Redfin recently released a report on the economic diversity of the nation’s major cities using 2014 city-specific median family income data from the American Community Survey. Houston was ranked as the no. 11 best city for a balanced mix, with 12 percent of its neighborhoods with balanced economic diversity.
The report determined purchasing power as a 20 percent down payment on a 30-year fixed-rate mortgage at 4 percent. Monthly family income going toward a mortgage was measured at 28 percent.
Redfin measured home price mix by summarizing a 500-meter grid, which were then classified as one of three categories: mix of affordable and high-end homes, high-end homes and affordable homes.
What’s the economic breakdown of Houston neighborhoods?
|Westmoreland / Montrose||82%||Camp Logan||96%||Sagemont||100%|
|Moonshine Hill||81%||Gaywood||92%||Lindale Park||100%|
|Sunset Terrace (West University)||75%||Southampton||89%||Near Northside||93%|
|Fourth Ward||71%||Richmond Plaza/Bellaire||86%||Andover||83%|
Houston has a reported 16 percent of high-end areas and a whopping 72 percent of them are considered affordable.