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Study Finds Luxury Apartments In Houston Cost 71% More Than Middle-Income
July 12, 2016
Courtesy of the Morgan Group
Everyone expects to pay more if they choose to live in luxury, but just how much more? RentCafé decided to find the answer. In Houston, renters need to pay an average of $579 more per month to upgrade to a high-end apartment, about a 71% premium over the median. In Q2 2016 the average luxury unit in Houston was $1,398, which is a bargain compared to the national average of $1,551. Houston's luxury differential isn't too bad, earning it the 37th spot on the national list. Luxury rent growth has been slowing, down to 4.7% in Q2 2016.
