally soared 70%.
Houston enters the picture here. “Pearland is Houston’s most sought after suburb, with a 67% boost in the renter population between 2011 and 2016 and an uptick of 6% in rent prices between 2014 and 2018,” the study says. The average rent in Pearland in October 2018 was $1,273 a month.
“This renter population growth makes Pearland the 11th most popular suburb in the country, after Dallas/Fort Worth suburbs Flower Mound, Allen and Burleson.”
Next on the Houston list are Friendswood, second fastest-growing area in the Bayou City metro, which presided over a 50% increase during the aforementioned five-year period. This might have come at a cost, as rents here have also risen by 17% in five years.” The October 2018 average monthly charge was $1,120.
The third favorite leasing location in the Houston metro is claimed by Spring, “with a substantial 35% renter population growth. Similar to other areas, the cost of renting here went up by 11% as well” to an average of $1,157 in October 2018.
Rounding out the top 10 favorite rental communities in metro Houston are: Deer Park, up 33%; Seabrook, up 23%; Clute, up 20%; Lake Jackson and Rosenberg, both up 14%; Galveston, up 13 percent and Pasadena, where the number of renters increased 11 percent during that five-year period.
The renter population was unchanged in the town of Stafford. The final four on the list of near-Houston municipalities reported more renters moving out than in: Humble, a loss of 2%; Alvin and Katy, minus 5% each and Richmond, minus 11%.
Suburban life might not seem as thrilling and adventurous as city life, but it definitely has some very exciting advantages, says the RENTCafé.com report. “Renting in the suburbs tends to be more affordable, generally, and who doesn’t like the idea of paying less for more space? In addition, suburban public schools are often better than inner city schools, and there’s no match for the sense of community, especially if you’re raising a family.”