In a newly released report from the Houston Association of Realtors, data collected shows that homebuyers in Houston need 26.9% more income than they did a year ago to afford a median-priced house. The current median-priced home in Houston is $330,800.
The HAR data shows that only 47% of households make enough money to afford a single-family home. That’s down almost 10% from the same time in 2021 report also looks at housing numbers based on counties.
Income to afford housing
Fort Bend Houston
As far as affordable housing in Montgomery County, Willis is the most affordable. In Brazoria County, Angleton tops the list. You can get the most for your money in La Marque if you’re buying in Galveston County.
Jennifer Wauhob is the chair of the Houston Association of Realtors. She said to not let the numbers stop you from house hunting.
“I think it’s good to keep in mind that we have a lot of inventory that is below that price now not as much as we’ve had in the past but if you’re not one of the 47% who your annual income can help you afford that median home price it doesn’t mean you can’t afford a home here in Houston,” she said.
The data shows that Aldine is the most affordable area to buy a home right now. To see the whole report from HAR, click here.
The median price of a home has increased by almost $80,000 since the pandemic started.