The average rent for Houston apartments declined in December for the fifth straight month and matched the average of January 2015, according to Axiometrics, the leader in apartment and student housing market intelligence.

December’s decline continued a trend of rent decreases that began after the Houston market reached an all-time high average effective rent of $1,100 in October 2015. The average rent level has fallen $48 since then.

“Houston-area apartment investors and property owners need jobs to be created so demand for their units will increase,” said Jay Denton, Axiometrics senior vice president of analytics. “Even though construction of new properties is subsiding, a lot of supply is still hitting the market. With occupancy below 92%, many units are vacant.”

About Axiometrics

Axiometrics’ expertise is monitoring and reporting on the apartment and student housing markets, providing an in-depth view of volatile market trends. Axiometrics’ granular data-collection methods and thorough analysis help clients make profitable – and wise – decisions.

To learn more visit www.axiometrics.com, follow @Axiometrics or on LinkedIn, or call 214-953-2242.