Real Estate Solutions of Texas | Perspective: The Woodlands Rental Market

Below is a basic analysis of the Market Rents and DOM for The Woodlands. This is broken down by zip code, #brs and square foot ranges. A little about how the Woodlands was built will help you understand these numbers better:

The Woodlands started in Zip code 77380, the first Village was Grogan’s Mill. Panther Creek was the next village. It lies in zip code 77381. Cochrans Crossing and Indian Springs are also in 77381. Indian Springs is almost as old as Panther Creek. Cochrans Crossing has newer homes (from late 80’s to early 2000). 77382 contains the Villages of Alden Bridge and Sterling Ridge. Alden Bridge homes date from mid 1990s to 2000’s. Sterling Ridge is the newest Village and is still being built out. As The Woodlands was built, the area expanded to the West of 45. The newer villages are further away from the freeway and Town Center.

I analyzed the leased homes in each zip code. The data is from 6/1/2006 to current. This should provide you with a good idea of what the rents are and the Days on Market by area.

Here are the results:

77382, 2 or 3 BR, < 1800 sf

S - 19 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1419	2	2	0	0.611	995	0.611	995	100 %	4
Avg	1594.632	2.895	2	0.053	0.853	1360	0.848	1352.105	99.4 %	43.58
Max	1750	3	2	1	1.057	1650	1.057	1550	93.9 %	110
Median	1626	3	2	0	0.867	1350	0.849	1380	102.2 %	36

77382 , 2 or 3 br, 1800 to 2300 sf

S - 52 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1809	3	2	0	0.635	1200	0.616	1200	100 %	1
Avg	2034.692	3	2	0.269	0.83	1688	0.829	1687.019	99.9 %	52.69
Max	2298	3	2	1	1.59	2900	1.535	2800	96.6 %	193
Median	2031	3	2	0	0.81	1650	0.809	1650	100 %	37

77382, 4+ br, 1800 to 2300 sf

S - 23 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1841	4	1	0	0.628	1395	0.628	1400	100.4 %	0
Avg	2126.826	4.043	1.957	0.435	0.781	1662	0.772	1641.478	98.8 %	46.48
Max	2299	5	2	1	1.046	2400	0.959	2200	91.7 %	193
Median	2147	4	2	0	0.769	1550	0.769	1550	100 %	33

77381, 2 or 3 br, up to 1500 sf

S - 50 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1028	2	1	0	0.629	850	0.629	850	100 %	0
Avg	1311.74	2.94	1.92	0.22	0.783	1027	0.787	1032	100.5 %	41.28
Max	1500	3	2	2	1.063	1250	1.063	1350	108 %	192
Median	1330	3	2	0	0.775	1000	0.775	1000	100 %	28.5

77381, 2 or 3 br, 1501 to 2200 sf

S - 55 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1510	3	2	0	0.552	1000	0.552	1000	100 %	4
Avg	1793.327	3	2	0.418	0.715	1283	0.706	1266.636	98.7 %	42.6
Max	2130	3	2	1	1.071	1950	1.099	2000	102.6 %	134
Median	1764	3	2	0	0.713	1250	0.689	1250	100 %	35

77381, 4+ br, up to 2200 sf

S - 34 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1397	4	2	0	0.566	975	0.566	975	100 %	0
Avg	1853.824	4	2.088	0.412	0.685	1269	0.684	1267.206	99.9 %	48.09
Max	2157	4	4	1	0.881	1800	1.015	2100	116.7 %	143
Median	1884.5	4	2	0	0.674	1250	0.671	1200	96 %	42.5

77380, 2 or 3 br, up to 1500 sf

S - 37 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1102	2	1	0	0.623	800	0.623	800	100 %	1
Avg	1315.514	2.919	1.811	0.216	0.754	992	0.751	988.108	99.6 %	37.49
Max	1500	3	2	1	0.938	1250	0.938	1250	100 %	100
Median	1330	3	2	0	0.761	950	0.755	950	100 %	26

77380, 2 or 3 br, 1501 to 2200 sf

S - 36 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1501	3	2	0	0.494	835	0.494	835	100 %	0
Avg	1774.194	3	2	0.472	0.674	1196	0.672	1191.556	99.6 %	54.14
Max	2160	3	2	2	0.997	1850	0.898	1666	90.1 %	220
Median	1728.5	3	2	0	0.665	1225	0.66	1200	98 %	47

77380, 4+ br, to 2200 sf

S - 21 Properties Found
	SqFt	Beds	FB	HB	LP/SqFt	List Price	LseP/SqFt	Lease Price	SP/LP %	DOM
Min	1526	4	2	0	0.583	995	0.583	995	100 %	0
Avg	1885.429	4	2.048	0.619	0.696	1313	0.686	1294.286	98.6 %	38.14
Max	2180	4	3	1	0.867	1600	0.899	1600	100 %	118
Median	1974	4	2	1	0.691	1325	0.691	1300	98.1 %	32

I will follow this up with another email that contains sales prices for homes using the same criteria. That should give you a good idea of what you can expect for cash flows in The Woodlands.

Thanks.