An economic powerhouse with unbeatable real estate opportunities
Discover Houston's Real Estate
Everything is bigger in Texas, and Houston—and its real estate investment possibilities—is no exception. Home to one of the world’s busiest ports, a global center for the energy, aerospace and healthcare sectors, and the largest city in the U.S. South, Houston is an economic hub. When it comes to real estate, Houston enjoys an attractive mix of affordable prices with high demand.
Culture, History, and Business
Houston is a relatively young city. Founded in 1836, it briefly served as the capital of the independent Republic of Texas, before the capital moved to Austin in 1839. Over the 19th century it grew to become a major transportation and commercial hub. However, it wasn’t until 1914 when the Port of Houston opened that the city’s economic fortunes soared. Less than two decades later, Houston became the largest city in Texas, a status it has held ever since.
Houston’s reputation as a business-friendly city has persisted. The Port of Houston is the busiest port in the U.S. in terms of foreign tonnage and Houston is home to 23 companies on the Fortune 500 list. While the energy sector has long dominated the economy, aerospace, biomedical research and healthcare are also extremely strong. Houston is also one of the most diverse cities in the U.S. and home to many cultural institutions, many of them concentrated around the Museum District and Theater District.
Real Estate Appeal
Houston’s economic strength has made it a real estate market with great long-term profitability for real estate investors. Unlike coastal cities like New York, Los Angeles and San Francisco, real estate is still relatively affordable here. Wages and employment are also high, which has helped draw new residents from across the country and the world, and the result is that the population has grown a staggering 17.1% between 2010 and 2018. The median household income, meanwhile, is a very healthy $62,922, higher than most other cities of similar size.
That confluence of factors makes Houston an especially attractive real estate investment opportunity. The median home price is just $178,000, less than half what you would pay in many coastal cities like Los Angeles and New York City. At the same time, prices are rising rapidly and have gone up by more than 77% since 2012. For investors looking for a market where real estate is affordable and returns are likely to be significant, it’s hard to beat Houston.
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