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El Paso rent increases below Texas, U.S. rates

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Another new report shows El Paso’s rental market is performing below other cities.

The average rent for two-bedroom apartments and rental homes in El Paso increased 2.7 percent in November compared to a year ago — below the statewide average increase of 3.4 percent and well below the national average of 4 percent, according to a new report from Apartment List, an online apartment search company based in San Francisco.

The average rent for one-bedroom housing units in El Paso had no gain in November from a year ago, while the statewide average increased 4.1 percent from November 2014.

A recently released report from Seattle-based All Property Management found that El Paso is the worst market for rental property investors and owners among 75 cities in the United States, including 12 in the Southwest. The report was based on second quarter data.

The average rent for a one-bedroom housing unit in El Paso was $600 in November, and an average $790 for a two-bedroom unit, Apartment List reported.

The most expensive rents in Texas were in the Dallas metro area. The Dallas suburb of Addison had an average rent of $1,750 for a two-bedroom unit in November. The Dallas suburb of Garland had the largest two-bedroom average rent gain of 9.8 percent in November from a year ago.

More information: apartmentlist.com/rentonomics

Vic Kolenc may be reached at vkolenc@elpasotimes.com; 546-6421; @vickolenc on Twitter.

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