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    Not-so-sweet home costs

    Houston single-family home rents are going through the roof, study says

    John Egan
    Jun 27, 2019 | 9:15 am
    $100 bills money
    Even renting is becoming less affordable.
    Tomasz Zajda/EyeEm/Getty Images

    As residents of the Houston area continue to reel from rising sale prices for single-family homes, some are pursuing a more attractive alternative: single-family home rentals. But a new study indicates that even those are getting more expensive.

    In the Houston-The Woodlands-Sugar Land area, rents for single-family homes rose 1.2 percent from April 2018 to April 2019, according to the study, produced by CoreLogic.

    “While the housing market is cooling, home prices remain high in some of the nation’s top metros. This may be contributing to the growing rental demand, as many potential buyers are being priced out of the market,” Molly Boesel, principal economist at CoreLogic, says in a release.

    CoreLogic analyzed changes in single-family rents across the U.S. as a whole and in 20 metro areas, including Houston. In Austin, single-family rental rates grew 3.5 percent from April 2018 to April 2019, according to CoreLogic, while the growth rate was 2.5 percent in the Dallas area. San Antonio was not included in the study.

    Although percentage increases for April 2019 were available, the dollar amounts for single-family rents were not. Dollar amounts for March 2019, however, were available. In the Houston area, the median rent for a three-bedroom, single-family home was $1,408, according to CoreLogic, less expensive than Austin ($1,548) and Dallas ($1,622).

    Among the 20 metro areas examined by CoreLogic, Phoenix posted the highest year-over-year increase in rents for single-family homes — 6.9 percent.

    CoreLogic, a provider of property data, services, and technology, says low inventories of single-family home rentals are driving up rental rates around the country. “Metro areas with limited new construction, low rental vacancies, and strong local economies that attract new employees tend to have stronger rent growth,” the company says.

    The Houston Association of Realtors recently reported that the median price of a single-family home in the greater Houston housing market rose was $249,993 in May 2019, a 2.4 percent increase from May 2018. In that same period, the average home price increased 5.8 percent to $323,023, according to the association.

    Amid that atmosphere, some residents of the Houston area are turning to single-family home rentals, because those require less of an upfront financial commitment than home purchases. One reason? When you rent a home, there’s no down payment (a 20 percent down payment equates to around $50,000 for the median-priced home in the Houston area). Another reason? Buying a home normally results in thousands of dollars in mortgage-related fees.

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    A city retreat

    Houston fave Frank Billingley's house hits the market for $1.5 million

    Holly Beretto
    Jun 23, 2025 | 1:45 pm
    38 Hackberry Lane exterior
    Josh Gremillion for Martha Turner Sotheby's International Realty
    38 Hackberry Lane, currently owned by Frank Billingsley, is on the market for $1.525 million.

    Set just off Mid Lane is a beautiful, custom-built home. Located at 38 Hackberry Lane, the four-bedroom, three-and-a-half bath home with great details is now on the market for $1.525 million, represented by Corey Lipscomb of Martha Turner Sotheby's International Realty.

    With 3,356 square feet of living space and sitting on a lot that’s more than 8,300 square feet, the home is currently owned by Frank Billingsley, current executive producer and co-host of Houston Public Media’s Hello Houston. Audiences will also recall him as the longtime meteorologist for KPRC-TV in Houston.

    Upon entering the home’s double doors, potential buyers will be captivated by the home's dark, hardwood floors, and a dramatic, custom, wrought-iron staircase. The entryway also offers views of the living room, which features a fireplace, recessed lighting, and French doors that lead to a covered patio and the pool. A wet bar with porcelain counters and an ice maker are right off the living room, handy access for sharing cocktails with guests.

    The formal dining room has custom millwork, inlaid hardwood floors, and French doors leading directly to the pool deck. Large windows offer abundant natural light and sweeping views of the backyard.

    The kitchen offers porcelain countertops, a gas range, stainless appliances, and plenty of storage. It’s anchored by an island that has bar seating. A breakfast room is an ideal spot to begin the day with a cup of coffee.

    Upstairs, the primary suite has its own fireplace and sitting room, making it a true owner’s retreat. The primary suite bath has a double sink vanity, seamless glass shower and separate soaking tub, as well as a walk-in closet. The additional bedrooms on the second floor each have a Hollywood bath. The fourth bedroom is on the third floor, with a full bath and walk-in closet.

    The beautifully landscaped yard is perfect for entertaining, with a covered loggia with fireplace, hot tub, pool, and a covered patio.

    With its location not far from Highland Village, Central Market, and the Galleria, this is a home that those who want to be in the heart of it all, while still feeling like they have an oasis in the city.

    38 Hackberry Lane exterior
      

    Photo by Josh Gremillion for Martha Turner Sotheby's International Realty

    38 Hackberry Lane, currently owned by Frank Billingsley, is on the market for $1.525 million.

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