The rent in Midland has experienced a significant increase, rising over 17 percent from the previous year, as reported by Construction Coverage.
The organization, which supplies data to construction professionals prior to project initiation, noted that the average rent in Midland has climbed to $1,977 from $1,679 last year, marking a $298 difference. Midland ranks sixth among small metro areas. The city follows Bozeman, Montana (average rent $2,230, 37.4 percent change), Helena, Montana (average rent $1,507, 29.5 percent change), Idaho Falls, Idaho (average rent $1,600, 18.8 percent change), Twin Falls, Idaho (average rent $1,466, 18.7 percent change), and Pinehurst-Southern Pines, North Carolina (average rent unspecified).
According to the report from Construction Coverage, Odessa is ranked 24th on the list with a 13.2% rise in rent from last year. The average rent in Odessa is now $1,754 compared to $1,550 last year—a $154 increase. Abilene ranks 45th with a 9.8% rise in rent from last year; its average rent is now $1,402 compared to $1,277 last year—a $125 increase. Other Texas cities on the list include Texarkana area bordering Arkansas; Waco at number 62; Laredo at number 67; Tyler at number 74; and Victoria at number 82.
The report also indicates that the Houston area ranks fifth in the Top Large Metros list with a 13.3% increase in rent from last year. The average rent there has risen to $1,710 this year from $1,509 last year—accounting for a $201 change. Across all metros nationwide, Midland holds the eleventh position while Houston ranks thirty-ninth. Texas is ranked sixteenth among states with an average state-wide rent of $1,692—up from $1,591 last year—a difference of $101.