Apartments in Houston are the best for millennials, according to a study released on Tuesday.
News.au spoke to two apartment developers and one real estate agent about their properties, which range from studios to three-bedroom apartments.
“The apartments are all on the higher end of the spectrum and they’re all affordable, they’re really well managed,” said Andrew Zemel, the managing director of Zemels Properties, which is based in the Houston suburb of Katy.
Apartments can be more affordable than homes The study’s authors said there was “a lot of pent-up demand” for apartments in the city, with millennials spending on average $300,000 on a home in the past year. “
And then there are a lot of people that are young people who need to live somewhere else.”
Apartments can be more affordable than homes The study’s authors said there was “a lot of pent-up demand” for apartments in the city, with millennials spending on average $300,000 on a home in the past year.
But the study also found a “significant gap” between apartments in older neighbourhoods and those in the suburbs.
It also found that apartment rents in the capital were higher than those in smaller towns, and that prices were also more expensive in older areas.
In some neighbourhoods, such as Katy, the average price of an apartment was $859 per square metre, according the report.
In other neighbourhoods, it was $2,737 per square metres.
The average rent for an apartment in the City of Houston was $1,973, according a 2016 study by the Houston Chronicle.
Apartments are cheaper than homes In a similar study published in the journal Real Estate Economics, the researchers said that apartments were more affordable in older, older areas and had lower maintenance costs.
The study, based on a survey of about 6,000 renters in New York City, found that the average apartment in older New York was $9,527 per square foot.
But in the same city, a study by Zemell Properties found the average rent was $6,543 per square meter.
The median rent for a three-bed apartment in Houston was about $1.4 million per year.
The report also found older people were more likely to rent in the most expensive parts of Houston, such a the north and south sides.
The authors of the study said that the median income of renters in the study areas was around $70,000 per year, with an average rent of $3,000.
The study also said that older people are more likely than younger people to be homeowners, and the authors of that study said older people have a lower level of income and fewer financial resources than younger generations.
Many people are reluctant to buy apartments in younger areas due to the affordability issue, said Dr Lisa Hern, a senior lecturer in the Department of Economics at the University of Sydney.
Dr Hens research has also found the housing market in older and poorer neighbourhoods has improved over the last decade. “
But in older households, it’s a more conservative decision.”
Dr Hens research has also found the housing market in older and poorer neighbourhoods has improved over the last decade.
“If you look at the census data, there’s no correlation between the age of a property and its affordability, and we know that older houses tend to be more expensive, but it’s not as dramatic a difference,” Dr Kym Sowden, an associate professor in the School of Economics and Planning at Monash University, said.
She said older homeowners had a lower rate of foreclosures than younger homeowners, which could make it easier for younger buyers to buy properties.
Dr Hays said that a lack of interest in buying in younger neighbourhoods is a factor in the higher prices of older properties in older cities.
A higher rent for older homes in older markets, which are usually cheaper, has also made older properties more attractive to younger buyers.
Dr Sowen said that in a study she did on the subject, the median home price in older Sydney suburb Sydney Town and Country, which has a population of about 30,000, was $3.3 million.
In the study, the cheapest home was a three bedroom unit in the property for $2.2 million.
Dr Hern also said older buyers may be more comfortable renting in older locations, because they are more financially stable and have more income.
“[They] can afford it, they know where it is, they can take care of the property, they don’t have to move, and they have more options,” she said.
“I think younger buyers are very concerned about their finances, and are more willing to take on debt to get into an older property.”
The study was funded by the NSW Government.
The findings of the research are the first to examine the impact of rent affordability on older people.
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