AgentMarkets & Economy

Houston no longer among nation’s top-growing metros

Reports that suggest Houston is a top growing metro eye older data
  • Forbes left Houston off its top 20 fastest growing cities in 2016.
  • Single-family housing construction in Houston will lead the trail but trail previous year's activity.
  • According to Zillow, it is cheaper overall to own a home in Houston than it is to rent.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Recent data and reports from the Texas Office of the State Demographer and the U.S. Census Bureau pointed to the Greater Houston metro as being the top area nationally for population gain and the top in Texas for domestic migration, but things have changed since the data used for the report was taken. Focusing on the periods of July 2014 to July 2015 and 2009 to 2013, the report has been challenged by more up-to-date resident and job growth predictions, which indicate that population expansion is slowing in what was once considered the nation's fastest growing metro. Forbes recently left Houston off its list of 20 fastest growing markets for 2016; one factor likely to slow population expansion is job growth. Houston is expected to add only 22,000 this year, according to the Greater Houston Partnership. Population fluctuation effects housing  Spanning July 2014 to July 2015, the Houston metro added roughly 159,000 people -- the largest gain of any metro in the nation, a...