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Greater Houston Real Estate Market Gets A “C-” For Home Affordability

The region is still a relative bargain for home buyers, barely. But some experts say that may not last much longer.



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The letter C

Houston came in ranked 12 out of the 25-largest U.S. metro areas in terms of home affordability, according to the latest annual report by personal finance website Median household income in the Houston area falls 1 percent short of the income required to purchase a median-priced home, a slight improvement from last year. managing editor Mike Sante describes Houston’s ranking as a “C-,” unchanged from 2013.

“Bottom line is: everybody in Houston should be pretty happy,” Sante said. “You still have what many cities would consider to be very affordable housing.”

The study indicates that, nationwide, home prices are rising faster than incomes, leaving households with less to spend after paying the rent or mortgage. The median home price for Greater Houston rose about 8 percent over the past year to $192,000. Median income for the region rose 2.5 percent over the same period to roughly $57,000.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew Schneider is the senior reporter for politics and government at Houston Public Media, NPR's affiliate station in Houston, Texas. In this capacity, he heads the station's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments...

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