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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Houston, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Houston, TX Housing Market Trends

With 2,302,878 people, 897,510 houses or apartments, and a median cost of homes of $282,864, Houston real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Houston, accounting for 44.21% of the city's housing units. Other types of housing that are prevalent in Houston include single-family detached homes ( 43.47%), duplexes, homes converted to apartments or other small apartment buildings ( 6.51%), and a few row houses and other attached homes ( 4.80%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Houston primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Houston has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Houston built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Houston built between 2000 and later ( 26.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.16%). There's also some housing in Houston built before 1939 ( 4.17%).

Vacant housing appears to be an issue in Houston. Fully 10.82% of the housing stock is classified as vacant. Left unchecked, vacant Houston homes and apartments can be a drag on the real estate market, holding Houston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Houston Home Appreciation Rates

Real estate appreciation rates in Houston's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.42% during the period.

Over the last year, Houston appreciation rates have trailed the rest of the nation. In the last twelve months, Houston's appreciation rate has been 5.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Houston were at 1.69%, which equates to an annual appreciation rate of 6.92%.

Relative to Texas, our data show that Houston's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Houston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Houston - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Houston real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$282,864

Houston, TX Home Prices
> $1,294,000
$971,001 - $1,294,000
$647,001 - $971,000
$518,001 - $647,000
$388,001 - $518,000
$259,001 - $388,000
$129,001 - $259,000
$65,001 - $129,000
$0 - $65,000
3.9%
3.9%
3.5%
3.5%
7.7%
7.7%
7.0%
7.0%
11.1%
11.1%
20.9%
20.9%
30.5%
30.5%
11.2%
11.2%
4.2%
4.2%
0% 100.0%
% of Homes
High

for Texas

Average

for nation

Number of Homes And Apartments:

897,510

Houston Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,627 / per month

Homeownership Rate

Owners
Renters
41.3%
41.3%
58.7%
58.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.8%
10.8%
89.2%
89.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
26.5%
26.5%
43.2%
43.2%
26.2%
26.2%
4.2%
4.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
43.5%
43.5%
4.8%
4.8%
6.5%
6.5%
44.2%
44.2%
1.0%
1.0%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.8%
4.8%
24.7%
24.7%
28.4%
28.4%
29.0%
29.0%
11.1%
11.1%
2.1%
2.1%
0% 100.0%
% of Homes