It is no surprise that many people would like to live in Houston, Texas. Houston is the fourth-largest city and one of the most diverse in the United States. It appeals to people interested in space travel history, rodeo, and so much more.
Due to its booming job market, relatively low cost of living, and great weather all year, Houston, Texas, is a great place to live. It has the second-highest number of Fortune 500 headquarters and great aeronautics, healthcare, and manufacturing sectors. Aside from the robust industrial landscape, it bustles with a thriving arts and theatre scene. So, is it worth it to live in Houston?
- It has a population of 2.3 million, ranking it as the forty most populous city in the country.
- Houston is the 55th most expensive city in the US, which means its living cost is fairly high. However, it is affordable when compared to other big cities.
- In mid-2019, the average rent in Houston is $1,305 monthly. This places it as the 508th highest rent in the US.
Is Housing Affordable in Houston?
Generally, the cost of living in Houston is much lower than in other metropolitan areas like San Francisco and New York. If you add this to high salaries and absent state income tax, your money in the bank at the end of the month could be higher if you live in Houston.
The Houston Association of Realtors in May 2020 showed that the average home price for single families was $249,00. In February 2020, The Zebra released a study that named Houston as the city that gives the “most house per dollar. This does depend on the neighborhood because Houston is a large city with wide variations.
However, defining neighborhoods in a city as big as this is difficult. There is no uniform standard for categorizing areas in the city as neighborhoods but there are areas like planned communities and wards. These have allowed the city to be loosely drawn into 88 super neighborhoods.
Rent Prices in Houston by Neighborhood
Like with most cities, rent prices in Houston increase as you approach the centre. The best places to live in Houston are close to the City centre without being too expensive. Moderately priced rents are approximately $1,100 and $1,500. You can find such houses at East End, Uptown, Westchase, and Greater Heights.
Cheaper rent is between $750 to $1,000. The Far North, Southeast, and Pasadena have such rates. Moving up, the price scale is Montrose, Downtown, Midtown, and Rice. In these places, rents vary between $1,550 and $2,250.
Employment in Houston
Houston has a low unemployment rate when compared with other large cities. Los Angeles is at 5.1% and New York 4.5% while Houston is 3.9%. The energy sector in Houston is one of the city’s most prominent and provides employment opportunities for people moving there. Its manufacturing sector generates almost $100 billion constituting 18.3% of the region’s economy. Over 230,000 people work in this industry, putting the city at number one for manufacturing in the country. With all of these facts, now you can ask yourself the question “is it worth it to live in Houston?”