• The median price of a single-family home or condo in Houston appears affordable for someone earning nearly $80,000.
  • Three sectors contributed nearly 50,000 jobs to the market in the past year.
  • Multifamily supply is expected to outpace demand in the metro moving forward.

Recent wealth-rated data coupled with third-quarter home figures suggest Houston is one of the nation’s most affordable metros for single-family housing.

According to Bloomberg analysis of U.S. Bureau of Economics data, Houston is the ninth richest metro in the nation, with a gross metropolitan product (GMP) per capita of $70,097.


Helping drive Houston’s per capita GMP spanning the past 12 months have been the leisure/hospitality, education/health services and retail trade sectors. These three industries added a combined 47,600 during the period, according to recent data from Transwestern.

While overall payroll job growth is expected to be approximately 0.2 percent, or 5,000 jobs, for Houston in 2015, job growth is predicted to decline by 10,000 jobs in 2016.

As of the third quarter, the metro’s median home price was $215,000, to a report from the Texas Association of Realtors. Additionally, of the 23,109 homes that sold in Houston during the quarter more than 45 percent sold for less than $199,999.

When looking only at condos, the city of Houston’s median price of $108,900 represents the lowest condo price among the nation’s 18 largest markets. According to a report from Zillow, of the ten largest markets nationally Houston has the second lowest median price for condos.

A report from Trulia claims that buying a home in Houston makes more sense now then in September 2012. At that time it was 44 percent cheaper for a millennial to buy a home versus rent. The percentage now stands at 46 percent.

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
Network with CoStar, Redfin, Realogy, SERHANT., Divvy, and thousands more in-person at ICLV this October. Prices go up Sunday.Register Now×
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