Quick facts: Houston, TX

Quick Facts

105.3
Cost of Living
above US average
2,302,878
Population
56.58
Crime Rate per 1000
above US average
$60,440
Median Income
below US average
$310,000
Median House Price
above US average
$1993.66
Average Rent
above US average
15%
Poverty Rate
above US average
4.8%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,440.

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Income Needed to Buy

βœ— Stretch
$97k/year
Based on $310,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $97k vs median $60,440
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Income Needed to Rent

⚠ Stretch
$85k/year
Based on $1993.66/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $85k vs median $60,440
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Houston, TX

Houston, Texas, is the largest city in the state and the fourth most populous city in the United States, known for its rich cultural diversity, thriving economy, and vibrant arts scene. With a population of over 2.3 million residents, Houston is a melting pot of cultures, which is reflected in its varied culinary offerings and numerous cultural festivals. The city is a major player in the energy sector, particularly oil and natural gas, but it also has a burgeoning tech and healthcare industry, with the Texas Medical Center being one of the largest medical complexes in the world. Houston's attractions include the Space Center Houston, the Houston Museum District, which hosts institutions like the Museum of Fine Arts and the Houston Natural Science Museum, and the sprawling Hermann Park. Sports enthusiasts can enjoy professional teams such as the Houston Rockets (NBA), Houston Texans (NFL), and Houston Astros (MLB). The city has a warm, humid subtropical climate, with hot summers and mild winters, making it an appealing destination year-round. Overall, Houston is a dynamic city that combines Southern hospitality with a cosmopolitan atmosphere.

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