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    Rent Report

    Houston rent prices reflect Harvey landfall, says new report

    Sam Radbil, Abodo
    Jan 19, 2018 | 10:14 am
    downtown Houston skyline at night
    Photo by © Debora Smail/Greater Houston Convention and Visitors Bureau

    Texas had a challenging 2017, largely fueled by the swath of damage left by Hurricane Harvey. Plagued by natural disasters from wildfires to floods, 2017 was the costliest year of natural catastrophes. Harvey proved to be the most expensive of the year, causing $125 billion in damages, and its impact was felt everywhere, including the rental market.

    Earlier this year, we saw a report from apartment listing service Abodo that found Houston’s rent prices were rising at the third-fastest rate in the country. As of July, one-bedroom apartments in Houston cost a median of $1,053, and the prices rose an average of 3.8 percent a month.

    In August, when Hurricane Harvey made landfall, Houston was the hardest hit city in Texas. Abodo’s newest report, which tracks rental trends throughout 2017, found that the city’s rental landscape was also greatly impacted. Despite the consistently high monthly rent increases through July, August ushered in four straight months of declines, which started strong in September and diminished toward the end of the year.

    In August, rents dipped a slight 0.6 percent, but in September, they plummeted 6.5 percent — the second-largest drop in the country that month. In October, the decline wasn’t quite as steep, but was still a significant 5.1 percent, which was the country’s third-largest drop. November saw another decrease of 2.9 percent, but in December, as the market started to find its footing again, rents were up 1.2 percent.

    Houston hit its year-high for rent in July, with the median one-bedroom rent at $1,191, up from $951 in January, and tumbled to $1,034 by December. Despite the midyear disruption, rent for Houston apartments went up an average of 0.8 percent each month — four times faster than the national average of 0.2 percent.

    Corpus Christi had Texas’ fastest rising rents, up an average of 1.9 percent each month. Rents fell the fastest in El Paso, where rents dropped about 1.9 percent a month, while Lubbock apartments were down 1.4 percent a month. Combining all of Texas’ cities, the state is just one of 28 to see an overall rent increase in 2017, rising an average of 0.5 percent a month throughout the year.

    Although Houston is Texas’ largest city, apartments in Austin and Dallas both had higher median rents in 2017, at $1,142 and $1,190, respectively.

    Going into 2018, it seems Houston’s rental housing market is prepared to resume its streak of rises, with the 10th-highest increase in the country: One-bedroom rents are up 2.2 percent, to $1.057. Two other Texas cities beat out Houston, however, for high monthly increases: Fort Worth one-bedroom apartments are up 3 percent, and Richardson’s are up 3.2 percent.

    For more on where rents are rising and falling the fastest, visit Abodo’s 2017 Annual Rent Report.

    rentreports
    news/real-estate

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    Seaside Living and More

    Shuttered Corpus Christi Schlitterbahn will become $800M seaside community

    Brianna McClane
    Jun 22, 2026 | 2:00 pm
    Whitecap Corpus Christi
    Rendering courtesy of Whitecap
    The former site of Schlitterbahn's Corpus Christi location is being transformed into Whitecap, an $800 million master-planned community.

    The site that once housed Schlitterbahn's short-lived Corpus Christi location is being transformed into Whitecap, an $800 million master-planned community with waterfront homes, a shopping and entertainment district, and a marina designed to withstand Category 5 hurricanes.

    Whitecap Corpus Christi

    Rendering courtesy of Whitecap

    The former site of Schlitterbahn's Corpus Christi location is being transformed into Whitecap, an $800 million master-planned community.

    The project by Ashlar Development LLC and partner Diamond Beach Holdings LLC is Corpus Christi’s first master-planned coastal community and is expected to include more than 600 residences.

    Located less than four hours from Houston and about 30 minutes from Corpus Christi International Airport, the development is aimed at buyers looking for primary homes, vacation properties, and investment opportunities.

    Schlitterbahn opened its Padre Island location in 2016 with hopes of bringing its popular waterpark brand to the coast. But financial troubles and leadership disputes complicated the project early on. After the park closed in 2020 during the coronavirus pandemic, it never reopened, and the site was demolished in 2021.

    Now, the former waterpark site is being redeveloped into a waterfront residential community.

    "The owners saw extraordinary potential in this uniquely positioned property,” Terence Johnson, executive vice president of Ashlar Development, tells CultureMap. “By transforming a former golf course and water park into Whitecap, they've created a luxury canal community that balances exceptional waterfront living with the preservation of valuable coastal habitat for migratory birds and wildlife.”

    The first phase of homesite sales is now underway. Buyers can choose from custom and semi-custom home options featuring a contemporary coastal aesthetic with materials such as concrete and glass.

    Located just minutes from Whitecap Beach, the community sits along five miles of navigable canals, with most homesites offering water views, direct canal access, and backyard docks.

    A pool and fitness center are already completed, with future plans including a café, event space, sports courts, a dog park, and a marina district with shopping, dining, entertainment, a yacht club, and dry boat storage.

    A 30-acre nature preserve will sit at the center of the development, providing habitat for migratory birds and other wildlife.

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