HOUSTON—More households are making the shift from owning to renting, according to recent research from CBRE.

Led by markets in southern and western states, net absorption grew by an annual rate of 276,200 units, or 1.9 percent, on a year-over-year basis, with Houston and Dallas leading the pack. Other contributors to the growth include New York, Los Angeles, Austin, Atlanta, Washington, D.C., Seattle, Denver, Orlando, Raleigh, Tampa and Boston. Together, the cities accounted for more than half of the period's total net absorption.

“Houston's strong job growth continues to push our rental market forward,” said Ryan Epstein, executive vice president at CBRE.” While we have absorbed the units that are being delivered, we are still seeing record rent growth, yet Houston's average rent is still affordable compared to other markets around the country.”