Incorporated in 1945, the city of Katy lies roughly 30 miles from downtown Houston and is located near the western edge of greater Katy – a region of Houston that continues to grow via new multifamily developments, master-planned communities and retail centers.
A number of Katy and greater Katy residents work in the oil and energy sectors and commute an average of 27 minutes to work.
The region is known statewide for the quality of its schools, as Niche recently ranked the Katy Independent School District as the top district in the Houston metro and the 13th best in Texas.
School quality is the primary driver of housing prices in this Houston suburb.
Residential real estate in Katy
According to Trulia, the average list price of an existing single-family home in greater Katy during late March was $388,000. The median size of the homes listed was 3,327 square feet.
Of Houston’s outer submarkets, greater Katy accounts for the highest volume of home sales, with the southwest region being home to the most activity. Spanning a recent 12-month period, 2,527 homes sold in the region, according to the Houston Association of Realtors.
Median rent in greater Katy sits around $1,700. Those looking to rent a single-family home will pay an average of $1,814 monthly.
Homebuilders remain active in the area with a focus on the north region. Cane Island represents one ongoing, significant development. It’s been said that builders are running out of space in Katy’s southwest region.
Within the Katy/Cinco Ranch/Waterside market there are currently 10 proposed multifamily developments. This year a combined 16 multifamily projects will be delivered in the Katy and Energy Corridor markets.