live and learn

Rice funds parent-focused affordable housing project in Third Ward

A new affordable housing development is going up in Houston’s Third Ward, led by Rice Real Estate Company, in partnership with Brinshore Development and the nonprofit Family Scholar House.

The project, Manson Place for Parent Scholars, combines affordable housing with comprehensive family support services to support single parents pursuing higher education

"Rice Real Estate is pleased to support this development that will expand access to quality affordable housing," Sam Dike, senior manager, real estate and asset management, said in a statement.

The 76-unit development will serve households earning between 30 and 80 percent of the area median income (AMI), with a focus on families earning at or below 50 percent AMI. According to the U.S. Department of Housing and Urban Development (HUD), 80 percent AMI for a family of four in Houston is $75,700.

Houston ranks second nationwide in the shortage of affordable rental homes for households earning at or below the federal poverty line or 30 percent of the area median income, according to a report by the National Low Income Housing Coalition.

Rice Real Estate Company, a subsidiary of Rice University that buys and manages properties such as Rice Village and the Ion District in Midtown, has tasked Brinshore Development, a firm specializing in mixed-income housing, to lead the project. Family Scholar House will oversee support services for residents, offering access to career counseling, financial literacy programs, and other resources.

“Scholar House is a proven program that promotes self-sufficiency and represents our commitment to creating inclusive communities that lift families up out of the generational cycle of poverty,” said Richard J. Sciortino, founding principal of Brinshore Development. “By combining affordable housing with educational support, we are not only addressing their immediate housing needs but also investing in their future and the future of their children.”

Funding for the project comes from Amegy Bank, Memorial Hermann Health System, and Rice University. Rice’s portion is a part of the $15.3 million Ion District Community Benefit Agreement established in 2022 to support community development and mitigate potential impacts around the Ion. While community organizers sought a direct agreement, Rice instead negotiated the deal with the city, leading to criticism over limited community input, as reported by the Houston Chronicle.

Rendering courtesy of Brinshore Development

Rice Real Estate is partnering with Brinshore Development and Family Scholar House to build affordable housing units in the Third Ward.

Manson Place will also rely on Federal Low-Income Housing Tax Credits, state and county ARPA funding, and an operating subsidy from the Houston Housing Authority. A low-interest loan from Rice Real Estate and Memorial Hermann helped close the project’s financing gap.

Construction has begun on Manson Place for Parent Scholars, with completion anticipated by year-end.

rent report

2 Houston suburbs had the priciest rents in the metro in November

Photo by Jeswin Thomas on Unsplash

Asking rent for a single-bedroom apartment in Houston came out to $1,210 in November, Zumper said.

After American shoppers spent $11.5 billion on Black Friday this year, it's safe to say everyone is watching their wallets this holiday season, including renters. And a new Zumper report is shedding light on the Houston-area cities that are shelling out the most for their rent.

The report analyzed active listings from the previous month across all cities in the Houston metro. It tracked the most and least expensive rent prices for one- and two-bedroom apartments, and determines the cities with the fastest growing rents. Listings were aggregated by city to calculate median asking rents.

Sugar Land had the highest rent prices in the Houston area in November, the report found. The median rent price for a single-bedroom apartment came out to $1,480 last month. That's $30 higher than the median asking rent for the same apartment in June.

For two-bedroom units, median rent prices in Sugar Land rose 4.3 percent from October to $1,940.

Pearland had the second-highest rents in the metro last month. Single-bedroom units had a median asking price of $1,370 per month, while two-bedroom units had a $1,700 price tag in November.

Residents in both Pearland and Sugar Land are expected to spend more than $3,100 on their holiday presents this year, a recent WalletHub study revealed, which means they may be keeping a closer eye on their budgets than other Houston-area residents.

Meanwhile, Houston proper had the third-priciest asking rents in the entire metro area in November. Median asking rent for a one-bedroom unit totaled $1,210 in November, and two-bedroom units had a $1,480 price tag.

These are the median rent prices for one- and two-bedroom apartments around Houston:

League City – $1,180 for one-bedroom units; $1,410 for two-bedroom units
Spring – $1,170 for one-bedroom units; $1,530 for two-bedroom units

Houston-area cities with affordable rent compared to the statewide median
Zumper found the statewide median rent for a one bedroom apartment came out to $1,126 last month.

Huntsville, a city 70 miles north of Houston, had the most affordable rent for a one-bedroom unit in the region, with median prices adding up to $880. The report also found that Huntsville's single-bedroom rent costs are surprisingly 6 percent more expensive than they were a year ago. However, the median cost for a two-bedroom unit in Huntsville – $1,000 – is the same asking price as it was in November 2024.

Six more Houston-area cities had more affordable single-bedroom rent prices than the statewide median:

Galveston – $1,110
Conroe – $1,100
Baytown – $1,000
Lake Jackson – $920
Pasadena – $910
Texas City – $890

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