Houston real estate market overview
- Average Monthly Rent: $1,334
- Home Price/Value Percentage Change: 4.50%
- Median Home Value: $261,071
- Best Time To Sell a Home: December
- Affordability Index: Moderate
- Days To Sell a House: 59
- Job Market: Weak
- Public School Ranking: 27
Location and weather
The vibrant city of Houston is an inland port city of Harris County, in southeastern Texas. It is home to one of the busiest seaports in the US and considered a "Global City" due to its international connections. Houston is the largest city in Texas, the fourth most populous city in the United States, and home to the Medical Center, the largest medical center in the world. In terms of activity and entertainment, Houston boasts an exquisite food scene, an exciting nightlife scene, and a variety of cultural events.
The climate here is hot, humid and subtropical, with dry spells in the summer and short, airy winters in the 40s. There is consistent rainfall throughout the year, along with occasional severe weather that comes in from the Atlantic.
Population, job market and cost of living
Houston has a dense population of 2,366,119, with a growth rate of 0.87% annually.
The job market has decreased by -5.61% over the last year. In ten years, job growth is predicted to be 30.92%. Houston is the leading oil and petrochemical center. As of recent, the economy's job market has become more diverse, resulting in high-tech industries, trade, business and financial services to become prevalent in the employment sector.
Despite Houston's size, the cost of living here is lower than the US average. It is slightly more expensive than the average cost of living for Texas, but affordable housing contributes to this city's appeal for potential new residents.
Houston real estate market details
- West University
- Spring Branch
- The Heights
- Museum District
There has been a 4.5% increase in Houston's median home value over the last year. As of 2023, the median home value is $261,071.
Homeowners interested in earning the most profit for their home should sell in December. Homeowners looking for the fastest sale should sell in August.
The affordability index in Houston is 96. This number indicates moderate affordability in this city.
The top ranked public schools are Mandarin Immersion Magnet School, KIPP Unity Pri, Spring Branch Academic Institute, Project Chrysalis Middle, Harmony School of Discovery—Houston, North Houston Early College High School, and Alief Early College High School. This information is based on data regarding academic performance and equity.