HOUSTON, TX

HOUSTON HOUSING MARKET INFORMATION

With 2,312,717 people, 838,950 houses or apartments, and a median cost of homes 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. These Houston homes are the hangover affect of Hurricane Harvey.  Homes that are not habitable and are awaiting refurbishment.

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.