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Montrose gets a fancy new movie theater, while Midtown loses its theater chance — for now

On the heels of the news that Florida luxury movie theater group iPic Entertainment will be moving into River Oaks, Austin-based Alamo Drafthouse revealed that it also will be opening a theater inside of the Loop.

Regent Square is the newest spot for the Austin-based cinema chain, which already has locations at Mason Park in Katy and Vintage Park in northwest Houston.

Consistent with the development's plan to be "all about the pedestrian," Alamo Drafthouse will also host outdoor screenings.

Construction of phase one began in September on the long-delayed Regent Square, a mixed-use development near the corner of Dallas and Dunlavy that aims to offer everything a resident needs — restaurants, retail, offices and entertainment — in 24 acres.

In addition to the 35,000-square-foot, nine screen, 950-seat cinema, the second phase of Regent Square construction — expected to begin in late 2013 — will include 160 residential units and 15,000 square feet of restaurant space.

Consistent with the development's plans to be "all about the pedestrian," Alamo Drafthouse will also host outdoor screenings in the on-site park.

Alamo Drafthouse announced in May 2012 intentions to open a theater at 2901 Louisiana Street, but Alamo representative Neil Michaelsen tells the Houston Business Journal that, in light of construction delays, the company is "reviewing alternate sites in Midtown for an Alamo and is committed to bringing the concept to that market."

Regent Square is set to begin the second phase of construction in late 2013.

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rent affordability news

Houstonians need to make nearly $68,000 to afford rent in 2025

Photo courtesy of Dolce Midtown Apartments

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A new rental report from Zillow has revealed Houston renters need to make about 23 percent more money than they did five years ago in order to afford rent in 2025.

Zillow analysts examined the income needed to afford rent in 50 major U.S. metros, and determined rent prices in each city as of April 2025.

The average Houston renter needs to make $67,731 a year to afford living in the city, the report found. To afford rent for a single-family home, the income needed increases even further to $85,017.

Despite Houston's rising rent cost of living, it's still more affordable than many other cities. Nationally, the average income needed for someone to comfortably afford rent comes out to nearly $81,000. The study says that figure has increased nearly 35 percent since 2020.

"Housing costs have surged since pre-pandemic, with rents growing quite a bit faster than wages," said senior Zillow economist Orphe Divounguy. "This often leaves little room for other expenses, making it particularly difficult for those hoping to save for a down payment on a future home. High upfront costs are often overlooked, which can keep renters in their current homes."

Rent prices in Houston averaged $1,693 last month, which is less costly than the national average rent price of $2,024. Additionally, Houstonians are spending about 24 percent of their income on rent, while the typical American spends almost 30 percent of their income on rent.

Renters are also saving hundreds of dollars in comparison to those that own their homes, as a recent SmartAsset study discovered the median monthly housing costs for a Houston homeowner came out to $2,219.

At least we're not living on the East or West Coast, where eight U.S. metros require six-figure incomes to afford rent. Residents in San Jose, California need to make $136,532 a year to afford rent, the highest out of all 50 U.S. cities. Rent prices in San Jose came out to $3,413 in April.

Here's how much money renters need to afford living in other Texas metros, according to Zillow:

Dallas – $71,413
Austin – $68,840
San Antonio – $58,590

zillow housing report rent prices affordability houston