LIVING IN HOUSTON
Houston is an enormous city located in the state of Texas. With a population of 2,312,717 people and 605 constituent neighborhoods, Houston is the largest community in Texas.
Houston is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Houston is a city of sales and office workers, professionals, and service providers. There are especially a lot of people living in Houston who work in office and administrative support (11.14%), sales jobs (10.34%), and management occupations (8.75%).
Also of interest is that Houston has more people living here who work in computers and math than 95% of the places in the US.
Houston is one of the most attractive larger cities for people who are young, single, educated, and upwardly-mobile career starters. This makes it a good place to live for young singles in their 20s and 30s and who have undergraduate or graduate degrees and are starting their professional careers. Although Houston is a large city, this demographic is significant enough that young professionals will find many others like themselves here, with really good opportunities for friendships, recreation, romance, and more.
One of the benefits of being a big city like Houston is having a public transportation system, but in Houston the transit system is the mode of choice for lots of people getting to and from work every day. You will find many people using the bus for their daily commute, even though other transportation options exist. If you ask these commuters, many will tell you that not having to drive in the snarl of big city traffic is one of main reasons for leaving the car at home, or even not owning a car at all. With so many people taking the bus Houston benefits from a reduction in air pollution and traffic.
The overall education level of Houston citizens is substantially higher than the typical US community, as 31.73% of adults in Houston have at least a bachelor’s degree, and the average American community has 21.84%.
The per capita income in Houston in 2010 was $30,547, which is upper middle income relative to Texas and the nation. This equates to an annual income of $122,188 for a family of four. However, Houston contains both very wealthy and poor people as well.
Houston is an extremely ethnically-diverse city. The people who call Houston home describe themselves as belonging to a variety of racial and ethnic groups. People of Hispanic or Latino origin are the most prevalent group in Houston, accounting for 44.47% of the city’s residents (people of Hispanic or Latino origin can be of any race). The greatest number of Houston residents report their race to be White, followed by Black or African-American. Important ancestries of people in Houston include German, English, Irish, French, and Italian.
Foreign born people are also an important part of Houston’s cultural character, accounting for 29.21% of the city’s population.
The most common language spoken in Houston is English. Other important languages spoken here include Spanish and Vietnamese.
HOUSTON, TX REAL ESTATE DATA
HOUSTON HOUSING MARKET INFORMATION
With a population of 2,312,717, 838,950 total housing units (homes and apartments), and a median house value of $154,934, house prices in Houston are solidly below the national average.
Single-family detached homes are the single most common housing type in Houston, accounting for 44.85% of the city’s housing units. Other types of housing that are prevalent in Houston include large apartment complexes or high rise apartments ( 43.55%), duplexes, homes converted to apartments or other small apartment buildings ( 5.36%), and a few row houses and other attached homes ( 5.27%).
People in Houston primarily live in small (one, two or no bedroom) single-family detached homes. Houston has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Houston built from 1970 to 1999 so parts of town may have that “Brady Bunch” look of homes popular in the ’70s and early ’80s, although some of these houses were built up through the early ’90s as well. There is also a lot of housing in Houston built between 1940-1969 ( 29.62%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.28%). There’s also some housing in Houston built before 1939 ( 4.40%).
Vacant housing appears to be an issue in Houston. Fully 11.05% of the housing stock is classified as vacant. Left unchecked, vacant Houston homes and apartments can be a drag on the real estate market, holding Houston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
HOUSTON HOME APPRECIATION RATES
In the last 10 years, Houston has experienced some of the highest home appreciation rates of any community in the nation. Houston real estate appreciated 51.71% over the last ten years, which is an average annual home appreciation rate of 4.26%, putting Houston in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Houston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Houston appreciation rates have trailed the rest of the nation. In the last twelve months, Houston’s appreciation rate has been 1.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout’s data show that house appreciation rates in Houston were at 2.35%, which equates to an annual appreciation rate of 9.72%.
Importantly, this makes Houston one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength.
Relative to Texas, our data show that Houston’s latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Houston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Houston – or in any city or town – that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Houston real estate investment or home purchase decisions.
AVERAGE HOME VALUES
MEDIAN HOME VALUE:
HOUSTON, TX HOME PRICES
Less than $1,190,000
Less than $1,190,000
Less than $1,190,000