• Only two markets nationally experienced larger year-over-year condo appreciation.
  • The median condo or single-family home is affordable in Houston compared to other cities.
  • Of the 35 most populous cities, Houston ranked third in terms of condo appreciation.

Condo values outpaced single-family home prices in Houston by nearly 5 percent during the third quarter.

According to a report from Zillow, the median price of a condo rose by 13.6 percent year-over-year during the quarter. In comparison, the median price of a single-family home appreciated by 9 percent during the same period.

Of the 35 most populous cities, only Dallas-Fort Worth (20.1 percent) and Denver (19.7 percent) experienced larger year-over-year rises in condo values.

Houston’s condo market remains an affordable one despite the nearly 14 percent rise in values. The city’s median price of $108,900 represents the lowest condo price among the nation’s 18 largest markets. When expanded to include the 35 largest markets Houston has the sixth lowest condo price.

“Condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle,” said Svenja Gudell, Zillow’s chief economist, also noting the additional costs, like homeowner association fees that come along with condo ownership.

Houston’s single-family market also remains affordable with a median home price of $170,000. Of the 10 largest markets nationally this ranks as the second lowest median price behind Atlanta ($166,000).

The trend of condos appreciating faster than single-family homes is occurring throughout the nation, according to Zillow. During the third quarter, the overall median price of a condo rose by 5.1 percent year-over-year in comparison to 3.7 percent in the single-family sector.

Email Erik Pisor.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription