- Houston is considered a top market for lawyers, wealth and millenials.
- SpareFoot utilized dated median home price info when determining Houston's ranking.
- Metro is home to a group of law firms that employ a sizable volume of people.
Home prices, higher than average salaries and job availability make Houston the second best market nationally for lawyers.
According to a ranking from SpareFoot, the average annual salary for a lawyer in Houston is $90,000. This salary as a percentage of Houston’s median home price is 63.7 percent. And based on the amount of school debt that typically burdens a lawyer, the availability of industry jobs and the cost of living in the area, Houston outranks big cities like Boston, Chicago, Los Angeles and San Francisco.
SpareFoot used a median home price of $141,300. According to the Houston Association of Realtors, the median price of a Houston home reached $200,000 in November, which would mean the average lawyer’s salary as a percentage of median home value is 45 percent.
[graphiq id=”9v35ED1WZhP” title=”Lawyers: Cost-of-Living Adjusted Salaries by State” width=”600″ height=”549″ url=”https://w.graphiq.com/w/9v35ED1WZhP” link=”http://career-profiles.careertrends.com/l/308/Lawyers” link_text=”Lawyers: Cost-of-Living Adjusted Salaries by State | CareerTrends”]
The metro’s largest law firms include Vinson & Elkins, Norton Rose Fulbright and Andrews Kurth. Each of these firms employs more than 225 people locally.
Besides being a top market for lawyers, Houston is also a leading metro for wealth and millennials.
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. Realtor.com points to the market as the eighth top location for millennial buyers in 2016.