smartasset: Houston rent less expensive these days

​​​​​HOUSTON – Renters do not need to earn as much money as in previous years to afford an apartment in Houston, according to anew SmartAsset report.

The report assessed the income needed to afford a two-bedroom apartment i​n 242 major cities across the U.S.

In Houston, renters should earn $46,629 per year to afford a two-bedroom apartment, which averages $1,088 per month in rent, according to SmartAsset.

In 2016, SmartAsset recom​mended that Houston renters earn $58,971 per year to afford a two-bedroom apartment, which averaged $1,376 per month.​

Apartment rents have fallen in Houston since late 2014, when oil prices began to drop.

Apartment operators are now offering between two and three months of rent concessions to boost occupancy rates amid slow job growth and competition from new construction.​​