In today’s marketplace and with the uncertainty of the economy, several Houstonians are choosing to rent versus buy homes and apartments. Over half of Houston’s population are currently renting because the annual rent in a one bedroom apartment in an urban area such as River Oaks or the Museum District in many cases costs less than the property taxes on a home.
In light of the economic downturn, sales of Houston single-family homes dropped in April 2009 by almost 25 percent compared to 2008 numbers with demand for rental properties rising by approximately 12 percent. The switch to renting has become prevalent in today’s market as residents are beginning to see the economic benefit of renting versus buying. The National Multi Housing Council (NMHC) for example, estimated that 20 percent of home owners would have saved money by renting.
Even Houstonians who can afford to buy are choosing to rent. If you decide to make that switch, how should you go about it? There are apartment locators all over the Houston area whose agents specialize in finding apartments for its customers.
ApartmentWIZ is one example of a FREE locator service that provides clients with their dream home for the best deals that fits within their expectations. Make the switch today and contact an ApartmentWIZ agent to help you find the luxurious living you desire without breaking the bank.